Saturday June 6, 2020

San Leon has its eye on cheap Nigerian oil

Flush with cash from loan repayments, Oisin Fanning’s energy company now has about $78 million to spend on buying cut-priced crude

Ian Guider

Markets Editor

@ianguider
12th April, 2020
Oisin Fanning CEO & Mutiu Summon of San Leon Energy

Irish energy company San Leon is eyeing further oil assets in Nigeria as it added a further $40 million to its war chest last week.

Oisin Fanning, San Leon’s chief executive, said the company now has about $78 million in cash which it is considering deploying to take advantage of the low price of oil. Fanning said the slump in the price of crude oil has left some companies distressed and seeking either investment or to...

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