Nigerian bonanza prompts San Leon to return $10m to shareholders

30th September, 2018

Irish oil explorer San Leon Energy will have up to $50 million (€43 million) in cash by the end of the year and plans to return half of it to shareholders.

The company said it would begin a share buy-back starting in October with an initial $10 million being returned to shareholders.

San Leon chief executive Oisín Fanning told The Sunday Business Post the cash was flowing into the company via loan notes linked to its investment...

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