San Leon takes a €15.5m hit after Providence fails to secure Apec loan

San Leon takes a €15.5m hit after Providence fails to secure Apec loan
Providence boss Tony O’Reilly jr

San Leon revealed last week that it has taken a further impair charge against its interest in Providence’s Barryroe oil field to the tune of almost $18 million

The failure by Providence Resources to secure a €9 million loan has hit another Irish company as Oisín Fanning’s San Leon Energy was forced to take a more-than-€15 million hit to its exposure to it.

San Leon revealed last week that it has taken a further impair charge against its interest in Providence’s Barryroe oil field to the tune of almost $18 million (€15.5 million), bringing its overall impairment to almost $33 million.

San Leon is...

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