UK's San Leon Energy sees stock price jump 10% on news of Morocco oil shale accord

摘要

London-UK-listed upstream minnow San Leon Energy saw its share price rocket June 1 after it signed an agreement with Morocco's state-owned oil company ONHYM to explore the potential of "massive in-place" oil shale reserves in the Tarfaya license area. San Leon estimates reserves of "billions of barrels" of recoverable oil from the Tarfaya oil shale over the 6,000 sq km area. The company's shares rose by more than 30% after the announcement, before closing in London at GBP0.23/share, a rise of just under 10% on the day.