San Leon hunting distressed Nigeria assets

摘要

San Leon Energy is negotiating to take more assets in Nigeria. The UK company has around US $80m in the bank and is looking to use the cash to take advantage of distressed sellers hurt by the oil price fall. San Leon received another $40m from Midwestern last week as part repayment of the loan it gave the company to buy into OML 18. San Leon also has a 10.58% interest in the block which has 2P reserves of 575m bbl of oil and 3.2 Tcf of gas.