- Oil and gas producer San Leon Energy said it would invest $15m in Energy Link Infrastructure, the owner of the Alternative Crude Oil Evacuation System project in Nigeria.

The project was being constructed to provide a dedicated oil export route from the OML 18 asset, comprising a new pipeline from OML 18 and a floating storage and offloading vessel.

The investment comprised a 10% equity interest in Energy Link Infrastructure together with a $15m shareholder loan at a coupon of 14% per annum over four years.

Funds would be provided in two tranches with the first $10m being made by San Leon this week.

The second tranche of $5m was expected to be made in the fourth quarter of 2020 following receipt from Midwestern Leon Petroleum of the next repayment of loan notes due at that time.

At 8:53am: [LON:SLE] San Leon Energy PLC share price was +0.75p at 23.35p

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