San Leon, the independent oil and gas production, development and exploration company focused on Nigeria, notes the announcement made yesterday by Decklar Resources in Canada.

San Leon has entered into a conditional subscription agreement with Decklar Petroleum, the local subsidiary of Decklar Resources, which entitles San Leon to purchase US$7,500,000 of 10% unsecured subordinated loan notes of Decklar Petroleum and 15% of the enlarged share capital of Decklar Petroleum. In addition, Decklar Petroleum and San Leon have entered into an option agreement which, at San Leon's sole discretion, entitles San Leon to purchase an additional US$7,500,000 of loan notes and further Decklar Petroleum shares representing an additional 15% of the enlarged share capital of Decklar Petroleum. 

See original Decklar news release here.

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