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San Leon Energy PLC appoints Julian Tedder as new CFO

“I am delighted to be joining San Leon at this exciting time in the company’s development,” Tedder said in a statement

San Leon Energy PLC (AIM:SLE, AQSE:SLE, OTC:SLGYF) has appointed Julian Tedder as its new chief financial officer and executive director with immediate effect.

“We are delighted to welcome Julian to the team at this time,” chief executive Oisin Fanning said in a statement.

“He brings a wealth of experience which will undoubtedly help us as we continue to deliver our strategy and grow the business. We look forward to working with him.”

Tedder added: “I am delighted to be joining San Leon at this exciting time in the company’s development. I very much look forward to working with the team and also progressing the transaction that we are currently undertaking.”

Tedder was previously a finance director at IGas Energy and Tullow Oil.

In a separate statement, San Leon noted a further extension to its waiver of payments for the loan to Midwestern Leon Petroleum Limited (MLPL).

It is intended that MLPL and its interests in the underlying economic interests in the OML 18 oil asset will be reorganised and restructured.

San Leon is presently owed some US$98mln which was due by the end of 2021 and outstanding payments due under that arrangement have effectively been suspended whilst a potential deal is progressed.

Presently, San Leon owns 40% of MLPL and if an envisaged deal is completed, it is anticipated that the company would take ownership of the other 60% – in effect it would give the company a larger economic interest in the underlying revenue-generating oil operation.

Read More: San Leon Energy PLC appoints Julian Tedder as new CFO

2021-12-01 04:22:00

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