San Leon Energy - Re: SLE Stream Log - In April 2016, production levels...

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Re: SLE Stream Log
15:46 08/11/2016
ChartTrader
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In April 2016, production levels at OML 18 were approximately twice that originally forecast when the hedge and RBL were put in place and as such it is expected that Eroton will meet the covenants and repayment profile of the RBL. At a meeting of the lenders of the RBL, it was agreed that 60 per cent. of available funds after payment of interest and repayments can, subject to certain conditions, be distributed as dividends to Eroton's shareholders. Such conditions are expected to be satisfied by the end of Q1 2017.

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