ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT
PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2
OF THE AIM RULES FOR COMPANIES ('AIM RULES')
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COMPANY NAME:
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San Leon Energy plc ('San Leon' or the 'Company')
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COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT,
COMPANY TRADING ADDRESS (INCLUDING POSTCODES)
:
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Registered office:
First Floor
Wilton Park House
Wilton Place
Dublin 2
Republic of Ireland

UK office:
San Leon Energy plc
84 Brook Street
London
W1K 5EH
United Kingdom
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COUNTRY OF INCORPORATION:
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Republic of Ireland
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COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION
REQUIRED BY AIM RULE 26:
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http://www.sanleonenergy.com/
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COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF
OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY,
DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION
IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER
UNDER RULE 14, THIS SHOULD BE STATED:
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San Leon Energy plc is a specialist oil and
gas company with assets in Poland, Ireland,
Morocco, Albania and Spain. The Company has
agreed to acquire an initial 9.72% indirect
economic interest (5.4% indirect net working
interest) in the world-class OML 18 oil and
gas block in the Southern Niger Delta. Following
the acquisition (deemed to be a Reverse Take-Over
under the AIM Rules for Companies), the Company's
main country of operation will be Nigeria.

OML 18 Background
OML 18 is located in the Southern Niger Delta
and comprises a mangrove swamp area, covering
1,035 km(2) (which is an area larger than the
country of Bahrain). It is considered a world-class
resource of oil, gas and condensate and is located
close to the Bonny Terminal operated by Shell
and near Port Harcourt. Oil was first discovered
on OML 18 in 1958 (on the Krakama Field) and
production first commenced in 1970. There are
nine discovered fields on OML 18, of which four
are still producing (including the Awoba field,
which straddles OML 18 and OML 24). To date,
an estimated 1,002 MMstb of oil (including Alakari
condensate) and 1,778 bcf of gas have been produced.
Existing, operational infrastructure within
OML 18 includes seven oil flow stations, three
associated gas gathering processing facilities
and one non-associated gas processing facility
and associated gathering facilities. Four fields
(being the Akaso, Alakiri, Awoba and Cawthorne
Channel fields) are currently in production.
Since Eroton, an independent energy company
based in Nigeria, became operator of OML 18,
gross oil production from OML 18 has increased
from approximately 10,000 bopd in March 2015
to 50,000 bopd in April 2016, as the initial
stages of a comprehensive well rehabilitation
programme were executed. Eroton has proposed
a significant oil and gas development drilling
programme that will involve capital expenditure
of over US$1.5 billion in the 2P case over the
next 5 years that is expected to see oil production
increase from approximately 50,000 bopd to 115,000
bopd (including production losses and downtime)
and sales gas from 50 MMscfpd to 485 MMscfpd
by 2020. Gross 2P oil reserves are 576 MMBs
(net 39 MMBs to San Leon Energy plc) and Gross
2P reserves of gas are 4,213 BCF (net 247 BCF
to San Leon Energy plc).
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DETAILS OF SECURITIES TO BE ADMITTED INCLUDING
ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES
(i.e. where known, number and type of shares,
nominal value and issue price to which it seeks
admission and the number and type to be held
as treasury shares):
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433,025,720 ordinary shares of EUR0.01 par value
('Ordinary Shares') (of which 61,809,052 Ordinary
Shares are already admitted to trading on AIM,
378,400,000 Ordinary Shares are issued at 45
pence per Ordinary Share pursuant to the Placing
to raise GBP170.3 million, and 2,816,668 Ordinary
Shares are issued to Mr. Oisin Fanning, in part
payment of his basic salary).

No restrictions as to transfer of the securities
No shares will be held as treasury shares on
Admission to AIM
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CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE)
AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:
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Capital to be raised on admission: Approx. GBP170.3m.
Anticipated market capitalisation: Approx. GBP199.4m
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PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS
AT ADMISSION:
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55.25%
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DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM
TO WHICH THE AIM COMPANY HAS APPLIED OR AGREED
TO HAVE ANY OF ITS SECURITIES (INCLUDING ITS
AIM SECURITIES) ADMITTED OR TRADED:
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San Leon maintains an ADR program which are
quoted on the OTC Pink market, under the symbol
SLGYY.
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FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED
DIRECTORS (underlining the first name by which
each is known or including any other name by
which each is known):
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Current Board:
Oisíe;n Fanning, Executive Chairman
James Matthew Dominic Paul Sullivan, Managing
Director
Raymond Albert King, Director and Company Secretary
Thomas Daniel Martin, Non-Executive Director

Proposed Board on Admission:
Oisíe;n Fanning, Chief Executive Officer
Mutiu Olaniyi Adio Sunmonu, Non-Executive Chairman
Raymond Albert King, Non-Executive Director
Joel David Price, Chief Operating Officer
Finian Alan Campbell, Commercial & Business
Development Director
Kristian Ewen Ainsworth, Finance Director
William Mark Phillips, Non-Executive Director
Nicholas Jones Butler, Non-Executive Director
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FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS
EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE
CAPITAL, BEFORE AND AFTER ADMISSION (underlining
the first name by which each is known or including
any other name by which each is known):
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Before Admission: % of total share
Shareholder capital
----------------------------- -----------------
Toscafund Asset Management
LLP 39.64%
----------------------------- -----------------
Optima Worldwide Group
Plc 10.29%
----------------------------- -----------------
The Capital Group Companies
Inc. 6.48%
----------------------------- -----------------
Quantum Partners LP 3.50%
----------------------------- -----------------

After Admission: % of total share
Shareholder capital
----------------------------- -----------------
Toscafund Asset Management
LLP 54.41%
----------------------------- -----------------
Amara Equity Invest
S.A. 8.97%
----------------------------- -----------------
Total Investment Solutions
S.A. 8.97%
----------------------------- -----------------
The Capital Group Companies
Inc. 8.46%
----------------------------- -----------------
Optima Worldwide Group
Plc 4.41%
----------------------------- -----------------
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NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE
WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:
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None
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(i) ANTICIPATED ACCOUNTING REFERENCE DATE
(ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION
IN THE ADMISSION DOCUMENT HAS BEEN PREPARED
(this may be represented by unaudited interim
financial information)
(iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST
THREE REPORTS PURSUANT TO AIM RULES 18 AND 19:
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(i) 31 December
(ii) 31 December 2015 (incorporated by reference)
(iii) unaudited interim results for 6 months
to 30 June 2016 by 30 September 2016;
audited results for the year to 31 December
2016 by 30 June 2017;
unaudited results for the six months to 30
June 2017 by 30 September 2017

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EXPECTED ADMISSION DATE:
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21 September 2016 (conditional on shareholder
approval of the transaction at an extraordinary
general meeting to be held on 20 September 2016).
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NAME AND ADDRESS OF NOMINATED ADVISER:
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SP Angel Corporate Finance LLP
Prince Frederick House,
35-39 Maddox Street
Mayfair
W1S 2PP
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NAME AND ADDRESS OF BROKER:
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SP Angel Corporate Finance LLP
Prince Frederick House,
35-39 Maddox Street
Mayfair
W1S 2PP

Brandon Hill Capital
1 Tudor Street
London
EC4Y QAH

Whitman Howard Limited
First Floor
Connaught House
Mount Street
London
W1K 3NB
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OTHER THAN IN THE CASE OF A QUOTED APPLICANT,
DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS)
THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM,
WITH A STATEMENT THAT THIS WILL CONTAIN FULL
DETAILS ABOUT THE APPLICANT AND THE ADMISSION
OF ITS SECURITIES:
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Copies of the admission document is available
on the Company's website http://www.sanleonenergy.com/.

The admission document contains full details
about the applicant and the admission of its
securities.
--------------------------------------------------------------------
DATE OF NOTIFICATION:
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01 September 2016
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NEW/ UPDATE:
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New
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San Leon Energy plc published this content on 01 September 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 27 September 2016 08:35:13 UTC.

Original documenthttp://www.sanleonenergy.com/investors/regulatory-news-service-(rns)/2016/september/1/-energy-plc.aspx

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