San Leon said on Thursday it had signed a binding heads of agreement to sell its wholly-owned subsidiary Island Oil & Gas to Irish junior Ardilaun Energy.
Included in the sale is Island’s working interests in the Atlantic Margin, namely FEL 1/04 (North Porcupine), FEL 3/05 (Rockall), FEL 3/08 (South Porcupine), FEL 4/06 (Slyne) and licencing option 11/13 (Slyne Option).
The transaction also includes the Seven Heads gas field, SEL 4/05 (Old Head of Kinsale) and SEL 5/05 (Schull) in the Celtic Sea.
San
