Receipt of conditional offer for the Company and Annual Report update

30 June 2017

San Leon announces that it received yesterday a conditional offer to purchase all the entire issued and to-be-issued shares in the Company. The offeror is China Great United Petroleum (Holding) Limited (“China Great United”), which has stated that it is in the process of retaining GMP Securities as its financial advisor for the proposed transaction. China Great United signed a non-disclosure agreement on 16 May 2017 in order to discuss the Company’s assets.

China Great United has proposed an indicative purchase price of approximately 67-76 pence per share. It states that the offer is conditional on it completing final due diligence to its satisfaction, and it expects to be in a position to make a formal offer within 45 days.

This announcement does not constitute an announcement of a firm intention to make an offer under Rule 2.5 of the Takeover Rules.

There can be no certainty that an offer will be made or as to the terms on which any offer might be made.

A further announcement will be made, as appropriate, in due course.

Publication of annual accounts
The Company is required to publish its annual accounts for the year ended 31 December 2016 ("Accounts") within 6 months of the year end under rule 19 of the AIM Rules for Companies. In the event that the Company cannot publish its Accounts within that timeframe, then the Company’s ordinary shares would be temporarily suspended from trading on AIM with immediate effect. The Company, together with its auditors, is working towards finalising its Accounts before the deadline albeit there is a risk that the ordinary shares may be temporarily suspended from trading at 7.30 am on 03 July 2017, pending such publication.

Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

Directors’ Responsibility Statement
The Directors of San Leon accept responsibility for the information contained in this announcement. To the best of their knowledge and belief (having taken all reasonable care to ensure such is the case), the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information.


San Leon Energy plc
Oisin Fanning, Chief Executive
+ 353 1291 6292

Whitman Howard Limited (Financial adviser to the Company)
Nick Lovering
Francis North
+44 20 7659 1234

SP Angel Corporate Finance LLP (Nominated adviser to the Company)
Richard Morrison
Ewan Leggat
Soltan Tagiev
+44 20 3470 0470

Brandon Hill Capital Limited (Joint broker to the Company)
Oliver Stansfield
Jonathan Evans
+44 203 463 5000

Vigo Communications (Financial Public Relations)
Chris McMahon
Alexandra Roper
+44 207 830 9700

Plunkett Public Relations
Sharon Plunkett
+353 1 280 7873


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