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San Leon Energy Confronts Legal Challenge
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San Leon Energy Confronts Legal Challenge

San Leon Energy (GB:SLE) has released an update.

San Leon Energy, an oil and gas company operating in Nigeria, is facing a winding up petition from Ocean Pearl Maritime SA over a disputed acquisition of an additional 13.5% stake in Energy Link Infrastructure (Malta) Limited for $12 million, which is part of a major series of investments by San Leon. The company is defending itself against what it considers an aggressive and vexatious legal move, asserting that share transfers cannot occur without the consent of GT Bank Nigeria due to existing security pledges. San Leon is urging for a constructive resolution with Ocean Pearl as it aims to become the majority shareholder in ELI, a move that would amount to a reverse takeover under AIM Rules.

For further insights into GB:SLE stock, check out TipRanks’ Stock Analysis page.

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