San Leon Energy settles loan facility

San Leon Energy has settled a loan facility agreement with nominees of funds managed by Toscafund Asset Management in relation to a £11m convertible secured loan.

The settlement included the payment of all interest and fees, it said.

The company has also paid around €11.53m to Avobone and Avobone Poland, fully settling all amounts due to Avobone.

San Leon Energy said it is scheduled to receive around $19 million per quarter from Midwestern Leon Petroleum in respect to loan notes.