San Leon to hive off Irish assets for €2.2m

Dublin-headquartered oil and gas company, San Leon Energy has reached agreement to sell the bulk of its Irish assets to Ardilaun Energy — a vehicle controlled by exploration investor, John McKeon — for $3m (€2.2m).

The move will see San Leon, chaired by former Smart Telecom chief, Oisin Fanning with its shares listed on London’s AIM index, focus more sharply on its core foreign assets, particularly in Poland, Morocco and Turkey.

Earlier this week, the company announced an agreement to buy 75% of Turkish exploration firm, Alpay Enerji for $4m.