DJ San Leon Energy Raises GBP170M to Fund OML 18 Nigeria Stake Purchase Friday, August 26, 2016 07:05:00 AM (GMT) By Alex MacDonald LONDON--Oil and gas explorer San Leon Energy PLC (SLE.LN) said Friday it has raised 170.3 million pounds ($221.4 million) through a share issue to purchase a 9.72% indirect stake in the Nigerian OML 18 oil and gas asset and for general corporate purposes. The U.K.-listed firm said trading in its shares has resumed following completion of the issue of 378 million shares at 45 pence each. The price represents a 54.5% premium to the last traded price of 29.125 pence on Jan. 21, the day before its shares were suspended. OML 18 produced about 50,000 barrels of oil a day and 50 million standard cubic feet of gas a day in June. It has proven and probable reserves of 576 million barrels of oil and 4.2 trillion cubic feet of gas. The company also said Mutiu Sunmonu, a former managing director of Royal Dutch Shell PLC (RDSB.LN) and country chairman for Shell's operations in Nigeria, has been appointed non-executive chairman. Meanwhile the current executive chairman Oisin Fanning will assume CEO responsibilities in order to focus on the day to day running of the enlarged company. -Write to Alex MacDonald at alex.macdonald@wsj.com (END) Dow Jones Newswires 08-26-16 0305ET Copyright (c) 2016 Dow Jones & Company, Inc.