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07.11.2017

Extension of Director’s Loan

LEKOIL (AIM: LEK), the oil and gas exploration and production company, with a focus on Nigeria and West Africa, announces that the Directors of the Company other than Lekan Akinyanmi (“Independent Directors”) have extended the unsecured loan from the Company to Lekan Akinyanmi, which was previously granted on 9 December 2014 (the “Loan”).


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06.11.2017

Sharing the WEALTH

Nigeria’s leading oil and gas producer focuses on commercial production at Otakikpo while developing Ogo oil discovery.


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Welcome to LEKOIL...

Lekoil is an Africa focused oil and gas exploration and production company with interests in Nigeria and Namibia. The Company was founded in 2010 by a group of leading professionals with extensive experience in the international upstream oil and gas industry as well as in global fund management and investment banking.

AT A GLANCE

Background

  • On 17 May 2013 Lekoil successfully listed on the AIM market of the London Stock Exchange with a US$50million fundraising.

  • Results of the significant discovery at the Ogo-1 well and subsequent sidetrack suggest potential net recoverable resources of 232 mmboe (P50) and 354 mmboe (P10) to Lekoil Nigeria with additional upside potential expected in the synrift play.

  • Post IPO, Lekoil announced further fundraisings with gross proceeds of approximately US$120 million to fund the drilling completion and testing of the Ogo-1 well and the Ogo-1 sidetrack.

  • A 3D seismic programme, designed by the partners in OPL 310 - Lekoil, Afren Plc and Optimum Petroleum Development Ltd – commenced on 20 March 2014 to cover the remaining 80% of the block.

  • Announced on 19 May 2014: the acquisition of a 40% interest in the Otakikpo Marginal Field, in OML 11 in Nigeria, adjacent to the shoreline, with estimated 2C resource estimates of 56.75mmbbls. 

  • Otakikpo Marginal Field scheduled to begin production in Q1 2016.

  • Announced on 27 October 2015: the acquisition of Interest in OPL 325, Offshore Nigeria.

  • Announced on 28 October 2015: the completion of US$46 million Placing.

  • Announced on 1 December 2015: the acquisition of Afren’s Interest in OPL 310,  consolidating Lekoil's Participating Interest to 40% pending Ministerial Consent.

  • Majority owner of Blocks 2514A&B in Namibia.