- LEKOIL Cayman was formed by professionals who have extensive experience in both global oil exploration and global financial markets.
- Our value proposition focuses on "local implementation facilitated by global resource access".
- Our experienced management team and board understand the operational, regulatory, environmental and security issues that drive successful operations in Africa.
- Board members managed portfolio of $15Bn+ equity investments in listed natural resource companies.
- Technical team has deep expertise in exploration, production and geophysics in Nigeria, Middle-East and Europe.
- At board and management level we have existing strong and long-developed relationships with Government, major International Oil Companies (IOC's), large independent Exploration & Production companies (E&P's) and global financial institutions.
- LEKOIL's African activities are centralised through a group holding company structure based in the Cayman Islands. We coordinate our African activities from Lagos, Nigeria.
- 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 around mid-year 2015.