Operational Update

RNS Number : 3124F

Lekoil Limited

18 March 2022

 

18 March 2022

Lekoil Limited

("LEKOIL" or the "Company")

Operational Update

LEKOIL (AIM: LEK), the oil and gas exploration and production company with a focus on Nigeria and West Africa, is pleased to provide the following corporate and operational updates. 

Offer by Lekoil Nigeria Limited ("Lekoil Nigeria") to purchase ordinary shares in the Company (the "Offer")

The Company notes the announcement of Lekoil Nigeria that it has suspended the Offer.   The Company will update its shareholders when it has further information about this matter.

Operational Development for the month of February 2022 taken from information provided by Lekoil Nigeria

· Otakikpo:

o  Oil production in February 2022 of 4,544 bopd (gross)/1,817 bopd (net).

o  No update on work for drilling of two (2) additional production wells.

· OPL 310 (Ogo):

o  No material update.

· OPL 325:

o  No material update.

· OPL 276

o  No material update.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ('MAR'). Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.

For further information, please visit www.lekoilplc.com or contact:

SP Angel Corporate Finance LLP (Nominated Adviser and Joint Broker) Jeff Keating / Stuart Gledhill	[phone]
Tennyson Securities (Joint Broker) Peter Krens / Edward Haig-Thomas	[phone]
Camarco (Financial PR Advisor) Billy Clegg / Owen Roberts / Violet Wilson	[phone]

 

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