Processing of Payment for OPL 310 Ongoing

RNS Number : 4722H

Lekoil Limited

25 March 2020

 

25 March 2020

Lekoil Limited

("LEKOIL" or the "Company")

Processing of Payment for OPL 310 Ongoing

LEKOIL (AIM: LEK), the oil and gas exploration and production company with a focus on Nigeria and West Africa, announces today that the Company is in the process of making the agreed payment of US$2.0 million for OPL 310 in accordance with the agreement reached and announced by the Company on 21 January 2020.

The payment is to cover the portion of sunk costs and consent fees due on 20 March 2020, with an additional and final payment due in May 2020. The Company has given instructions for the payment to be made by its bank and will provide a further update when this process is completed.

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014.  Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

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

LEKOIL Limited Ore Bajomo, Investor Relations	[phone]
Strand Hanson Limited (Financial & Nominated Adviser) James Spinney / Ritchie Balmer / Georgia Langoulant	[phone]
Mirabaud Securities Limited (Joint Broker) Peter Krens / Edward Haig-Thomas	[phone] / [phone]
Numis Securities Limited (Joint Broker) John Prior / Emily Morris	[phone]
Instinctif (Financial PR) Mark Garraway / Dinara Shikhametova / Sarah Hourahane	[phone] [e-mail]

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014.  Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

 

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