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Lekoil Ltd Ord USD0.00005 (DI) (LEK)

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26-Mar-2021 08:26 AM

Lekoil annual losses widen as falling oil prices bite

Oil and gas company Lekoil reported wider annual losses as revenue fell more than quarter, pressured by lower oil prices. For the full year ended 31 December 2020, comprehensive loss widened to US$16.2 million from US$12.0 million last year as revenue f
26-Aug-2020 07:54 AM

Lekoil swings to annual loss as higher costs, lower revenue weigh

Oil and gas producer Lekoil swung to a loss on higher costs and lower revenue. For the year to 31 December 2019, the company reported pre-tax losses of $4.9m, compared with a profit of $2.3m on-year as revenue fell to $42m from $48.7m. Annual production
17-May-2019 08:15 AM

Lekoil's Chief Financial Officer Lisa Mitchell set to step down

Lekoil said Chief Financial Officer Lisa Mitchell was set to resign after the release of the company's annual report. She will be replaced by Greg Eckersley, who was appointed interim CFO. Greg Eckersley, until recently the Global Head of Internal
14-May-2019 10:30 AM

Broker Forecast - Numis issues a broker note on Lekoil

Numis today reaffirms its buy investment rating on Lekoil (LON:LEK) and cut its price target to 22p (from 40p). Story provided by Broker Forecasts data provided by
24-Apr-2018 12:40 PM

Broker Forecast - Numis issues a broker note on Lekoil

Numis today initiates coverage of Lekoil (LON:LEK) with a buy investment rating and price target of 40p. Story provided by Broker Forecasts data provided by
04-Jan-2018 07:16 AM

Lekoil JV inks contract for Otakikpo

West Africa-focused Lekoil's joint venture with Green Energy International Limited has signed a contract with Sinopec Changjiang Engineering Services to acquire 197 sq km of 3D seismic data at the Otakikpo marginal field in OML 11, onshore and offsh
02-Oct-2017 09:15 AM

Lekoil appoints CFO

Lekoil has appointed Lisa Mitchell as chief financial officer with immediate effect. Her appointment follows the resignation of Bruce Burrows who has decided to pursue another opportunity to better fit family circumstances. The company said Burrows w
21-Jul-2017 02:27 PM

All resolutions passed at AGM of Lekoil

Lekoil has confirmed that all resolutions were passed by shareholders at today's Annual General Meeting. At 2:27pm: (LON:LEK) Lekoil share price was +0.13p at 17.75p Story provided by
28-Jun-2017 08:53 AM

Lekoil schedules AGM

Lekoil will hold its annual general meeting at its offices at Churchgate Tower 1, 9th Floor, PC 30, Churchgate Street, Victoria Island, Lagos, Nigeria, on 21 July at 11:00 a.m. local time. At 8:53am: (LON:LEK) Lekoil share price was +0.38p at 16.13p
21-Jun-2017 09:06 AM

Lekoil losses narrow

Lekoil's total comprehensive losses narrowed to $15.8m in the year ended 31 December - down from $18.7m last time. Cash balances at the year-end totalled $4.38m (2015: $26.02m) while loans and borrowings totalled $27.39m (2015: $8.25m(. No divid
09-Jun-2017 01:34 PM

LEKOIL receives ministerial consent for OPL310 farm-in

LEKOIL has confirmed that the Honourable Minister of Petroleum Resources of Nigeria has granted consent to complete the transfer of the original 17.14% participating interest that LEKOIL acquired in OPL 310 in February 2013 to Mayfair Assets and Trust, a
10-May-2017 08:11 AM

Lekoil reports first lifting from FSO Ailsa Craig

Lekoil has announced that the first crude cargo produced from the Otakikpo marginal field in OML 11 has been lifted from the FSO Ailsa Craig by Shell Western Supply and Trading, a subsidiary of Royal Dutch Shell. Lekoil said 120,000 barrels of gross pro
03-Apr-2017 09:51 AM

Lekoil inks MOU with General Electric for Ogo work

Lekoil has signed a memorandum of understanding with GE Oil & Gas, a subsidiary of General Electric Co, for the development of a work programme for the Ogo field in OPL310. Lekoil said it would leverage GE Oil & Gas's equipment and technical exper
31-Mar-2017 08:17 AM

Lekoil unit agrees advance payment facility with Shell

Lekoil's wholly-owned subsidiary Lekoil Oil and Gas Investments Ltd, has agreed a $15m advance payment facility with Shell Western Supply and Trading, part of Royal Dutch Shell. Lekoil said the facility had a maturity of three years and was repayabl
30-Mar-2017 09:56 AM

Lekoil offtake agreement with Shell

Lekoil has announced a commercial offtake agreement with Shell Western Supply and Trading Limited, a subsidiary of Royal Dutch Shell, in respect to the sales of its crude entitlement from the Otakikpo marginal field. Lekoil said pricing would be determ
20-Feb-2017 09:24 AM

Lekoil starts continuous production at Otakikpo

Lekoil has started continuous production at Otakikpo following completion and commissioning of the six kilometre offshore pipeline leading from the storage tanks to the tanker offloading manifold. Otakikpo is sited in a coastal swamp location in oil mini
23-Nov-2016 07:53 AM

Lekoil update on OPL 310 farm-in

Lekoil has noted an announcement made by its partner in OPL 310, Optimum Petroleum Development Ltd, regarding the receipt of ministerial consent by Mayfair Assets and Trust Limited, a wholly owned subsidiary of Lekoil Nigeria Limited, for its 17.14% econo
13-Apr-2016 08:00 AM

Lekoil confirms successful well tests at Otakikpo

Lekoil expects to start commercial production from the Otakikpo marginal field in Nigeria by the end of the second quarter. Lekoil said the Otakikpo-002 well flowed oil from two upper zones during two production tests concluded on 10 April. The C5 zone
01-Dec-2015 07:42 AM

Lekoil acquires Afren's interest in OPL 31

Lekoil has agreed to acquire Afren's entire 22.86% participating interest in OPL 310, which contains the Ogo discovery, for $13m in cash. Lekoil Nigeria Limited via its wholly owned subsidiary, Mayfair Assets and Trust Limited (Nigeria), holds a 17
28-Oct-2015 07:40 AM

Lekoil acquisition in Nigeria and placing

Lekoil has acquired an indirect controlling interest in OPL 325, (located to the south of OPL 310 in the Dahomey Basin) offshore Nigeria. Lekoil will pay US$16.08m initially, with other payments due at developmental milestones totalling US$24.12m. Leko
26-Jun-2015 01:50 PM

Lekoil resolutions passed at AGM

Lekoil has confirmed that all the resolutions proposed at the annual general meeting today were passed. At 1:50pm: (LON:LEK) Lekoil share price was +0.63p at 28.13p Story provided by
11-May-2015 07:41 AM

Lekoil losses narrow

Lekoil posts a loss of $11.0m for the year to the end of December - down from the $18.1m for 2013. The loss per share was $0.01 against $0.10 in 2013 but the retained loss of $18.8m was up from $16.98m in 2013. Net asset increased to $173.8m from $147.1
21-Jan-2015 08:42 AM

Lekoil resource to reserve conversion at Otakikpo

Lekoil has announced the completion of an addendum to the competent person's report on the Otakikpo marginal field by AGR TRACS International Ltd, the author of the original CPR in September. The addendum covers the recent progress on the project
16-Dec-2014 09:25 AM

Otakikpo ahead of schedule, says Lekoil

Lekoil is ahead of schedule to achieve its target of first production from the Otakikpo project offshore Nigeria. Lekoil, the technical and financial partner in the Otakikpo project, and its partner Green Energy, have secured approvals for the well re-
11-Dec-2014 09:22 AM

Lekoil board approves loan to CEO

Lekoil's independent board of director have approved the provision of a US$1.5m loan to chief executive Lekan Akinyanmi. The loan has a three year term and bears interest at a rate of 4%. Other than a bonus, from May 2013 until November 2014, Akin

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