Lekoil Ltd (LEK)
Lekoil is an African focused oil and gas exploration and production company which currently holds interests offshore Nigeria and offshore 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.
The Company recently entered into a farm out agreement with Afren PLC to acquire an overall 30 per cent economic interest, including a 17.14 per cent participating interest, in OPL310, an offshore Nigerian asset located in the Dahomey-Benin Basin. OPL310 represents an early stage asset with significant potential and strong partners. The initial exploration well, Ogo-1, was spudded on 23 April 2013. In addition, Lekoil is the operator of two Namibian offshore exploration blocks (Blocks 2514 A & B) located in the prospective Luderitz Basin.
At a glance
- Africa focused exploration and production company
- Management and board with strong technical and financial experience and relationships on continent
- Lekoil Nigeria recently entered into a farm out agreement with Afren PLC to acquire an overall 30 per cent economic interest, including a 17.14 per cent participating interest, in OPL310, an offshore Nigerian asset located in the Dahomey-Benin Basin
On-going corporate activity
- Participated in Shell and Conoco Nigeria divestment processes and reviewed opportunities through the continent
- Majority owner of Blocks 2514A&B in Namibia
- Lekoil Cayman has been 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.
- Joint bid for Shell Nigeria's OML 30 (Shell Divestment Asset) with Afren and Dragon Oil.
- Joint bid for OML 40 (Shell Divestment Asset) with local partner and PE firms.
- Joint bid for ConocoPhillips Nigerian Divestment Asset with Strategic Partner.
Intertrust Corporate Services (Cayman) Limited
|Ticker Symobol||LEK (LSE:LEK)|
|Country of Incorporation||Cayman Islands|
|Sector||Oil & Gas Producers|
Financial & Nominated Adviser
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|Solicitors (Nigeria)||Banwo & Ighodalo|
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