Lekoil Ltd (LEK)

 

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% economic interest in OPL 310.

Lekoil says it is working with the regulatory agencies to clarify and amend the conditions stated in the consent letter to be in line with Nigerian law and further announcements will be made as and when appropriate. Lekoil holds 90% of the economic interests in its subsidiary, Lekoil Nigeria Limited.