Lekoil: Fundraising


Issue 311 - 06 Nov 2015 | 1 minute read

Nigeria’s Lekoil has raised $46m with a placing of 125.2m shares at 24p/share. The proceeds will fund the acquisition of an indirect controlling stake in OPL 325, to the south of Lekoil’s OPL 310 in the Dahomey Basin. Chief executive Lekan Akinyanmi told the Africa Independents’ Forum in Cape Town that the Dahomey Basin was underexplored. The company also has the Otakikpo marginal field on OML 11, which delivered first oil on 5 September, and acreage in Namibia, where Lekoil is doing regional geological work.

Tagged with:

Pin Nigeria

Want to read more?

Subscribe to African Energy

View subscription options

This article is available to registered users

Login

Don't have an account?

Register for access to our free content

An account also allows you to view selected free articles, set up news alerts, search our African Energy Live Data power projects database and view project locations on our interactive map

Register