Lekoil: Fundraising

Issue 311 - 06 Nov 2015
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.

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