Nigeria: Lekoil placing raises $100m
Issue 265
- 08 Nov 2013
| 1 minute read
AIM-listed Lekoil has raised $100m through a placing of 113.28m new shares at 55p/share. The proceeds will be used to fund the company’s share of drilling and testing of the Ogo-1 well and sidetrack, the development of the OML 113 licence, which contains the Aje field, and for general working capital purposes, including the repayment of a $15m loan from Afren. The placing was conducted by Mirabaud Securities. “Following its successful IPO on AIM in May this year raising $50m, Lekoil has now raised further funds of $20m in July and $100m primarily to finance its successful drilling on its OPL 310 licence,” said Field Fisher Waterhouse corporate finance partner Anthony Brockbank, who advised Mirabaud Securities.
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