Lekoil Limited Pays A license Extension Fee Of US$7.5 Million fFor OPL 310 block

  • October 31, 2019 09:54 AM GMT
  • Team Kalkine
  • Lekoil Limited (LEK), as mandated by the Federal Government of Nigeria and Ministry of Petroleum Resources has paid a license extension fee of US$7.5 million for OPL 310 block.
  • The company funded the payment of license extension fee from a mix of existing financial resources and debt facilities.
  • The company also paid in full the balance of outstanding G&A arrears of around US$3 million and $1 million of the US$5 million Operator's fee due to Optimum Petroleum Development Company, its partner on the Block.
  • On 31st October 2019, at the time of writing, GMT 08:12 AM, LEK shares were trading at GBX 5.30, up by 0.55 points or 11.69 per cent against the previous day closing price.


The website https://kalkinemedia.com/uk is a service of Kalkine Media Ltd (Kalkine Media), Company Number 12643132. The principal purpose of the content on this website is to provide factual information only and does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. In providing you with the content on this website, we have not considered your objectives, financial situation or needs. You should make your own enquiries and obtain your own independent advice prior to making any financial decisions.
Some of the images that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed on this website unless stated otherwise. The images that may be used on this website are taken from various sources on the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image. The information provided on the website is in good faith, however Kalkine Media does not make any representation or warranty regarding the content, accuracy, or use of the content on the website.


We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK