Business
First Crude Payment, Production Ramp-Up Ongoing
First Crude Payment, Production Ramp-Up Ongoing.
About this update from Fenikso Ltd
[{"type":"text","content":"\n \nRNS Number : 7777G Lekoil Limited 01 June 2017 \n\n01 June 2017 \n \nLEKOIL Limited \n(\"LEKOIL\" or the \"Company\")\n \n\nFirst Crude Payment Received, Production Ramp-Up Ongoing\n \nLEKOIL (AIM: LEK), the oil and gas exploration, development and production company with a focus on Africa, is pleased to announce that it has received payment for its first cargo lifted from the Otakikpo Marginal Field in OML 11, announced on 10 May 2017. The high quality Otakikpo crude blend led to the Company realizing a small premium to Brent Crude pricing before marketing and related costs over the given period. \n \nCurrent production at Otakikpo is approximately 5,500 bopd. With production gradually ramping up, the Company is now looking to establish more frequent regular liftings as it focuses on increasing production through year end.\n \nFor further information, please visit www.lekoil.com or contact:\n \nLEKOIL Limited\nAlfred Castaneda, Investor Relations\nHamilton Esi, Corporate Communications\n+44 20 3434 5800\n+44 20 7920 3150\n \nStrand Hanson Limited (Financial & Nominated Adviser)\nJames Harris / James Spinney / Ritchie Balmer\n+44 20 7409 3494\n \nMirabaud Securities LLP (Joint Broker)\nPeter Krens / Edward Haig-Thomas\n+44 20 7878 3362 / +44 20 7878 3447\n \nBMO Capital Markets (Joint Broker)\nJeremy Low / Neil Haycock / Thomas Rider\n+44 20 7236 1010\n \nTavistock (Financial PR)\nSimon Hudson / Barney Hayward\n+44 20 7920 3150\n \n \n \nBackground to Otakikpo\nOtakikpo is sited in a coastal swamp location in oil mining lease (OML) 11, adjacent to the shoreline in the so...