Business
OPL 310 Licence Relief from Expiration
OPL 310 Licence Relief from Expiration.
About this update from Fenikso Ltd
[{"type":"text","content":"\n \nRNS Number : 4071I Lekoil Limited 26 November 2018 \n\n26 November 2018\n \nLEKOIL Limited\n(\"LEKOIL\" or the \"Company\")\n \nOPL 310 Licence Relief from Expiration\n \nLEKOIL (AIM: LEK), the oil and gas exploration, development and production company with a focus on Africa, announces that the Company has written to the Federal Ministry of Petroleum Resources for a relief from enforcement of expiration of the exploration licence for lease OPL 310 in which it holds an unconditional 17.14 per cent interest and an additional 22.86 per cent interest, which is subject to Ministerial consent.\n \nLEKOIL has requested that the Ministry grant an extension of the license beyond February 2019 in order to recover the three years and one month lost due to regulatory delays beyond the control of the Company and thereby enable the current holders of participating interests in OPL 310 to fulfil the requirements for the conversion of OPL 310 to an OML.\n \nLekoil believes it has valid grounds under the relevant Petroleum Act of 1969 for being granted an extension, and will provide an update in due course. \n \nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (\"MAR\").\n \nFor further information, please visit www.lekoil.com or contact:\n \n\n\n\nLEKOIL Limited\nAlfred Castaneda, Investor Relations\nLisa Mitchell, Chief Financial Officer\n \n\n\n \n+44 20 7920 3150\n \n\n\n\n\nStrand Hanson Limited (Financial & Nominated Adviser)\nJames Harris / James Spinney / Ritchie Balmer\n \n\n\n \n+44 20 7409 3494\n \n\n\n\n\nMirabaud Securities Limited (Joint Broker)\nPeter Krens / Edward Haig-Thomas\n \n\n\n \n+44 20 7878 3362 / +44 20 7878 3447\n\n\n\n\nBMO Capital Markets (Joint Broker)\nJeremy Low / Thomas Rider\n \n\n\n \n+44 20 7236 1010\n\n\n\n\nNumis Securities (Joint Broker)\nJohn Prior / Ben Stoop\n \n\n\n \n+44 20 7260 1000 \n\n\n\n\nTavistock (Financial PR)\nSimon Hudson / Nick Elwes / Barney Hayward\n\n\n \n+44 20 7920 3150\n\n\n\n \n-ends-\n\nThis information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as ...