Business
Otakikpo Seismic Update
Otakikpo Seismic Update.
About this update from Fenikso Ltd
[{"type":"text","content":"\n \nRNS Number : 4105H Lekoil Limited 15 November 2018 \n\n15 November 2018\n \nLEKOIL Limited \n(\"LEKOIL\" or the \"Company\")\n \nSeismic Processing Completed at Otakikpo, Moving to Interpretation\n \nLEKOIL (AIM: LEK), the oil and gas exploration, development and production company with a focus on Africa, announces that the 3D seismic acquisition and processing operations undertaken by Sinopec Changjiang Engineering Services Limited (Sinopec) at Otakikpo in which Lekoil has a 40 per cent interest have now been completed. The Company has commenced the data interpretation stage, the results of which will form the basis of an updated Competent Person's Report to be published in Q1 2019. The seismic data interpretation is expected to complete by year-end 2018.\n \nThe Joint Venture partners, LEKOIL as Financial and Technical Partner and Green Energy International Limited as Operator, remain focused on Phase Two of the Otakikpo Field Development Plan, which aims to increase steady state production from the field up to approximately 20,000 bopd. The completion of this seismic survey, and planned development wells in the Phase Two programme, will assist the Joint Venture in optimising development and production. The Company is in discussions with potential industry partners with a view to one or more parties agreeing to fund Phase Two development costs.\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 10...