Business
Proposed Acquisition of Interest in OML113
Proposed Acquisition of Interest in OML113.
About this update from Fenikso Ltd
[{"type":"text","content":"\n \nRNS Number : 4101S Lekoil Limited 07 November 2013 \n \n\n7 November 2013\n \n \nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA\n \nLekoil Limited\n(\"Lekoil\" or the \"Company\")\n \nUpdate on the Proposed Acquisition of Interest in OML113, Offshore Nigeria\n \nLekoil (AIM: LEK), the oil and gas exploration and development company with a focus on Nigeria and West Africa, announces that, further to the announcement on 31 October 2013 ('Intention to raise approximately US$100 million'), the Company is currently in discussions with Panoro Energy ASA (\"Panoro\") with regards to securing an extension to the deadline of 6 November 2013 until 25 November 2013. This is in relation to the final outstanding payment of approximately US$27 million (inclusive of cash calls, and net of a US$1 million payment made on 31 October 2013) to be paid to Panoro in order to complete the Aje Acquisition. Whilst Lekoil is hopeful that an extension will be agreed, Panoro has the right to call the bid bond and terminate the agreement for the Aje Acquisition until such time as an extension is formalized.\n \nFurther updates will be provided as and when appropriate. \n \nCapitalised terms in this announcement, unless otherwise defined, have the same meaning assigned to them in the announcement issued on the afternoon of 31 October 2013.\n \nFor further information, please visit www.lekoil.com or contact:\n \n\n\n\n\nLekoil Limited\nDave Robinson, Chief Financial Officer\n \n\n\n+44 20 7920 3150\n \n\n\n\n\nStrand Hanson Limited (Financial and Nominated Adviser) \nJames Harris / James Spinney / Ritchie Balmer\n \n\n\n \n+44 20 7409 3494\n\n\n\n\nMirabaud Securities LLP (Broker)\nPeter Krens\nEdward Haig-Thomas\n \nLadenburg Thalmann & Co. Inc. (US Placing Agent)\nJim Hansen\nBarry Steiner\n \n\n\n \n+44 20 7878 3362\n+44 20 7878 3447\n \n \n+1 713 353 8914\n+1 305 572 4200\n\n\n\n\nTavistock Communications (Financial PR)\nSimon Hudson / Conrad Harrington / Ed Portman\n\n\n+44 20 7920 3150\n\n\n\n\n \nCertain statements in this Announcement are forward-looking statements which are based on the Company's expectations, intentions and projections regarding its futu...