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DJ Lekoil Limited Processing of Payment for OPL 310 Ongoing

TIDMLEK

RNS Number : 4722H

Lekoil Limited

25 March 2020

25 March 2020

Lekoil Limited

("LEKOIL" or the "Company")

Processing of Payment for OPL 310 Ongoing

LEKOIL (AIM: LEK), the oil and gas exploration and production company with a focus on Nigeria and West Africa, announces today that the Company is in the process of making the agreed payment of US$2.0 million for OPL 310 in accordance with the agreement reached and announced by the Company on 21 January 2020.

The payment is to cover the portion of sunk costs and consent fees due on 20 March 2020, with an additional and final payment due in May 2020. The Company has given instructions for the payment to be made by its bank and will provide a further update when this process is completed.

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

For further information, please visit www.lekoil.com or contact:

 
LEKOIL Limited 
 Ore Bajomo, Investor Relations                          +44 20 7457 2020 
Strand Hanson Limited (Financial & 
 Nominated Adviser) 
 James Spinney / Ritchie Balmer / Georgia 
 Langoulant                                              +44 20 7409 3494 
Mirabaud Securities Limited (Joint 
 Broker)                                        +44 20 7878 3362 / +44 20 
 Peter Krens / Edward Haig-Thomas                               7878 3447 
Numis Securities Limited (Joint Broker) 
 John Prior / Emily Morris                               +44 20 7260 1000 
Instinctif (Financial PR)                                +44 20 7457 2020 
 Mark Garraway / Dinara Shikhametova                lekoil@instinctif.com 
 / Sarah Hourahane 
 

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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March 25, 2020 03:00 ET (07:00 GMT)