Lekoil Seeks Date with Federal High Court

Sunday, October 28, 2018

Lekoil Ltd applied to Nigeria’s Federal High Court in Lagos to “expedite” the consent process for the company’s acquisition of an additional 22.86% interest in the OPL 310 license. Currently the company holds a 40% working interest in the license and a 70% economic interest.

The company said it has not received ministerial consent or received a “satisfactory explanation” for why consent for the acquisition has not been forthcoming.

Lekoil was previously scheduled for a hearing by the judge adjourned it until November 29.

The company is in “negotiations aimed at seeking a satisfactory conclusion.”

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