Lekoil has decided to terminate the binding conditional SPA that Pan Petroleum Aje Ltd., Pan-Petroleum Nigeria Holding BV, and Pan-Petroleum (Holding) Cyprus Ltd. entered into on June 17, according to which it proposed to acquire an interest in OML 113 in Nigeria. Lekoil said the inability of the parties to agree to final terms led […]

In a company statement Lekoil announced its intention to acquire a 6.5% stake in OML 113 offshore Nigeria from Panoro Energy subsidiary, Pan Petroleum Aje Ltd. The block contains the Aje oil and gas field. The purchase price is $30 million. Lekoil CEO Lekan Akinyanmi commented in the company statement: “The acquisition of an interest […]