Harboursandport.com: Lagos, 26/11/2018 ---- LEKOIL has requested the Federal Ministry of Petroleum Resources to grant an extension of the exploration license
for OPL 310 beyond February 2019 in order to recover the three years and one
month lost due to regulatory delays beyond the control of the company.
LEKOIL, the oil and gas exploration development and production
company has written to the Ministry for a relief from enforcement of expiration
of the exploration license for lease OPL 310 in which it holds an unconditional
17.14per cent interest and am additional 22.86per cent interest, which is
subject to Ministerial consent.
The information contained within this announcement is deemed by
the company to constitute inside information as stipulated under the Market
Abuse Regulations.
LEKOIL believes it has valid grounds under the relevant
Petroleum Act of 1969 for being granted an extension and will provide an update
in due course.
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