LONDON (Alliance News) - Lekoil Limited Thursday said it is in discussions with Panoro Energy ASA in order to secure an extension to the deadline for the acquisition of interest in the OML113 block, offshore Nigeria.
The oil and gas exploration and development company said it wants to extend the deadline to November 25 from November 6, in order to provide an outstanding payment of USD27 million in order to complete the acquisition.
In June, the company announced the proposed acquisition of a 6.502% stake in the OML113 site for a consideration of USD30.0 million from Panovo.
Lekoil shares were up 0.9% to 56.00 pence Thursday.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
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