Director Loan - Update of Legal Claims

Source: 1/19/2022, Location: Africa

LEKOIL, the oil and gas exploration and production company with a focus on Nigeria and West Africa, notes that as previously announced, the recovery of the CEO loan made to Mr. Olalekan Akinyanmi is the subject of two lawsuits, one brought by the Company in the Courts of England & Wales and one brought by Mr. Akinyanmi in the Courts of New Jersey.

In respect of the Company's lawsuit brought in England & Wales, the Courts have declined to accept jurisdiction over the matter.

In respect of the Mr. Akinyanmi's lawsuit brought in New Jersey, the Company is expecting a hearing on the relevant jurisdiction for the claims in the very near future.

Upon receipt of both judgements, the Company will update the market as to the next steps in the recovery of the CEO loan.

The Company believes that the current outstanding balance of the CEO loan is circa US$1.5m.

Chile >>  8/5/2022 - Innergex Renewable Energy Inc. (TSX: INE) (“Innergex” or the “Corporation”) announces the successful completion of a US$803.1 million (CAN$1.032 billi...
Sweden >>  8/5/2022 - Highlights
- USD 12.9 billion gain recorded to income statement resulting from the lex asea distribution related to the Aker BP transaction

Turkey >>  8/5/2022 -  Valeura Energy Inc. (VLE) (“Valeura”), the upstream oil and gas company with assets in the Thrace Basin of Turkey and in the offshore Gulf of Thailan...
United States >>  8/5/2022 - Global Partners LP (GLP) (“Global” or the “Partnership”) reported financial results for the second quarter ended June 30, 2022. ...

Canada >>  8/4/2022 - Murphy Oil Corporation (MUR) announced its financial and operating results for the second quarter ended June 30, 2022, including net income attributab...
China >>  8/4/2022 - -Expro Group Holdings N.V. (XPRO) (“Expro”) reported financial and operational results for the three and six months ended June 30, 2022.

Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.