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Oil Capital
EPIC: LEK
Market: AIM
52-week High/Low: 29.75p / 14.25p
Sector: Energy
Market Cap: 106.66M
Phone: +44 (0)20 7920 3150
Address: 179A Moshood Olugbani Street, Lagos, Nigeria.
Website: www.lekoil.com

Africa focused exploration and production company.Management and board with strong technical and financial experience and relationships on continent. Lekoil Nigeria recently entered into a farm out agreement with Afren PLC to acquire an overall 30 per cent economic interest, including a 17.14 per cent participating interest, in OPL310, an offshore Nigerian asset located in the Dahomey-Benin Basin 

Lekoil is traded in the ISDX Exchange HERE

Lekoil Ltd

www.lekoil.com

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Big picture - Why invest in Lekoil Ltd

Lekoil Ltd Snapshot

Background

Africa focused exploration and production company
Management and board with strong technical and financial experience and relationships on continent
Lekoil Nigeria recently entered into a farm out agreement with Afren PLC to acquire an overall 30 per cent economic interest, including a 17.14 per cent participating interest, in OPL310, an offshore Nigerian asset located in the Dahomey-Benin Basin


On-going corporate activity

Participated in Shell and Conoco Nigeria divestment processes and reviewed opportunities through the continent
Majority owner of Blocks 2514A&B in Namibia

Group Overview

LEKOIL Cayman has been formed by professionals who have extensive experience in both global oil exploration and global financial markets.
Our value proposition focuses on "local implementation facilitated by global resource access".
Our experienced management team and board understand the operational, regulatory, environmental and security issues that drive successful operations in Africa.
Board members managed portfolio of $15Bn+ equity investments in listed natural resource companies.
Technical team has deep expertise in exploration, production and geophysics in Nigeria, Middle-East and Europe.
At board and management level we have existing strong and long-developed relationships with Government, major International Oil Companies (IOC's), large independent Exploration & Production companies (E&P's) and global financial institutions.
LEKOIL's African activities are centralised through a group holding company structure based in the Cayman Islands. We coordinate our African activities from Lagos, Nigeria.

Past transactions
Joint bid for Shell Nigeria's OML 30 (Shell Divestment Asset) with Afren and Dragon Oil.
Joint bid for OML 40 (Shell Divestment Asset) with local partner and PE firms.
Joint bid for ConocoPhillips Nigerian Divestment Asset with Strategic Partner.

Lekoil Strategy -  Please click here for more information

NAMIBIA 2514A & B

Exploration details

Overview

2 Blocks in Luderitz Basin
Prior History of Oil Seeps
Acreage ~ 10,000 Km2
LEKOIL has acquired net 77.5% stake and is operator of block
Operation status
Technical advisory committee meetings
held with Namibian government
Currently reviewing historical seismic and  well data
To commence seismic acquisitions within 24 months

 


NIGERIA DAHOMEY BASIN OPL310

Click here for more information.

Samuel Adegboyega - Non-Executive Chairman

Samuel, aged 59, has over 30 years’ experience in the oil and gas industry, and is currently Managing Director of SOWSCO Well Services (Nig.) Ltd., in Port Harcourt, Nigeria.  Samuel is a member of the Board of Trustees Ile-Oluji Economic Summit Group, a traditional local community leadership organisation as well as being a founding member of S.T. Adegboyega & Co., a Nigerian law firm.

Samuel is a founding member and current Executive of the Petroleum Technology Association of Nigeria, an association formed to bring together Nigerian oil and gas enterpreneurs.  Samuel graduated from the University of Ibadan with a degree in Petroleum Engineering.

 

Olalekan Akinyanmi - Chief Executive Officer

Olalekan (“Lekan”), aged 41, has over 20 years’ experience in the oil and gas industry, most recently with AllianceBernstein L.P. in New York where he spent six years as a research analyst and portfolio manager covering Energy and Materials worldwide.

Lekan has held senior positions at UBS Investment Research, 3Fold Ventures and Encabler Inc, a Californian headquartered technology company specialising in interactive television software, which he founded in June 2000, as well as successfully negotiating and raising the first round of equity capital for the Company’s operations.

Prior to founding Encabler Inc, Lekan worked as lead engineer for Schlumberger Limited, where he advanced High Pressure High Temperature wireline operations for Texaco’s North Sea oil prospects.  Lekan’s work at Schlumberger took him to a number of different petroleum jurisdictions including Scotland, Oman, Pakistan, Egypt and Nigeria.

Lekan graduated from the Obafemi Awolowo University in Nigeria with a Bachelor of Science Degree in Electronic and Electrical Engineering and also holds an MBA from Massachusetts Institute of Technology (MIT) Sloan School of Management.  He is also a Member of the Society of Petroleum Engineers.

 

David Robinson - Chief Financial Officer

David, aged 42, has over 20 years’ experience in global financial markets and most recently worked as senior vice president and global sector head for Energy and Natural Resources at AllianceBernstein L.P., where he managed multi-billion dollar equity portfolios for institutional and mutual fund clients.

David has extensive experience in corporate analysis and research, and prior to working for AllianceBernstein L.P., he worked for HSBC Securities, Credit Suisse First Boston and Westpac Investment Management.

David graduated from the University of Western Sydney with a Bachelors degree in Commerce, majoring in Accounting and later attained a Graduate Diploma in Applied Finance and Investment from the Securities Institute of Australia.  David is also a Chartered Financial Analys

Gregory Eckersley - Non-Executive Director

Gregory (“Greg”), aged 48, has 25 years’ experience in international financial markets. He is the global head of the Abu Dhabi Investment Authority’s internal equities department, where he oversees portfolios, risk management and the due diligence process.

Prior to joining the Abu Dhabi Investment Authority, Greg worked for AllianceBernstein L.P. in New York, where he acted as Senior Portfolio Manager, leading a team responsible for the construction, management and risk control of multiple global and international growth equity portfolios.  Prior to this appointment he was with AllianceBernstein in South Africa as Chief Executive of its regional offices, Draycott Partners, Century Asset Management and Cigma International Investment Advisors in London.

Greg graduated from Oxford University in 1987 with a degree in Philosophy, Politics and Economics (PPE), where he also received a Rhodes scholarship.  He then undertook a programme in Investment Management and Modern Portfolio Theory at the London Business School

 

Atedo Peterside - Non-Executive Director

Atedo, aged 57, has over 30 years’ banking and financial experience, most recently as the Chairman of Stanbic IBTC Holdings PLC, the holding company for a group of financial services companies in South Africa, Nigeria and more generally Sub-Saharan Africa, and, prior to that, as Chief Executive Officer of IBTC Chartered Bank Plc (“IBTC”).  During his time with IBTC Atedo led the bank’s growth campaign and capital markets assignments leading up to the merger with Stanbic in 2007.

Atedo is the Founder and President of the ANAP Foundation, a non-profit organisation committed to promoting good governance at national, state and local government levels.  He currently holds several additional directorships in Nigeria, including Chairman for Cadbury Nigeria Plc, Director of Unilever Nigeria Plc and Director of Nigerian Breweries Plc.

Atedo graduated from City University, London, with a degree in Economics, following which he obtained a post graduate degree in Economics from the London School of Economics and Political Science

Aisha Oyebode - Non-Executive Director

Mrs. Aisha Oyebode is the CEO of the Murtala Muhammed Foundation and Group Chief Executive Officer, Asset Management Group (AMG) Limited. Prior to becoming CEO, Aisha was the Executive Director of AMG from October 1991-June 1993. Aisha is a legal practitioner with an LL.M (Public International Law) from Kings College, University of London and a Masters in Business Administration (MBA) with a distinction in Finance from Imperial College, University of London.

Mrs. Oyebode has several years of practical experience in corporate and litigation matters having worked in the prestigious law firm of Ajumogobia, Okeke, Aluko and Oyebode. She was called to the Nigerian Bar in 1989. She has completed several attachments with global financial institutions which include Caisse Privee Banque, Brussels; Banque Rivaud, Paris; and Banque Privee, Geneva. Aisha also serves as a member of various boards...

John Van Der Welle - Non-Executive Director

John, aged 57, has over 25 years’ oil industry experience, having qualified as a chartered accountant with Arthur Andersen in 1981. He is a member of the Association of Corporate Treasurers and the Institute of Taxation.

After 11 years at Enterprise Oil where he was Business Development Manager and subsequently Group Treasurer, John has been Finance Director of a number of listed E&P companies, including Premier Oil between 1999 and 2005.

He was Managing Director and Head of Oil and Gas at the Royal Bank of Scotland in 2007-2008 and, since 2010 has worked as a consultant to, and non-executive director of, a number of listed and private E&P companies including, most recently, his appointment to the board of Hurricane Energy Plc.

SIGNIFICANT SHAREHOLDERS TABLE

Last updated on 5 August 2014



Shareholder
No. of
Ordinary
Shares


shareholder
Olalekan Akinyanmi 39,138,601 10.8%
Capital Group Companies Inc. 34,872,000 9.6%
Senator Investment Group LP 29,060,500 8.0%
Jennison Associates LLC 27,058,041 7.5%
BlackRock Investment Management 26,911,500 7.4%
FIL Limited 18,263,340 5.0%
Fidelity Investments LLC 14,398,000 3.9%
YF Finance Limited 13,516,986 3.7%
 

 

Email
[email protected]

[email protected]

Media contact
Hamilton Esi, Vice President Corporate Communications
+234 1 2770560
+1 609 945 0805
[email protected]

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