25th Jul 2022 16:14
Lekoil Ltd - litigation asset company with an investment in oil & gas assets in Nigeria - Reports pretax profit of USD836,000 for first half of 2022, down from USD13.1 million a year before. This is due to finance income slipping to USD1.8 million from USD13.9 million. It anticipates share suspension will be lifted by Aquis following publication of interim report. Says it continues to face "considerable" challenges. "The company will continue to seek recovery of the CEO loan, defend the litigation that Akinyanmi and Lekoil Nigeria have brought against it, and it will take further steps to recover its investments in Lekoil Nigeria and its subsidiaries," it says. Adds financial position "remains fragile".
Shares last traded at 1.05 pence
By Lucy Heming; [email protected]
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