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Lekoil CEO on Otakikpo upgrade and exploration upside

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Lekan Akinyanmi, the chief executive of Lekoil (LON:LEK), explains what the upgrade to the size of the Otakikpo oilfield offshore Nigeria means for investors. Otakikpo is now estimated to contain 56.75mln barrels of oil, up from the prior estimate of 36mln barrels. He says the to-do list before reaching production at Otakikpo – expected by midway through next year – includes wrapping up debt financing.

Quick facts: Lekoil Ltd

Price: 2.75 GBX

AIM:LEK
Market: AIM
Market Cap: £14.75 m
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