LEKOIL, the AIM listed oil and gas exploration and production company with a focus on Nigeria and West Africa, announces that LEKOIL Oil and Gas Investments Limited ("LOGL"), a member of the LEKOIL Limited group, has fully repaid the outstanding Advance Payment Facility with Shell Western Supply and Trading Limited ("SWST") (a member of the Royal Dutch Shell plc group of companies) from the proceeds of the new US$11.5 million debt facility obtained from FBNQuest Merchant Bank ("FBNQuest"), as announced on 25 October 2019.

Following this repayment, LOGL has an outstanding balance of interest-bearing loans and borrowings (excluding intercompany loans) of US$21.4 million.

Lekan Akinyanmi, LEKOIL's CEO, commented, 
"We would like to thank Shell Western for their support with our business operations and look forward to continuing our mutually beneficial and value enhancing relationship."

Link to Lekoil Nigeria country profile