BDO.LiveSite.Deals.DealTypeCapital markets
The BDO Transaction Services team acted as Reporting Accountant on the recent AIM IPO of Lekoil Limited. Lekoil is an African focused oil and gas exploration and production company. It has recently entered into a farm out agreement with Afren PLC to acquire an interest in OPL310, an offshore Nigerian asset located in the Dahomey-Benin Basin. The initial exploration well was spudded in April 2013 and is currently drilling. In addition, Lekoil is the operator of two Namibian offshore exploration blocks located in the prospective Luderitz Basin. Lekoil raised £32m before expenses, giving a market capitalisation on admission of approximately £73m. This is the largest AIM IPO to date in 2013.