African-focused explorer Lekoil has missed a deadline for its bid to acquire the Aje field in Nigeria.
The company said today it was in talks over extending the deadline until November 25 over the final £16.8million for a 6.5% stake in the field.
The offshore site, around 24km from the coast, contains oil and gas reserves and is thought to contain almost 200million barrels of oil equivalent.
THe final instalment of the fee for the deal with Panoro energy was due last night, with the company now hoping it can secure an extra two weeks to cover the fee.
“Whilst Lekoil is hopeful that an extension will be agreed, Panoro has the right to call the bid bond and terminate the agreement for the Aje Acquisition until such time as an extension is formalized,” the company said.
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