UK 05:19 Saturday, 17 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
We warned continually before 1st October Lekoil (LEK) shares suspension – most recently before that with “Director Loan – Update”, why don’t I think this is going to be good news?. However, Peter Brailey recently noted the company having since needed to continue issuing announcements and these meriting comment for their puke value. And today... “Notification of legal claim”.
Previously writing on Lekoil Limited (LEK) I noted dynamite accusations from its own operating subsidiary, and also more woe for SP Angel?. Now that operating subsidiary, in which it has a 40% equity interest, Lekoil Nigeria, has announced it is to make an offer for Lekoil Limited shares and Lekoil Limited has responded...
Previously writing on Lekoil (LEK) I noted announces results but shares still suspended. Yet more farce. Today its operating business in which it has a 40% equity interest, Lekoil Nigeria, has released a letter concluding that “in the absence of any satisfactory response, we shall initiate requisite steps to enforce the interests of all minority shareholders”. From bad to worse?...
Lekoil (LEK), describing itself as an “oil and gas exploration and production company with a focus on Nigeria and West Africa”, has announced half-year 2021 results. After from fake sheikhs to now subsidiary CEO farce, yet more farce?...
Describing itself as an “oil and gas exploration and production company with a focus on Nigeria and West Africa” despite having admitted principal subsidiary, Lekoil Nigeria, “has stated it will no longer fund any of the costs of the company from the cash flow generated from its producing asset, Otakikpo”, Lekoil (LEK) has now made a “Director Loan – Update”-titled announcement. Now why don’t I think this is going to be good news?...
I previously wrote on supposedly “oil and gas exploration and production company with a focus on Nigeria and West Africa” Lekoil (LEK) in June, noting SHOCKER AGAIN!; from fake sheikhs to now subsidiary CEO farce… you couldn’t make it up!. That was with the company’s recent CEO Olalekan Akinyanmi having “without the prior knowledge or consent of the company, entered into an employment contract with Lekoil Nigeria Limited, to act as its Chief Executive Officer, with effect from 1 January 2021” – Lekoil Nigeria Limited supposedly being Lekoil’s principal subsidiary! Now Lekoil reckons it “is pleased to provide” a corporate & operational update...but the shares are further lower...
The CEO, a NED and the CFO has gone. Lekoil Nigeria - 40% owned by Lekoil PLC (LEK) - accuses the AIM-listed PLC of lying about the reasons for delaying results. The company is downing in debt. What more could go wrong? Oh yes: the pesky Nigerians have half-inched the corporate website.
First it was the CEO, then a NED and now the CFO has quit, drowning in debt, AIM dog Lekoil (LEK) of fake sheikh infamy. But the resignation letter of Edward During is dynamite. Lekoil itself has not put out a statement on this matter but Lekoil Nigeria, which it owns 40% of and seems to be at war with, has. Kerboom. How long can these shares remain unsuspended? Is the Nomad, hapless SP Angel of the fraud MySquar infamy, not considering whether to walk? It should be but, then again, it is morally bankrupt.
The comedy continues at AIM uber-dog Lekoil (LEK) of fake sheikh scam infamy. Three directors of Lekoil have today resigned and have written to AIM Regulation asking those crack regulators to investigate the company. Cripes do they not know about the Oxymorons? You may remember that on June 10 Lekoil fired its CEO, Mr. Olalekan Akinyanmi. On the grounds that he was also CEO of Lekoil Nigeria in which the AIM dog has a 40% stake.
Supposedly “oil and gas exploration and production company with a focus on Nigeria and West Africa” Lekoil (LEK) seems more focused on providing followers comedy farce. After last year apparent funding agreement sheikhs turned out to be fakes, now a “Corporate Update” including that the company’s CEO until last week Olalekan Akinyanmi had “without the prior knowledge or consent of the company, entered into an employment contract with Lekoil Nigeria Limited, to act as its Chief Executive Officer, with effect from 1 January 2021”!
It can't be very entertaining being a shareholder in Lekoil (LEK), but get your beer and popcorn at the ready for it sure is entertaining watching from the sidelines as this company goes down the plughole.
Lekoil (LEK) RNS’ed late yesterday that a significant shareholder (Metallon Corporation Limited), which holds 15.4% of the company equity has called for an EGM. It’s proposing three interesting new directors be elected to the board. With the shares suspended and the balance sheet a train wreck, the Lekoil board has the audacity to claim this is an attempt to control the company on the cheap!...
Lekoil (LEK) – the AIM casino company of fake sheikh infamy – has today announced that its Nomad, Strand Hanson, will quit with effect from 20 November, that is to say Friday. But fear not, discussions with another Nomad – one would assume the joint broker SP Angel which will act for anyone at all, no questions asked – are “advanced”.
