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Lekoil Ltd - litigation asset company with an investment in oil & gas assets in Nigeria - Reports pretax profit of $836,000 for first half of 2022, down from $13.1 million a year before. This is due to finance income slipping to $1.8 million from $13.9 million. It anticipates share suspension will be lifted by Aquis following publication of interim report. Says it continues to face ‘considerable’ challenges. ‘The company will continue to seek recovery of the CEO loan, defend the litigation that Akinyanmi and Lekoil Nigeria have brought against it, and it will take further steps to recover its investments in Lekoil Nigeria and its subsidiaries,’ it says. Adds financial position ‘remains fragile’.
Shares last traded at 1.05 pence
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