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Daily Trust - Malabu oil: Court dismisses FG s objection, fixes hearing fo

Also, dismissed were similar objections by Shell Nigeria Ultra-Deep Limited, Shell Nigeria Exploration and Production Company Ltd and Nigeria Agip Exploration Company Ltd, who are all defendants in the suit. The defendants had arrived that the matter had become statute-barred having been filed outside three months of the cause of action. But Justice Nyako held that the cause of action borders on an issue that is continuous. Malabu Oil and Gas Ltd through its witness, Mohammed Sani Abacha and counsel, Reuben Atabo Esq, brought the action over the disputed Resolution Agreement of April 29, 2011, on Block 245. The case has been adjourned to March 9 for hearing.

Re-examining Metallon s interest in Lekoil

A South African based mining firm with an unimpressive track record has perfected plans to take over an oil company operating in Nigeria. Stakeholders believe that it will replicate its poor performance in Nigeria if left unchallenged. Four weeks ago, Metallon Corporation Limited, a South African company with an unimpressive track record, started a process that could significantly alter the management and allegiance of LEKOIL Nigeria Limited, a 10-year-old Nigerian company. On 15, November 2020, Lekoil received a notice from Strand Hanson of its resignation as nominated adviser, with effect from close of business 20, November 2020. On the same date that Strand Hanson’s resignation took effect, Lekoil received a letter from Metallon requesting an extraordinary general meeting.

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