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Confirmation of Completed Optimum Payment

Source: www.gulfoilandgas.com 7/15/2020, Location: Africa

LEKOIL, the oil and gas exploration and production company with a focus on Nigeria and West Africa, announces that the Company, in accordance with the agreement which was announced on the 30 April 2020, has received confirmation that the payment of US$1.0 million to Optimum Petroleum Development Company ("Optimum"), the Operator of the OPL 310 Licence, to cover the portion of sunk costs and consent fees due on or before 15 July 2020, has been completed.

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