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Rex: Lime Petroleum Holding Provides Operational Update & Initiates Strategic Review.

19 Feb 2026 10:30

Lime Petroleum Holding AS announced the successful achievement of first oil from the AK-2H well, located in the Seme Field Block 1 in Benin. Production from the well is expected to commence within the next two weeks. While this operational milestone marks an important step forward for LPH, the drilling operations encountered significant technical complications, resulting in a material increase in drilling costs and a production delay of more than three months. This has had a material adverse effect on LPH's financial position, and the Board of Directors and management are taking all appropriate actions to safeguard creditor interests and maximise recoveries...

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Source: ShareInvestor Express