Lagos, Nigeria, 14 December 2011 – First Hydrocarbon Nigeria Limited (“FHN” or the “Company”) has today announced the appointment of Femi Bajomo as Chief Operating Officer.
Lagos, Nigeria, 1 December 2011 – First Hydrocarbon Nigeria Limited (“FHN” or the “Company”) has announced that it has completed the acquisition of a 45% interest in OML 26 from the Shell Petroleum Development Company of Nigeria Ltd ("SPDC"), Total E&P Nigeria Ltd (“Total”) and Nigeria Agip Oil Company (“Agip”). The Company also announced that it has reached completion on debt financing facilities totaling up to US$280 million. The first facility provides up to US$230 million of acquisition and development finance over five years with FCMB Capital Markets Limited (“FCMB”) as Global Coordinator and FCMB and Stanbic IBTC Bank Plc (“Stanbic”) as Mandated Lead Arrangers and book runners. The second facility provides US$50 million of mezzanine finance over six years from the Pan-African Investment Partners II (“PAIP II”) Fund, managed by Kingdom Zephyr Africa Management (“Kingdom Zephyr”).
Lagos, Nigeria, 26 January 2011 – Following its announcement in October 2010 that First Hydrocarbon Nigeria ("FHN" or the "Company") had reached a Definitive Agreement with Shell Petroleum Development Company of Nigeria Ltd ("SPDC"), Total E&P Nigeria Ltd ("Total") and Nigeria Agip Oil Company ("NAOC") for the acquisition of their combined 45% interest in OML 26, transitional work and planning is underway and progressing well in order to ensure a smooth transfer of operational control. FHN management is in the process of obtaining standard requisite approvals, which are expected shortly.
Lagos, Nigeria, 31 December 2010 – First Hydrocarbon Nigeria Limited (“FHN” or the “Company”) has today announced the appointment of Constantine ‘Labi’ Ogunbiyi as Chief Executive of the Company.
Lagos, Nigeria, 1 November 2010 – First Hydrocarbon Nigeria Limited ("FHN" or the "Company") announces the acquisition of an equity interest in the Company by African Capital Alliance ("ACA"), a leading Nigerian private equity firm. The investment in the Company is non dilutive to existing shareholders. ACA is committed to lending further support to other FHN projects in Nigeria.
Lagos, Nigeria, 21 October 2010 – First Hydrocarbon Nigeria Limited (“FHN” or the "Company") has announced the reaching of Definitive Agreements with Shell Petroleum Development Company of Nigeria Ltd ("SPDC"), Total E&P Nigeria Ltd ("Total") and Nigeria Agip Oil Company Limited ("NAOC") (together SPDC, Total and NAOC are referred to as the "SPDC JV"), for the acquisition of a 45 per cent interest in OML 26, Delta State onshore Niger Delta.
Abuja, Nigeria, 23rd April 2010 - Following, the Board Meeting held in Abuja, Nigeria on 23rd April 2010, First Hydrocarbon Nigeria Limited ("FHN" or the "Company") confirms the appointment of Senator Udoma Udo Udoma and Tosin Runsewe as Directors of the Company.