$25m Debt: H-PTL appoints interim administrators for Green Energy, Lekoil
Mr Chimezie Victor C. Ihekweazu SAN has been appointed as interim administrator for the assets of Green Energy and Lekoil with immediate effect.
This follows the failure of both companies to honour a $25.5m debt obligation to H-PTL.
Green Energy and Lekoil as Joint venture partners in Okatikpa Field under Petroleum Mining Lease (PML) 11 located in Andoni , River State, are indebted to H-PTL Energy Services Limited in the sum of USD$25.5million since mid 2025 and have been unable to liquidate the overdue debt despite acknowledging the debt in writing.
Despite demands and notices made by H-PTP the debt remains unpaid and the two debtors had become evasive and, belatedly, attempted to dispute the already agreed debt.
Consequently, H-TPT has commenced a court ordered administration against Green Energy and Lekoil with the appointment of an interim administrator and also attached all the bank accounts, receivables and stock of crude oil belonging to, and produced from the two creditors’ Okatikpa field for preservation, pending the administration or determination of pending motions.
With this development the management, and administration of the two companies and their interest in the oil field and finances are now under the control of the interim administrator , Mr Chimezie Victor C. Ihekweazu SAN with immediate effect.
