Request for bondholder approval for a temporary waiver and deferral, and Benin operations update

09 Jan 2026 23:10 CET

Lime Petroleum Holding AS has requested bondholder approval for a temporary
waiver and deferral under its senior secured bond issues with ISIN NO0013276410
and NO0013664508. The request is made following delays and operational
interruptions in drilling activities at the Sémé field offshore Benin, which
have resulted in a postponement of the start-up of oil production and a
temporary impact on the issuer’s liquidity position.

Notwithstanding the drilling challenges encountered, drilling has confirmed the
presence of hydrocarbons in the reservoir fully in line with pre-drill
expectations.

Due to delayed production revenues, combined with additional drilling-related
costs, the issuer is experiencing short-term liquidity constraints. The issuer
therefore requests bondholder consent to defer interest payments due in January
2026, with settlement to take place no later than 31 March 2026, including
applicable late payment interest. In addition, the issuer has requested a
temporary waiver and suspension of the minimum liquidity covenants until 31
March 2026. The issuer’s main shareholder has initiated a process to raise
additional equity; however, proceeds are not expected to be available prior to
the deferred interest payment due dates. No other amendments to the bond terms
are proposed.

More information:
Access the news on Oslo Bors NewsWeb site

663428_NO0013276410 and NO0013664508 - WR - dated 09012026(5401449.1).pdf
663428_2026-01-09 LPH - Akrake Petroleum expect to start production in Sèmè field in end January 2026.pdf