As of May 2026, the balance sheet has been transformed relative to March 2025. The SEIL liability — the main overhang — was fully eliminated in December 2025, negotiated down from $11.5m to $5.76m and repaid ahead of schedule. Fenikso now has no debt whatsoever and essentially the sole balance is a set of future cashflows from LOGI.
Fenikso Limited, formerly known as Lekoil Limited, is a Cayman Islands-based holding company focused on the oil and gas sector in Nigeria. Its principal asset is a US$51.9 million loan extended to Lekoil & Gas Investments (LOGI), a wholly owned subsidiary of Lekoil Nigeria. This loan is being repaid through proceeds from oil sales at the Otakikpo field, with Fenikso entitled to 8.65% of the revenue generated. The company is listed on the Aquis Exchange under the ticker FNK.
FNK Today
As of March 2025, the business is essentially composed of three primary items:
NFT Investments Plc was listed on the Aquis Exchange in April 2021 with a market cap of c. £50m as a NFT (Non-Fungible Token) investment fund. Over the following 12 months, various hyped NFT investments were made until the crypto collapse in 2022 - where FTX was outed as ponzi and bitcoin tumbled c. 400%.
In September 2022, NFT announched it was focussing on preserving cash reserves until the outlook for digital assets had improved.
NFT Today
As of August 2023, the balance sheet is composed of cryptocurrency (£27m), a small amount of cash (£2m)...
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