LONESTAR Drilling Nigeria  Limited has dismissed the speculation that the company was being liquidated.

Technical Assistant to the Executive Chairperson and son of the founder, Mr. Lovett Idisi, who spoke to newsmen  in Port Harcourt on the state of the firm, blamed detractors for the speculation.

Idisi added that the firm recently appointed   Mr.  John Pickford as the Managing Director and Sam Ewan as Administration Manager, saying there was no iota of truth in the claim that the firm was liquidating.

He said the restructuring at the managerial level of the firm after the passage of his father and founder, the late Chief Humphrey Idisi, about three years ago, brought about some changes which did not go down well with some top managerial staff.

“We are doing well. We are in business”, he stressed.  He said the future of the firm was bright and it would continue to play its lead role in the oil and gas sector.