By Henry Ojelu

An oil investment firm, Petroleum Zion Limited has warned against any meddling or sales of the shares of FHN26.

Addressing a press conference in Lagos, lawyer to the firm, Dr. Monday Ubani stated that FHN26 assets is currently a subject matter under litigation and warned that anyone purporting to sell or buy the assets of the company is doing so at their own risk.

Speaking at the press conference, Ubani said: “Our client Petroleum Zion Limited has observed that some entities are purporting to own and through some international banks attempting to transfer or dispose the shares of FHN26 Limited.

“FHN26 Limited is the licensee and holder of 45% working interest in OML26 Oil Block (the Asset), which is the subject of the above suit number LD/3403CMW/2017 and other relevant suits all still pending at the Lagos State High Court, the Federal High Court and the Federal Court of Appeal  of Nigeria, respectively. 

“The ownership and disposal of the shares in FHN26 Limited, its subsidiaries or in their assets or equity interest thereof constitute abuse of the subject matter of the suits above still pending in the Nigerian Courts. 

“The substantive suit LD/3403CMW/2017 was filed in 2017 by Petroleum Zion Limited against the defendants PJT Partners UK Limited (a subsidiary of Blackstone UK), African Capital Alliance Limited (A Cayman Island Company), Capital Alliance Nigeria Limited (CAPE), Vertex Energy Limited, First Hydrocarbon Nigeria Company Limited, FHN26 Limited, Welmington Trust (London) Limited, Mr. Simon Jonathan Appell, Mr. Daniel Imison,  Ms. Catherine Williamson and Mr. Femi Bajomo. 

“All actions regarding any claim of ownership or contemplated disposal of interest or shares are hereby precluded on account of the pending suits.”