Lime Petroleum is experiencing a significant liquidity crisis, primarily triggered by cost overruns and delays at the Seme oilfield project in Benin. This financial strain has forced the company to postpone its upcoming financial results while it seeks a resolution.

Threat to Norwegian Assets

The liquidity issues directly threaten Lime's interests in two key Norwegian assets. The company faces imminent cash call requirements for its 25% stake in the producing Yme field and its 17% stake in the Bestla development. If Lime fails to meet these payments by their respective grace periods in early and late April 2026, it risks losing these interests entirely.

Current Financial Position and Legal Obligations

Lime's parent company, Rex International, states that a formal plan to address the short-term liquidity problems has not yet been finalized. While cash calls are current for its key producing asset, the Brage field, the company's board now has an increased legal obligation under Norwegian law to protect creditor interests due to the financial situation.

Recapitalization Efforts

In response to the crisis, the bond trustee has initiated a process to seek expedited approval from bondholders for potential interim liquidity funding. This step is in anticipation of a comprehensive group recapitalization. Market updates will be provided in compliance with Singapore Stock Exchange regulations.

Production Figures

Despite its financial troubles, Lime maintained an average production of 9,188 barrels of oil equivalent per day in the first half of 2025. For the full year in Norway, the company estimates its production will range between 10,000 and 11,000 boepd.