SEPLAT To Approach Court To Retake Sealed Office Building

Seplat Petroleum  said to would Approach the court to  legally  retake possession of its Corporate Headquarters located at 16A Temple Road, Ikoyi, Lagos.

SEPLAT in a statement said the building was sealed in connection with a court case by Access Bank against Cardinal Drilling Services Limited a third party firm providing drilling services to Seplat.

According to the statement Cardinal Drilling has outstanding loan obligations to Access Bank, but that SEPLAT is neither a shareholder in Cardinal Drilling, nor has outstanding loan obligations or guarantees to Access Bank or at any time made any commitments or guarantees in respect of Cardinal Drilling’s loan obligations to Access Bank.

The SEPLAT statement reads in part:”We understand that Cardinal Drilling has outstanding loan obligations to Access Bank. However, SEPLAT is neither a shareholder in Cardinal Drilling, nor has outstanding loan obligations or guarantees to Access Bank and did not at any time make any commitments or guarantees in respect of Cardinal Drilling’s loan obligations to Access Bank. SEPLAT strongly believes that there is no merit or justification for this action against it and has taken prompt legal action to vacate the court order pursuant to which the building was sealed. This action was taken by Access Bank without any prior notice to SEPLAT, as required under Nigerian law. SEPLAT will vigorously defend against this improper action to the full extent of the law and will seek all appropriate legal remedies”, SEPLAT said.