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GEORGE TOWN, CAYMAN ISLANDS - Fenikso Limited (AQSE:FNK) announced Wednesday it has received $536,676 as partial repayment of a $51.9 million loan from Lekoil & Gas Investments (LOGI).
The payment represents 8.65% of the most recent crude oil sales received by LOGI, according to a company press release. Following this transaction, the outstanding balance on the LOGI loan stands at $36.26 million.
Fenikso has allocated the funds toward reducing its debt to Savanah Energy Investments Limited (SEIL), making a payment of $750,000. This leaves $1.96 million remaining on the SEIL loan, which is due by December 31, 2025, in accordance with renegotiated terms announced on April 25, 2025.
The LOGI loan was originally established on December 31, 2022, as part of Fenikso’s corporate restructuring. The next payment from LOGI is scheduled for September 2025.
Fenikso Limited is a Cayman Islands-based enterprise company traded on the Aquis Stock Exchange.
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