22^nd March 2023

Fenikso Limited

("Fenikso" or "the Company") 

Receipt of funds for repayment of US$51.9m loan

Fenikso Limited (AQSE: FNK), the Cayman Islands enterprise company formerly known as Lekoil Limited, announces the receipt of funds under the Lekoil & Gas Investments ("LOGI") Loan entered in to on 31 December 2022 as part of the Fenikso restructuring. Fenikso Limited received US$692,078 as partial repayment of the loan of US$51,919,467 the remaining balance is US$50,562,335. The amount received equates to 8.65% of the most recent payment from crude oil sales received by LOGI. The next payment is scheduled for the end of April. The proceeds will go towards reducing the creditor balance at the Company which is currently in excess of US$1,750,000.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ('MAR'). Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.

For further information, please visit www.feniksoltd.com or contact: