Court appoints administrator for Eroton Exploration and Production
The Federal High Court has appointed Mr. Amala Umeike as Administrator of Eroton Exploration and Production Ltd following an order made on January 29, 2026, in Suit No: FHC/L/CS/2499/2025 (Lagos
The Federal High Court has appointed Mr. Amala Umeike as Administrator of Eroton Exploration and Production Ltd following an order made on January 29, 2026, in Suit No: FHC/L/CS/2499/2025 (Lagos State Internal Revenue Service v. Eroton Exploration and Production Ltd).
The appointment was made pursuant to Section 450 of the Companies and Allied Matters Act, 2020 (CAMA 2020).
A public notice issued by Eroton Exploration and Production Ltd (In Administration), with registered address at CBC Towers (5th Floor), Plot 11 Olubunmi Owa Street, Lekki Phase 1, Eti-Osa, Lagos State, stated that Mr. Umeike has been mandated to turn around and restructure the affairs of the company for and on behalf of all its creditors.
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The Administrator assumed office with immediate effect in line with the court order and the provisions of CAMA 2020.
Mr. Umeike, who is also acting as the Chief Restructuring Officer (CRO), has taken over oversight and control of the company’s affairs.
His responsibilities include stabilising operations, preserving asset value, and executing a structured turnaround of the business in the best interests of creditors and other stakeholders. In accordance with CAMA 2020, the CRO will manage the business, affairs, and assets of the company during the administration period, exercising the powers conferred by the court order and the Act.
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The company clarified in a public statement that the appointment does not amount to a winding-up or cessation of business.
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Rather, it marks the commencement of a court-supervised turnaround and governance clean-up process aimed at preserving enterprise value, restoring operational continuity, and positioning Eroton Exploration and Production Ltd for a credible restructuring or value-maximising transaction within Nigeria’s upstream oil and gas sector.
According to the notice, the company remains open for business without any material structural changes and will continue to engage customers, suppliers, and partners in the ordinary course of business, subject to the CRO’s supervision and applicable restructuring controls.
Meanwhile, all creditors, suppliers, and persons with claims against the company have been directed to submit their verified claims, supporting documentation, and contact details to the Office of the CRO within seven days of the publication of the notice.
The submission is to be made through the CRO’s appointed legal representative, Messrs. Stren & Blan Partners. It was noted that claims received after the stipulated period may not be reflected in the CRO’s initial assessment, proposals, and creditor decision process.
Claims may be submitted electronically or in hard copy.
