Lotos Geonafta (formerly Geonafta) has asked the Lithuanian Competition Council to approve its intention to acquire up to 100 percent shares in Manifoldas, the anti-trust body said.
Lotos Geonafta currently holds a 50-percent stake in Manifoldas.
Manifoldas' annual net profit last year almost trebled to 33.322 million litas (EUR 9.66m), from 12.334 million litas in 2010, as revenues doubled to 60.869 million litas.
The company last year extracted 233,400 barrels of crude from 12 wells.
In Lithuania, Poland's Lotos owns 100 percent of Lotos Geonafta, 50 percent of Minijos Nafta, 100 percent of Genciu Nafta and 50 percent of Manifoldas through Lotos Petro-Baltic.