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ADM Energy to double production and reserves following OML 113 acquisition

ADM Energy Plc's (LON:ADME) chief executive Osamede Okhomina speaks to Proactive London's Andrew Scott after agreeing a deal to increase its stake in the OML 113 asset - which includes the Aje field offshore Nigeria.

ADM is paying US$3mln of which US$2mln will be shares, priced at 7p each – and, the first US$250,000 of cash will be paid as deposit.

Quick facts: ADM Energy Plc

Price: 1.9 GBX

AIM:ADME
Market: AIM
Market Cap: £1.17 m
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ADM Energy agrees deal with commodities trader Trafigura

ADM Energy Plc's (LON:ADME) Osamede Okhomina discusses with Proactive London's Andrew Scott their recently signed agreement with commodities trader Trafigura to find potential deals in the African energy sector. ADM will be in charge of “originating, analysing, developing, structuring and...

on 3/2/20

2 min read