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    ADME   GB00BJFDXW97

ADM ENERGY PLC

(ADME)
  Report
End-of-day quote. End-of-day quote London Stock Exchange - 06/18
4 GBX   +3.23%
02:21aPRESS RELEASEá : ADM Energy PLC: Loan Facilities Update
DJ
02:21aADM ENERGY PLC : Loan Facilities Update
EQ
06/08ADM ENERGY PLC : Barracuda Oil Field Option
EQ
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SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

PRESS RELEASE: ADM Energy PLC: Barracuda Oil Field Option

06/08/2021 | 02:31am EDT
DGAP-News: ADM Energy PLC / Key word(s): Miscellaneous 
ADM Energy PLC: Barracuda Oil Field Option 
2021-06-08 / 08:30 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 
8 June 2021 
ADM Energy PLC 
("ADM" or the "Company") 
Barracuda Oil Field Option 
Further to the announcement of 23 March 2021, ADM Energy PLC (AIM: ADME; BER and FSE: P4JC), a natural resources 
investing company, provides the following clarification on the option rights for a participating interest in the 
Barracuda oil field in OML 141, offshore Nigeria ("the Field"). 
The investment in the Field was made by way of an acquisition of a 51 per cent. interest in K.O.N.H. UK Limited 
("KONH"), which holds a 70 per cent. interest in a Risk Sharing Agreement ("RSA"). In the announcement, the Company 
advised that the RSA grants investors in the RSA an option to acquire a participating interest in the OML 141 licence, 
however, there are no option rights attached to the RSA and, accordingly, to the benefit of ADM. 
Enquiries: 
ADM Energy plc                           +44 20 7459 4718 
Osamede Okhomina, CEO 
www.admenergyplc.com 
 
Cairn Financial Advisers LLP             +44 20 7213 0880 
(Nominated Adviser) 
Jo Turner, James Caithie 
 
Arden Partners plc                       +44 20 7614 5900 
(Lead Broker) 
Paul Shackleton, Daniel Gee-Summons 
 
Hybridan LLP                             +44 20 3764 2341 
(Joint Broker) 
Claire Louise Noyce 
 
ODDO BHF Corporates & Markets AG         +49 69 920540 
(Designated Sponsor) 
Michael B. Thiriot 
 
Luther Pendragon                         +44 20 7618 9100 
(Financial PR) 
Harry Chathli, Alexis Gore, Joe Quinlan About ADM Energy PLC ADM Energy PLC (AIM: ADME; BER and FSE: P4JC) is a natural resources investing company with an existing asset base in Nigeria. ADM Energy holds a 9.2% profit interest in the oil producing Aje Field, part of OML 113, which covers an area of 835km² offshore Nigeria. Aje has multiple oil, gas, and gas condensate reservoirs in the Turonian, Cenomanian and Albian sandstones with five wells drilled to date. The Company also holds an investment in the development of the Barracuda Field, an existing discovery and near-term production asset in the NW part of OML 141, which covers 103 km^2 in the swamp/shallow waters of the Niger Delta. Four existing wells have been drilled to date and a fifth is intended to be drilled in Q4 2021. ADM Energy is seeking to build on its existing asset base in Nigeria and target other investment opportunities across the West African region in the oil and gas sector with attractive risk reward profiles such as proven nature of reserves, level of historic investment, established infrastructure and route to early cash flow. 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com. -----------------------------------------------------------------------------------------------------------------------

2021-06-08 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de -----------------------------------------------------------------------------------------------------------------------

Language:     English 
Company:      ADM Energy PLC 
              60 Gracechurch street 
              EC3V 0HR London 
              United Kingdom 
Phone:        +44 (0)2077863555 
E-mail:       hello@admenergyplc.com 
Internet:     www.admenergyplc.com 
ISIN:         GB00BJFDXW97 
WKN:          A2PLC1 
Listed:       Foreign Exchange(s) London 
EQS News ID:  1205238 
 
End of News   DGAP News Service 
=------------ 

1205238 2021-06-08

 
Image link: 
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1205238&application_name=news 
 

(END) Dow Jones Newswires

June 08, 2021 02:30 ET (06:30 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
ADM ENERGY PLC 3.23% 4 End-of-day quote.-25.23%
ARDEN PARTNERS PLC 7.07% 14.99 Delayed Quote.21.74%
DJ INDUSTRIAL 1.76% 33876.97 Delayed Quote.8.77%
LONDON BRENT OIL -0.57% 74.38 Delayed Quote.42.48%
LONDON STOCK EXCHANGE PLC 0.47% 8162 Delayed Quote.-9.81%
PENDRAGON PLC 3.06% 18.7565 Delayed Quote.38.93%
WTI -0.59% 72.59 Delayed Quote.49.08%
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Financials
Sales 2020 1,10 M 1,53 M 1,53 M
Net income 2020 - - -
Net Debt 2020 0,60 M 0,83 M 0,83 M
P/E ratio 2020 -
Yield 2020 -
Capitalization 6,15 M 8,55 M 8,52 M
EV / Sales 2020 6,13x
EV / Sales 2021 5,02x
Nbr of Employees 5
Free-Float 59,4%
Chart ADM ENERGY PLC
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 1
Average target price 14,00 GBX
Last Close Price 3,90 GBX
Spread / Highest target 259%
Spread / Average Target 259%
Spread / Lowest Target 259%
EPS Revisions
Managers and Directors
NameTitle
Osamede Okhomina Chief Executive Officer & Director
Ahmed Bin Dalmook Al Maktoum President
Lionel Therond Chief Financial Officer
Peter Francis Non-Executive Chairman
Richard James Carter Chief Operating Officer
Sector and Competitors
1st jan.Capitalization (M$)
ADM ENERGY PLC-25.23%9
CONOCOPHILLIPS51.16%81 572
CNOOC LIMITED20.61%49 855
EOG RESOURCES, INC.70.42%49 601
CANADIAN NATURAL RESOURCES LIMITED46.75%42 985
PIONEER NATURAL RESOURCES COMPANY41.44%39 298