Initiation of Coverage

RNS Number : 9735D

ADM Energy PLC

25 February 2020

 

  25 February 2020

ADM Energy PLC 

("ADM" or the "Company") 

Initiation of Coverage

ADM Energy PLC (AIM: ADME), an oil and gas investing company quoted on AIM, is pleased to announce that Fox-Davies Capital Limited ("Fox-Davies Capital") has issued an Initiation Report on the Company (the "Note"). Fox-Davies Capital is joint broker to ADM and as such the Note should not be considered independent research.

The Note is available on ADM's website at the following link:

http://admenergyplc.com/pdfs/initiating_coverage_admenergy.pdf

Enquiries:

ADM Energy plc	[phone]
Osamede Okhomina, CEO
Fox-Davies Capital Ltd	[phone]
(Lead Broker)
Daniel Fox-Davies, Lionel Therond
Pello Capital Limited	[phone]
(Joint Broker)
Dan Gee
Luther Pendragon	[phone]
(Financial PR) Harry Chathli, Alexis Gore, Joe Quinlan

About ADM Energy PLC

ADM Energy (AIM: ADME) is a natural resources investment company with an existing asset base in Nigeria. ADM Energy holds a 5% profit interest in the Aje Field, part of OML 113, which covers an area of 858km² offshore Nigeria. Aje has multiple oil, gas and gas condensate reservoirs in the Turonian, Cenomanian and Albian sandstones with five wells drilled to date.

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, route to early cash flow and exploration upside.

 

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