Peter Francis, Non-Executive Chairman of ADM Energy (ADME.L) Interview

Zak Mir interviews Peter Francis, Non-Executive Chairman of ADM Energy on behalf of Align Research Limited

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 5% profit interest in the Aje Field, part of OML 113, which covers an area of 835km² offshore Nigeria, and in February 2020 entered into an agreement with EER (Colobos) Nigeria Limited to acquire a further 4.2% profit interest. Aje has multiple oil, gas, and gas condensate reservoirs in the Turonian, Cenomanian and Albian sandstones with five wells drilled to date.

Questions covered:

1 – We note the 14th lifting at the Aje field RNS on Monday – when can investors expect the next one?

2 – Can you elaborate on the partner’s plans for Aje in 2021.

3 – The closure of the EER deal with stock vesting at the 7p level has been trailed within that same RNS Monday – is it safe to assume investors can expect news on this shortly?

4 – At the recent investor Q&A session a number of potential deals were hinted at that were intimated to be a major step forward for the Company – when can investors anticipate an update here?

5 – Can you confirm the company has adequate funding at present to carry out its plans without recourse to equity investors?

6 – On an Enterprise Value to 2P basis the shares trade at a massive discount to peers – why is this and when can they expect a meaningful re-rate?

7 – Finally, do you have any other message to ADM shareholders at this point?

To read our recent coverage on ADM Energy CLICK HERE

ADM Energy is a research client of Align Research. Both Align Research & a Director of Align Research hold an interest in the shares of ADM Energy.and are bound to Align Research’s company dealing policy ensuring open and adequate disclosure. Full details can be found on our website here (“Legals”).

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