Global coverage21 Apr 2019 19:56
https://www.agenceecofin.com/compagnies/1804-65517-le-petrolier-britannique-mx-oil-change-de-nom-et-devient-adm-energy
Not sure if it’s lost in translation or the additional bits are very interesting.
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Agence Ecofin) - The board of directors of the British oil company MX Oil has validated the change of name of the company in ADM Energy. The company is also considering a reorganization of share capital following its recent fundraising of £ 680,000.
The change of name of ADM Energy mainly follows the recent strategic investment of the Dubai businessman Shaikh Ahmed Bin Dalmook Al Maktoum.
The company's strategic investor has an extensive network of influential contacts within the oil and gas industry and the board views its support to the company as an important opportunity.
It must be said that the businessman bought shares for £ 534,000 offering him 29.86% of the company's expanded share capital
Several other efforts are underway to prepare the company for new innovative investments. A general meeting is being prepared in this direction.
"With the support of an influential new shareholder, the company has been repositioned to take advantage of opportunities that were previously out of our reach. We look forward to informing the market of our progress, "said Stefan Oliver, CEO.
ADM Energy is the operator of the field Aje Field located in offshore block OML 113. In 2017, the company officials decided that in addition to the oil that is in production on site, they will focus their efforts in the production of gas natural that abounds in abundance the perimeter.