Member Info for Wmsjames

This is a great company, great management team, fantastic acquisitions made in the past.

I have added considerably to my overweight position and will hold now..

i expect the SP to double within the next 24 months

With positive news flow in 2023, this will be brought by the end of 2024.

The presentation was very positive and the RNS next week should be very good.

The ducks are lining up here

I listened to recording, i thought it was very good, he answered all the questions well and clearly knew his stuff.

I have been adding here for a few weeks and will continue to add. For an LSE board this is a good one.

What does everyone think the SP will be by the end of 2023, based on the presentation and newsflow . just a bit of fun.

i believe if all the news in 2023 is positive, this company will be brought within 24 months.

Completely agree Opulentia.

News on money in and a special dividends will make this share fly.

This looks like a great little business , but does anyone know why the drinking results are overdue

We look forward to providing shareholders with a mineral resource update from Isulu/ Bushiangala before the year end

The last few posts on this board have been very well written and informative . Thank you . I have been building a position in THS , it got highly recommended by a big holder .

As a medium term investment this one is a hidden gem .

My only concern is the amount of liquidity and what the company is planning on doing in 2023 to make the world more aware of this sold business

Eccles04 - good post - my only concern with house buying is the ratio between average wage and average house prices .

When I brought my first flat my mortgage rate was 5.5% , I just cut back to afford the mortgage

One of the best posts I have read in a long time . Thank you strictly bricks .

I am looking to start buying Persimmon this week and build a substantial holding over the next few weeks / months . Medium to long term I see this as a safe bet but short term , I’m not convinced the bottom is completely priced in .

Thanks

Hi all

I brought in yesterday, some of the rise was due to me, its not me buying today though.

Good medium term investment here

GLA

New record low - until tomorrow

Argobull - my money is on another miner buying them . Maybe Hut 8 . I’m nervously waiting for todays RNS .

Fingers crossed today is more positive

Argobull - it’s been a long time . You have fought and fought Argo’s corner for a very long time .

Tough times at the mo

I topped up yesterday and happy with my holdings , the next few months might be choppy but Aviva are in a strong cash flow position . Further acquisitions must be on the cards now

A great set of results in tough conditions

Very impressive results - I believe this share is undervalued

Very convenient timing for OSA

GM Statement to ADM Energy Plc shareholders

Dear shareholder

It is with regret that we have, as a major shareholder and also provider of debt capital to ADM Energy, been forced to call a GM to bring about a management overhaul. Quite simply it is our assertions that Osamede Okhomina is unfit for the role of CEO and the board is packed with his acolytes with no independent oversight.

Oliver Andrews has deep connections with EER and the evidence we have seen is that the balance of the BoD have been complicit in keeping the Barracuda field CPR under wraps for several months now aswell as a variety of behind the scenes legal actions by Karra Oil that shareholders should have been made aware of. Indeed, we suspect that the placing carried out in November of 2021 has grounds for annulment by the placees such is the degree of concealment of material information that should have been made public.

Aside from the decimation of equity value that the BoD have presided over during this last 12 months, the broken promises to us that Osamede in particular has made, including his confirmation of voluntarily stepping down at Dec end 2021 if he had not concluded a transformative deal, the level of board director remuneration is frankly incredible in the cases of Richard Carter and Osamede Okhomina – approaching seven figures sterling on a gross basis has been taken (or accrued) by these two alone in the last 2 years whilst shareholders have been almost wiped out by 90%. This is unjustifiable on any measure and it seems the BoD have been unprepared to rein in this degree of largesse. In fact, Mr Okhomina personally promised us salary cuts in 2020/21 that appear not to have happened. This strikes at the very heart of trust and integrity – qualities that are absolutely necessary to run a Plc.

How much more evidence and value decimation is required before action is taken? Well, I am prepared to be that action. Should I be elected to the BoD as a Director (for just a £1 nominal salary) I will carry out the following:

1 – Full forensic investigation into the company’s expenditure this last 24 months including any related party deals

2 – Look to divest our stake in the Aje field that has been simply a cash consumptive hole for years

3 – Bring in a skilled and seasoned and well respected O&G executive within 3 months

4 – Look to conclude either one of the mooted deals (if they make sense) that the BoD has been tantalizing for months or a new fresh direction in the O&G producing arena

5 – More importantly, with our finance partners, back stop a capital injection of a minimum of £1m into the company to stabilize finances and this financing would not be done on a deeply discounted basis.

For all the above reasons, we urge all shareholders to vote IN FAVOUR of the resolutions we have proposed and allow us to take back control of OUR company from management that are dichotomously aligned with shareholders as evidenced by the stock market’s reac

Dear shareholder

We have requisitioned a GM to remove Osamede Okhomina, Oliver Andrews and Richard Carter for multitude reasons. As the 2nd largest shareholder and a debt provider to the company we have not taken this step lightly. Through long experience in the AIM small cap arena we believe ADM Energy is destined to go the way of the other companies where we have been forced to take action. These companies were Widecells, Mayan Energy, Anglo African Oil & Gas, Iconic Labs & 8Peaks – a quick glance at ALL of these tells the woeful story of what happened next – wipeout and/or de-listing for shareholders.

During the last 18 months we estimate that ADM Energy has spent circa £3m of shareholders money whilst the BoD has presided over a near 90% share price fall in the last 12 months – this during a period when the oil price has been resurgent. We believe ADM to be amongst the worst performing small/microcap oil stocks in the UK and on a global basis. By any stretch the execution of their corporate mandate to create value for shareholders has been a bust.

It gets worse however – during the last 2 years, Mr Okhomina and Mr Carter have taken we believe approaching £800,000 out of the company. Yes, that is right, almost 50% of the present derisory market cap – see here on page (31) – https://admenergyplc.com/wp-content/uploads/2021/10/ADM-Enegry-Annual-Report-2020.pdf. We would add that this estimate does not account for peripheral “expenses” costing too that we suspect runs to six figures. It gets worse – not only has this entirely inappropriate scale of corporate costs been approved by the Remuneration Committee but Mr Okhomina personally promised us over 12 months ago he was to cut his salary dramatically. It is our understanding that this did not happen when promised.

Aside from this mismatch with shareholders, the delivery of the fabled “3 deals a year” by the BoD has failed to be produced. Further, many will recall the infamous interview with Mr Okhomina in autumn 2020 when he led shareholders to believe the stock would be “15 pence by year end” – that looks laughable in extremis now aswell as entirely misplaced from a corporate governance perspective to make such a statement.

We also believe that Oliver Andrews is not “independent” as a Chairman and as is the standard practice for a Plc. It is our understanding that there are deep connections between him and Mr Okhomina and Hessia/EER. To have him sat on the BoD is wholly inappropriate and he is, we believe, failing to hold Mr Okhomina’s abject failure as a CEO in delivering his promises and creating value to account.

As for the AJE field we are now firmly of the opinion that this is just a value trap and that the net cost, as evidenced by the absence of any cash flow payment to ADM for multitude years is a black hole and red herring for shareholders to pump more money in. The first thing I would do if elected to the BoD at the GM is push for the sale of ADM’s interest of 4.9% i

Sorry what court injunction

I support one - OSA needs to go , oppose the rest .

I doubt OSA will go , as he probably controls the majority shareholders .