Last checked at 14 Jul 2020 07:00
14 July 2020
ADM Energy PLC
("ADM" or the "Company")
ADM Energy Strengthens Technical Team
ADM Energy PLC (AIM: ADME; BER and FSE: P4JC), a natural resources investing company, is pleased to announce the appointment of two Oil and Gas veterans, Darrell McKenna and Dr Satinder Purewal, as non-board advisory members to the Company's technical team.
Darrell McKenna has joined the Company as Drilling and Surface Engineering Lead. He brings 38 years of operational and leadership experience in the Oil and Gas industry with E&P and field services companies such as ExxonMobil, where he managed production growth offshore Nigeria, as well as Schlumberger and Hess Corporation. Mr McKenna is a former COO of Kosmos Energy, growing production in West African assets, and former Chairman and CEO of Oracle Energy Corporation focused on Sub-Saharan Africa. He has extensive knowledge of production operations, drilling and completions, and strategic planning.
The Company has also appointed Dr Satinder Purewal as Petroleum and Reservoir Engineering Lead. Dr Satinder has nearly four decades of global Oil and Gas experience, advising on technical, commercial and reserves-related issues, including de-risking potential acquisition opportunities in Nigeria and globally. He was head of reserves assurance for Europe and global reserves training in Shell. He was also chair of the Society of Petroleum Engineers committee that published the PRMS Application Guidelines. He chairs the Petroleum Working Group of the United Nations Economic Commission for Europe and is Honorary Professor of Petroleum Engineering at Imperial College.
These two highly qualified members join Wilhelmus "Wim" Burgers, a former ExxonMobil and ConocoPhillips Geologist and Geophysical Lead with over 35 years of global operational experience. Wim is the Geologist and Geophysical Lead on the ADM technical team.
Osamede Okhomina, CEO of ADM said: "I am delighted to welcome Darrell and Dr Satinder as technical advisers. Once more, we are adding seasoned professionals with major IOC backgrounds and experience working on some of the most prominent field development projects. This is particularly important as the Aje partners focus on developing the gas reserves and tripling production at the asset. It also strengthens our position to accurately assess marginal fields in Nigeria and confidently progress investment opportunities across West Africa."
Enquiries:
ADM Energy plc | +44 20 7786 3555 |
Osamede Okhomina, CEO |
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www.admenergyplc.com |
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Cairn Financial Advisers LLP | +44 20 7213 0880 |
(Nominated Adviser) |
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Jo Turner, James Caithie |
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Hybridan LLP | +44 20 3764 2341 |
(Lead Broker) |
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Claire Louise Noyce |
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Pello Capital Limited | +44 20 3700 2500 |
(Joint Broker) |
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Dan Gee |
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Luther Pendragon | +44 20 7618 9100 |
(Financial PR) Harry Chathli, Alexis Gore, Joe Quinlan |
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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 5% profit interest in the Aje Field, part of OML 113, which covers an area of 858km² 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.
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.