{"id":11675,"date":"2022-01-24T07:14:34","date_gmt":"2022-01-24T07:14:34","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=11675"},"modified":"2022-01-24T07:14:34","modified_gmt":"2022-01-24T07:14:34","slug":"nigeria-adm-energy-raises-general-working-capital-for-aje-field","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/nigeria-adm-energy-raises-general-working-capital-for-aje-field\/","title":{"rendered":"NIGERIA: ADM Energy Raises General Working Capital for Aje Field"},"content":{"rendered":"<p class=\"bv\"><span class=\"bm\">ADM Energy has announced that it has raised a total of \u00a3561,000 through a subscription from Optima Resources Holding Limited , a family office owned natural resources investment company registered and based in the United Arab Emirates.<\/span><\/p>\n<p class=\"cb\"><span class=\"br\">The Company has raised, conditional on Admission \u00a3561,000 before<\/span><span class=\"br\">\u00a0costs,\u00a0<\/span><span class=\"br\">at a subscription price of 1.11 pence per share through the issue of 51,000,000 new ordinary shares to Optima Resources, which will hold 19.96 percent. of the Company&#8217;s enlarged issued share capital on Admission. \u00a0<\/span><\/p>\n<p class=\"cb\"><span class=\"br\">The funds will be used for general working capital including business development and due diligence on target assets, appraisals and technical evaluation. The Company continues to evaluate investment opportunities, which the board considers may have the potential to add and bring in significant value to ADM.<\/span><\/p>\n<p class=\"bv\"><span class=\"cg\">Osamede Okhomina, CEO of ADM Energy plc, said:\u00a0<\/span><span class=\"ch\">&#8220;We are pleased to secure funding from a new long-term shareholder, which will be used to continue to assess several prospects.\u00a0<\/span><span class=\"bm\">I would like to thank our shareholders and our new shareholder for their ongoing support and look forward to updating them as we progress.&#8221;<\/span><\/p>\n<p>ADM Energy holds a 9.2% profit interest in the oil-producing Aje Field, part of OML 113, which covers an area of 835km\u00b2 offshore Nigeria. Aje has multiple oil, gas, and gas condensate reservoirs in the Turonian, Cenomanian and Albian sandstones with five wells drilled to date.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ADM Energy has announced that it has raised a total of \u00a3561,000 through a subscription from Optima Resources Holding Limited , a family office owned natural resources investment company registered &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/nigeria-adm-energy-raises-general-working-capital-for-aje-field\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":11180,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,11,7444],"tags":[8740,1749,8318,10086],"class_list":["post-11675","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-top-news","category-west-africa","tag-aje-field","tag-nigeria","tag-oml-113","tag-optima-resources-holding","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/11\/Nigeria-Aje-field.jpg?fit=807%2C807&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-32j","jetpack-related-posts":[{"id":11179,"url":"https:\/\/www.oilnewskenya.com\/index.php\/nigeria-adm-energy-raises-funds-to-finance-expansion-plans\/","url_meta":{"origin":11675,"position":0},"title":"NIGERIA: ADM Energy Raises Funds to Finance Expansion Plans","author":"","date":"November 19, 2021","format":false,"excerpt":"ADM Energy has announced that it has raised a total of \u00a3475,000 before costs by way of a placing for new ordinary shares in the Company with and a subscription by certain Directors. According to ADM the funds will be used to provide general working capital for the Company in\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/11\/Nigeria-Aje-field.jpg?fit=807%2C807&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/11\/Nigeria-Aje-field.jpg?fit=807%2C807&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/11\/Nigeria-Aje-field.jpg?fit=807%2C807&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/11\/Nigeria-Aje-field.jpg?fit=807%2C807&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":9534,"url":"https:\/\/www.oilnewskenya.com\/index.php\/nigeria-adm-completes-eer-transaction-following-receipt-of-ministerial-consent\/","url_meta":{"origin":11675,"position":1},"title":"NIGERIA: ADM completes EER Transaction following receipt of Ministerial Consent","author":"","date":"December 11, 2020","format":false,"excerpt":"ADM Energy PLC has announced that it has received ministerial consent from the Nigerian Minister of Petroleum Resources (DPR) to complete the transfer of a participating interest of 2.25% in OML 113 from EER (Colobos) Nigeria Limited (EER) to the Company. \u00a0 \u00a0Highlights \u00b7\u00a0\u00a0\u00a0\u00a0ADM acquires 25% of the interests, rights\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/12\/oml-113-panoro-664x525-1.jpg?fit=664%2C525&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/12\/oml-113-panoro-664x525-1.jpg?fit=664%2C525&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/12\/oml-113-panoro-664x525-1.jpg?fit=664%2C525&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":12440,"url":"https:\/\/www.oilnewskenya.com\/index.php\/nigeria-petronor-completes-purchase-of-aje-interests-from-panoro-energy\/","url_meta":{"origin":11675,"position":2},"title":"NIGERIA: PetroNor Completes Purchase of Aje interests from Panoro Energy","author":"","date":"July 13, 2022","format":false,"excerpt":"PetroNor confirms that it has completed on the purchase of the Panoro fully owned subsidiaries Pan-Petroleum Nigeria Holding BV and Pan- Petroleum Services Holdings BV that together hold 100% of the shares in Pan-Petroleum Aje Ltd . Pan Aje participates in the exploration for and production of hydrocarbons in Nigeria\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/11\/Nigeria-Aje-field.jpg?fit=807%2C807&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/11\/Nigeria-Aje-field.jpg?fit=807%2C807&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/11\/Nigeria-Aje-field.jpg?fit=807%2C807&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/11\/Nigeria-Aje-field.jpg?fit=807%2C807&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":10082,"url":"https:\/\/www.oilnewskenya.com\/index.php\/nigeria-adm-energy-invests-in-the-development-of-the-barracuda-oil-field-in-oml-141\/","url_meta":{"origin":11675,"position":3},"title":"NIGERIA: ADM Energy Invests in the Development of the Barracuda oil field in OML 141","author":"","date":"March 23, 2021","format":false,"excerpt":"ADM Energy has announced that it has conditionally agreed to invest in the development of the Barracuda oil field in OML 141, an existing discovery and near-term production asset in swamp\/shallow waters offshore Nigeria.\u00a0 The investment will be made by way of an acquisition of a 51% interest in K.O.N.H.\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/03\/OML-141-2.jpg?fit=576%2C394&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/03\/OML-141-2.jpg?fit=576%2C394&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/03\/OML-141-2.jpg?fit=576%2C394&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":9628,"url":"https:\/\/www.oilnewskenya.com\/index.php\/nigeria-panoro-energy-announces-extension-of-long-stop-date-for-sale-of-aje\/","url_meta":{"origin":11675,"position":4},"title":"NIGERIA: Panoro Energy Announces Extension of Long Stop Date for Sale of Aje","author":"","date":"January 3, 2021","format":false,"excerpt":"Panoro Energy ASA has announced that PetroNor E&P Limited (PetroNor) and Panoro have reached an agreement to extend the completion long stop date for the previously announced sale of its fully-owned subsidiaries that hold 100% of the shares in Pan Petroleum Aje Limited. The original long stop date was December\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/12\/oml-113-panoro-664x525-1.jpg?fit=664%2C525&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/12\/oml-113-panoro-664x525-1.jpg?fit=664%2C525&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/12\/oml-113-panoro-664x525-1.jpg?fit=664%2C525&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":10272,"url":"https:\/\/www.oilnewskenya.com\/index.php\/adm-energy-completes-barracuda-field-transaction\/","url_meta":{"origin":11675,"position":5},"title":"ADM Energy Completes Barracuda Field Transaction","author":"","date":"April 28, 2021","format":false,"excerpt":"ADM Energy has announce it has completed its acquisition of a controlling interest in a Risk Sharing Agreement for the development of the large-scale Barracuda Field in OML 141, an existing discovery and near-term production asset in swamp\/shallow waters offshore Nigeria.\u00a0 Highlights \u00b7\u00a0ADM acquires a 51% interest in K.O.N.H. UK\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/03\/OML-141-2.jpg?fit=576%2C394&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/03\/OML-141-2.jpg?fit=576%2C394&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/03\/OML-141-2.jpg?fit=576%2C394&ssl=1&resize=525%2C300 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/11675","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=11675"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/11675\/revisions"}],"predecessor-version":[{"id":11676,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/11675\/revisions\/11676"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/11180"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=11675"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=11675"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=11675"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}