Business
Barracuda Oil Field Option
Barracuda Oil Field Option.
About this update from Adm Energy Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 0935B\n ADM Energy PLC\n 08 June 2021\n \n \n \n \n \n \n \n 8 June 2021\n \n \n \n \n \n ADM Energy PLC \n \n \n (\"ADM\" or the \"Company\") \n \n \n \n \n \n Barracuda Oil Field Option\n \n \n \n \n \n Further to the announcement of 23 March 2021, ADM Energy PLC (AIM: ADME; BER and FSE: P4JC), a natural resources investing company, provides the following clarification on the option rights for a participating interest in the Barracuda oil field in OML 141, offshore Nigeria (\"the Field\").\n \n \n \n \n \n The investment in the Field was made by way of an acquisition of a 51 per cent. interest in K.O.N.H. UK Limited (\"KONH\"), which holds a 70 per cent. interest in a Risk Sharing Agreement (\"RSA\"). In the announcement, the Company advised that the RSA grants investors in the RSA an option to acquire a participating interest in the OML 141 licence, however, there are no option rights attached to the RSA and, accordingly, to the benefit of ADM.\n \n \n \n \n \n Enquiries:\n \n \n \n \n \n \n \n \n \n ADM Energy plc \n \n \n \n \n +44 20 7459 4718\n \n \n \n \n \n \n Osamede Okhomina, CEO\n \n \n \n \n \n \n \n \n \n \n www.admenergyplc.com\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Cairn Financial Advisers LLP\n \n \n \n \n +44 20 7213 0880\n \n \n \n \n \n \n (Nominated Adviser) \n \n \n \n \n \n \n \n \n \n Jo Turner, James Caithie\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Arden Partners plc\n \n \n \n \n +44 20 7614 5900\n \n \n \n \n \n \n (Lead Broker)\n \n \n \n \n \n \n \n \n \n Paul Shackleton, Daniel Gee-Summons\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Hybridan LLP\n \n \n \n \n +44 20 3764 2341\n \n \n \n \n \n \n (Joint Broker)\n \n \n \n \n \n \n \n \n \n Claire Louise Noyce \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n ODDO BHF Corporates & Markets AG\n \n \n \n \n +49 69 920540\n \n \n \n \n \n \n (Designated Sponsor)\n \n \n \n \n \n \n \n \n \n Michael B. Thiriot\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Luther Pendragon\n \n \n \n \n +44 20 7618 9100\n \n \n \n \n \n \n (Financial PR)\n \n \n \n \n \n \n \n \n \n Harry Chathli, Alexis Gore, ...