ADM Energy PLC - Appointment of Chief Financial Officer

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014.  UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

2 November 2020

ADM Energy PLC 

("ADM" or the "Company") 

Appointment of Chief Financial Officer

ADM Energy PLC (AIM: ADME; BER and FSE: P4JC), a natural resources investing company, is pleased to announce the appointment of Lionel Therond, CFA, as Chief Financial Officer in a non-Board role with immediate effect.

With 35 years' experience in the Oil & Gas sector and Investment Banking, Lionel, a Chartered Financial Analyst with an MBA from INSEAD, spent just under a decade at the beginning of  his career as an Exploration and Production Geoscientist at European supermajor, Royal Dutch Shell ("Shell"). At Shell, he held international positions, including a stint at Shell's global headquarters in The Hague.

After Shell, Lionel spent over a decade at J.P. Morgan Asset Management as a Senior Investor with a strategic investment focus on Oil & Gas investments, amongst other sectors. He also spent five years as Managing Director at Standard Bank Group, Africa's largest Bank, heading up Oil & Gas Equity and Commodity Research, where he helped to develop an Oil & Gas ECM capability which raised in excess of US$1bn. Lionel has founded a London-based Corporate Finance and Capital Markets Advisory boutique rooted in the Oil & Gas sector, advising multiple companies on fundraises, M&A and Capital Markets transactions, particularly in the West Africa region, ADM's principal area of business. Furthermore, in his capacity as Director at Fox Davies Capital, Lionel was a key advisor to ADM.

Lionel joins ADM on a part-time basis and will primarily assist the Company with its investment and acquisition strategy.

Osamede Okhomina, CEO of ADM Energy plc, said: "We are delighted to welcome Lionel to ADM as Chief Financial Officer. Lionel has extensive experience in the oil and gas sector and a deep understanding of what is required when financing and structuring deals, which makes him the perfect fit for the Company. We look forward to working with Lionel as we execute our growth strategy and build our investment portfolio."

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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 835km² 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 and route to early cash flow.