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ADM Energy PLC: Further re: Barracuda and Interim Injunction

EQS-News: ADM Energy PLC / Key word(s): Miscellaneous
ADM Energy PLC: Further re: Barracuda and Interim Injunction
16.11.2022 / 15:30 GMT/BST
The issuer is solely responsible for the content of this announcement.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014 (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

16 November 2022

 

ADM Energy PLC 

("ADM" or the "Company")

 

Further re: Barracuda and Interim Injunction

 

 

ADM Energy PLC (AIM: ADME; BER and FSE: P4JC), a natural-resources investing company, provides an update on the legal proceedings in respect of its interest in the Barracuda oil field.

 

As previously announced on 13 December 2021, the Company and K.O.N.H. (UK) Ltd ("KONH") obtained an interim injunction at the Federal High Court of Nigeria, Lagos ("Court") restraining Noble Hill-Network Limited ("NHNL"), its officers, agents, privies, or person howsoever connected from selling, disposing, divesting, or tampering with the 70% shareholding interest of KONH in NHNL to third-party investors or in any other manner whatsoever.

 

Further to the announcement on 1 July 2022, the Company has been advised that the Court has adjourned this matter until 1 February 2023.  The interim injunction continues to stand in the meantime and a further update will be made in due course.

 

 

Enquiries:

 

ADM Energy plc

+44 20 7459 4718

Oliver Andrews, Chairman

 

www.admenergyplc.com

 

 

 

Cairn Financial Advisers LLP

+44 20 7213 0880

(Nominated Adviser)

 

Jo Turner, James Caithie

 

 

 

Hybridan LLP

+44 20 3764 2341

(Broker)

 

Claire Louise Noyce

 

 

 

 
ODDO BHF Corporates & Markets AG


+49 69 920540

(Designated Sponsor)

 

Michael B. Thiriot

 

 

 

Gracechurch Group

+44 20 4582 3500

(Financial PR)

 

Harry Chathli, Alexis Gore, Henry Gamble

 

 

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 9.2% profit interest in the oil producing Aje Field, part of OML 113, which covers an area of 835km² offshore Nigeria. 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.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

 


16.11.2022 GMT/BST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

Language:

English

Company:

ADM Energy PLC

60 Gracechurch street

EC3V 0HR London

United Kingdom

Phone:

+44 (0)2077863555

E-mail:

hello@admenergyplc.com

Internet:

www.admenergyplc.com

ISIN:

GB00BJFDXW97

WKN:

A2PLC1

Listed:

London

EQS News ID:

1489699


 

End of News

EQS News Service

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