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ADM Energy, Dubai Bridge to jointly scope African oil, gas opportunities
StockMarketWire.com
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Resources company investor ADM Energy said it had formed a cooperation agreement with Dubai Bridge Investments to source and develop upstream oil and gas field investment opportunities jointly in Sub-Saharan Africa.
ADM would be responsible for identifying opportunities and Dubai Bridge, a privately-owned Dubai-based investment vehicle, would be responsible for providing or sourcing funding.
ADM said it ahd identified several potential targets and would be progressing through the evaluation and due diligence process with Dubai Bridge.
'Once a project is agreed, the parties will negotiate a definitive agreement for each project that is approved,' it added.
At 1:52pm: (LON:ADME) share price was +0.3p at 6.4p
Story provided by StockMarketWire.com
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