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ADM Energy carries out 15th lifting at Aje Field
StockMarketWire.com
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Natural resources investor ADM Energy has announced the completion of the 15th cargo lifting at the Aje Field, offshore Nigeria, the first lifting since the company finalised an agreement in December 2020 to consolidate its interest in the asset.
The lifting totalled 225,000 barrels, with a net share of 27,675 barrels to ADM, which equates to ADM's paying interest of approximately 12.3%. ADM Energy holds a 9.2% profit interest in the Aje Field.
Chief executive Osamede Okhomina said: 'We are delighted to carry out the 15th lifting, the first since we increased our holding in the Aje Field, which nearly doubled our share of revenue, reserves and net production.
'Given our increased stake, exciting development plans for Aje, and potential further improvement in the oil price forward curve, we are well positioned to further benefit from future liftings from this quality asset.'
At 1:41pm: (LON:ADME) share price was 0p at 4.8p
Story provided by StockMarketWire.com
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