ADM Energy pays deposit for additional interest in OML 113 asset in Nigeria


‘s () chief executive Osamede Okhomina speaks to Proactive’s Andrew Scott after they’ve agreed to pay a US$250,000 deposit, in cash and shares, for its previously announced acquisition of an additional 2.25% interest in the OML 113 asset in Nigeria.

He says they’ve now completed the second stage of this agreement with EER which is an important step closer to concluding the transaction and increasing their position in what he describes as a high-quality asset.

Okhomina says that despite the wider, global macroeconomic issues, he still believe the longer-term outlook for the industry remains very positive.

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