An oil & gas investing company with an aggressive growth strategy
ADM Energy is a natural resources investing company with an existing asset base in Nigeria in the Aje Field, part of OML 113. 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 targeting investment opportunities across West Africa in the oil and gas sector with attractive risk reward profiles such as proven nature of reserves, level of historic investment, established infrastructure, route to early cash flow.
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OML 113 covers an area of 835km2 offshore Nigeria and holds the Aje Field. ADM holds a 5% profit interest in Aje and in February 2020 signed an agreement with EER (Colobos) Nigeria to acquire a further 4.2% interest.
Aje is an oil producing asset rich in gas and condensate reserves and currently has two producing wells, Aje-4 and Aje-5. It is located 24km offshore Lagos where it benefits from increasing local energy demand, particularly for gas which is viewed as a replacement fuel for diesel and commands a premium. The field is within close proximity to the West African Gas Pipeline which presents an opportunity for gas monetisation in neighbouring countries such as Benin and Togo.