– UK, London – ADM Energy PLC (LON: ADME | BER: P4JC | FSE: P4JC), a natural-resources investing company, today announced the appointment of Lord Henry Bellingham as Chairman of its Board of Directors with effect from 8 November 2023, succeeding Oliver Andrews who resigned from the board.
The company also announced the resignation of Richard Carter from the Board.
About Lord Henry Bellingham
Lord Bellingham has served as a non-executive director of the Company since July 2020 and has enjoyed a distinguished Parliamentary career of almost 40 years and held several senior positions including Foreign Office Minister for Africa, The UN, Caribbean, Overseas Territories and Conflict Issues; Chairman of the Westminster Foundation for Democracy; Chairman of the All-Party Group on the Commonwealth; and the Prime Minister`s Trade Envoy to Libya. In 2016, he was Knighted in the New Year Honours list for Parliamentary and Political Service. He sits in the House of Lords after being awarded a Life Peerage in 2020.
In addition to his Parliamentary career, Lord Bellingham has held five former non-executive roles for AIM companies, and this includes chairing Pathfinder Minerals plc. He is also currently chairman of four private companies. Before entering Parliament, Lord Bellingham practiced as a barrister having graduated from Magdalene College, Cambridge with a master’s degree in Law.
The appointment of Lord Bellingham follows the anticipated resignation, which had been planned since early 2023, of Mr. Oliver Andrews as Chairman of the Board, a position he has held since 2 August 2021. Mr. Andrews, who is resigning to focus on other endeavors, has provided steady guidance to the Board and Company during 2023 as the Company has transitioned its management team and diversified to include oil and gas assets in the USA. Additionally, Mr. Andrews has supported the Company financially, including investing US$100,000 in the Secured Convertible Loan Note announced in the RNS dated 25 May 2023.
Lord Henry Bellingham, non-executive Chairman, commented, “As the Chairman of the Board of ADM, I am committed to growing ADM into a substantial energy investing company and diversifying our portfolio from an exclusive focus on upstream oil and gas assets to include initiatives in line with the energy transition and that take advantage of the substantial growth in technology spending currently being experienced by the energy industry.”
About ADM Energy PLC
ADM Energy PLC is a natural resource investing company with an existing asset base in Nigeria and the United States. 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 also owns a set of oil and gas leases in the U.S. states of California, Texas, and Kansas.
ADM Energy is committed to maximizing long-term value from its existing asset base in Nigeria while targeting other investment opportunities in the oil and gas sector with attractive risk-reward profiles such as the proven nature of reserves, level of historic investment, established infrastructure, and route to early cash flow.
SOURCE: https://admenergyplc.com/
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