– UK, London – ADM Energy plc (LON: ADME), an oil and gas investing company quoted on AIM, today announced the appointment of Peter Francis as Non-Executive Chairman and Manuel Lamboley as Non-executive Director.
Peter Francis joins ADM Energy with immediate effect and will chair the Company’s Audit Committee and Remuneration Committee. Following the appointment of a new Chairman, Stefan Olivier has stepped down from the Board and leaves the Company with immediate effect.
Following the appointment of Peter Francis as Non-executive Chairman, Richard Carter has moved from Interim Non-executive Chairman to Chief Operating Officer in an Executive Director role, where he will support the CEO and management team with its regulatory functions.
Osamede Okhomina, CEO of ADM Energy, said: “Peter and Manuel bring a level of industry standing and experience that will be invaluable as we advance our strategy to expand our investment portfolio. With these appointments, sustained production at the Aje Field, and cash flows expected to turn positive in H1 2020, the Company is in a strengthened corporate, financial and operational position to successfully originate new deals and finance investment in undervalued oil & gas projects.”
About Peter Francis
Peter Francis has over 35 years of experience working with major international oil companies. He spent 30 years with ExxonMobil in a number of executive, treasury and government related positions across the US, Europe, Russia and Africa. More recently, he worked for Royal Dutch Shell in Abuja and served as CEO of Oracle Energy, a Canadian TSX exploration and producing company focused on oil and gas activities in West Africa. Peter has extensive knowledge of working in developing and transition economies, building relationships with senior government officials and developing strategies to support the new business entry.
Mr Francis is a member of the Board of Africare, the largest Africa/US Development Agency supporting health, education and food security in Sub-Sahara Africa.
On his appointment, Peter Francis said: “This is an exciting time to be joining ADM Energy. My experience in the oil and gas industry and West Africa matches up well with the Company’s plans and I hope to contribute a great deal to ADM Energy’s development. I believe there are significant opportunities to grow the business and look forward to working with the board and management team.”
Peter studied risk management and investment at City University and NYU and is both an Associate and Fellow of the Chartered Insurance Institute London.
About Manuel Lamboley
Manuel Lamboley is a financier with over 30 years’ experience in international broking and investment banking. He previously served as Head of the Geneva office of Williams de Broe and has held senior positions at Bank Julius Bar, Kidder Peabody, Paine Webber International and Prudential-Bache Securities. Manuel has long-standing relationships with major investors and financial advisers worldwide, with a particular focus on the natural resources sector. He has been a non-executive director of several listed companies in the mining and energy sectors, including International Mining & Infrastructure Corporation plc, and was also previously an independent director of UK-based African Aura Resources Limited. Manuel is a director of Zark Capital Limited. Manuel also joins ADM Energy with immediate effect.
For more information: http://www.admenergyplc.com
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