– UK, London – ADM Energy plc (LON: ADME | BER: P4JC | FSE: P4JC), a natural resources investing company, today announced the appointments of Stefan Olivier and Claudio Coltellini to its Board of Directors respectively as CEO and as Non-Executive Director.
“I welcome Stefan and Claudio to the Board of Directors and look forward to working with them as we explore new opportunities while continuing to develop our interest in the Aje Field. I want to thank Claudio for the continuing support of OFX which we consider will be instrumental in the transition of ADM and look forward to updating the market in due course,” said Board Chairman, Oliver Andrews.
The company also announced that Manuel Lamboley has resigned from the Board with immediate effect.
Aboout Claudio Coltellini
Claudio Coltellini is an Italian citizen now residing with his family in the state of Florida. Before working in the U.S. onshore oil and gas sector, having graduated with a degree in economics and business, he joined Deutsche Bank for seven years. He has invested in the U.S. oil and gas sector for approximately 15 years and is CEO of four private U.S. oil and gas companies focused on investment in the states of Texas, California, Kansas, and Louisiana.
Claudio Coltellini said: “I am delighted to be appointed to the Board of Directors of ADM Energy plc. OFX has made a long-term commitment to the Company as a 14% shareholder and creditor. I am committed to building long-term value for the benefit of all stakeholders and will support the Company as it develops into a strong business both through its participation in new opportunities and continued development of its interest in the Aje Field which I believe to be a highly attractive, de-risked asset that is well positioned given the increased world-wide demand for liquids-rich natural gas resources.”
About Stefan Olivier
Stefan Olivier is a British citizen with extensive corporate broking and oil and gas experience including as co-founder of MX Oil plc. Stefan played a central role in initially securing and financing the participation of the Company in the Aje Field, OML 113, and in securing the support of OFX before its initial investment in the Company. He was a founder and CEO at North American Petroleum plc from 2012 until 2017. He has been on the Board of several other public and private companies and brings years of experience working in natural resources to the Board of the Company.
Stefan Olivier said, “Having played a significant role in securing the initial support of Claudio and OFX for ADM, I am excited to be back and to have the support of a seasoned and strong partner whose interests are aligned with ADM to move forward exploring new opportunities and to continue working to optimize value from our interest in the Aje Field. The recent endorsement of the G7 regarding the need for continued investment in new natural gas supply bodes well for the future development of Aje.”
About ADM Energy plc
ADM Energy plc is a natural resource investing company with an existing asset base in Nigeria. 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 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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