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ADME Adm Energy Plc

0.325
0.00 (0.00%)
03 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Adm Energy Plc LSE:ADME London Ordinary Share GB00BJFDXW97 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.325 0.30 0.35 0.325 0.325 0.325 286 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Crude Petroleum & Natural Gs 662k -2.12M -0.0064 -0.50 1.07M

MX Oil PLC Update on the Aje Field (9778D)

06/02/2018 7:00am

UK Regulatory


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RNS Number : 9778D

MX Oil PLC

06 February 2018

6 February 2018

MX Oil / Ticker: MXO / Index: AIM / Sector: Oil & Gas

MX Oil plc ("MX Oil" or the 'Company')

Update on the Aje Field

MXO plc, the oil and gas investing company listed on AIM, is pleased to provide an update with regard to OML 113, the offshore licence in Nigeria in which it has an investment.

The Aje Field within the OML 113 licence area, commenced production in 2016. As part of the oil production process, a significant quantity of new data about the underlying reservoir and related geology has been collected. Consequently, the partners in the licence have decided that it is now the appropriate time to commission the preparation of an updated Competent Persons Report ("CPR") in order to take into account this new data and to provide a more accurate update of the future potential of the field.

The Company expects the CPR to be completed in March 2018 and will provide a further update once it becomes available.

Stefan Oliver CEO said:

"We now have a very significant amount of data as a result of the recent production history of the Aje Field. Now is therefore the right time for the CPR to be updated to provide a more accurate and meaningful view of the field's potential. I very much look forward to providing an update to the market once this report has been completed"

* * ENDS * *

For further information please visit www.mxoil.co.uk or contact:

 
 MX Oil PLC 
  Stefan Olivier, CEO          +44 20 7710 9618 
 Cairn Financial Advisers 
  LLP 
  (Nominated Adviser) 
  Jo Turner/James Caithie      +44 20 7213 0880 
 Cornhill Capital 
  (Broker) 
  Nick Bealer                  +44 20 7710 9612 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

UPDSSFFAIFASEFE

(END) Dow Jones Newswires

February 06, 2018 02:00 ET (07:00 GMT)

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