ADM has agreed to acquire a 25% interest from Energy Equity Resourcesâ 16.88% in western offshore delta OML 113, equating to a 4.2% stake or a 9.2% revenue interest. The cash-and-share deal carries a price tag of USD 3 MM. ADM already holds a 2.7% interest in OML 113, resulting partnership unchanged, viz. Yinka Folawiyo (op, NewAge (together operating as Aje Petr.), Energy Equity Res., PetroNor + ADM Egy.
ADM Energy has entered into a sale and purchase agreement with EER (Energy Equity Resources AS) to acquire 25% of the ERRs interest in OML 113.