ADM Energy PLC has announced changes to its board of directors. Lord Henry Bellingham has been appointed as the Chairman of the Board, while Oliver Andrews and Richard Carter have resigned from their positions. Lord Bellingham has been a non-executive director of the company since July 2020 and has had a distinguished career in Parliament. He brings extensive experience in non-executive roles for AIM companies and currently chairs four private companies. Lord Bellingham's appointment follows the planned resignation of Mr. Andrews, who has provided guidance and financial support to the company. Mr. Carter has also resigned to pursue other opportunities. The resignations will result in the reduction of the board from six directors to four.
Lord Bellingham expressed his gratitude to Mr. Andrews and Mr. Carter for their service and support to the company. He emphasized the progress made by ADM Energy in positioning itself for renewed growth and expressed his commitment to expanding the company's portfolio beyond upstream oil and gas assets. Stefan Olivier, the CEO of ADM Energy, also thanked Mr. Andrews and Mr. Carter for their efforts and supported Lord Bellingham's appointment as Chairman.
ADM Energy is a natural resources investing company with assets in Nigeria and the United States. The company holds a 9.2% profit interest in the Aje Field in Nigeria and owns oil and gas leases in California, Texas, and Kansas. ADM Energy aims to maximize the long-term value of its existing assets in Nigeria while targeting other investment opportunities in the oil and gas sector.