ADM Energy Plc (LON:ADME) has completed a second round of funding worth £129,000 through a subscription at 7p per share by Mrs Olanike Olakunmi Anani.
Mrs Anani is already is a shareholder in the Nigerian oil group and her stake in the business rises to 6% following this latest subscription.
ADM raised £283,000 earlier in the month and intends to raise a further £150,000 for a total funding round of £562,000.
The company owns 5% of the producing Aje field on licence OML 113.