ADX Energy Ltd.: Activities Report for the Quarter ended 31 March 2025

Wien (pta029/30.04.2025/11:34 UTC+2)

ADX Energy Ltd (ASX: ADX, "ADX" or "the Company") is pleased to provide an update on its activities for the quarter ended 31 March 2025.

Past Quarter Highlights

• Austrian net production averaged 246 BOEPD, an increase of 13% compared with the last quarter. 190 BOEPD was contributed from the Vienna basin Fields and 56 BOPD (net) from Anshof.
• Sales revenue for the quarter was A$ 2.5 million, an increase of 15%.
• Vienna Basin Field production increased from 194 BOEPD in month of December 2024 to 229 BOEPD in the month of March 2025 following a work over program.
• Welchau-1 testing was suspended until the State Administrative Court of Upper Austria opines on the objections to the Environmental Clearance.
• The Sicily Channel Gas Exploration Permit, Offshore Italy, was offered by the Ministry and accepted by ADX.
• Renewal of ADX-AT-I & II exploration licences in Upper Austria were granted until year end 2028 and the licence areas subsequently varied to incorporate multiple shallow gas play prospects and the extension Welchau play and the follow up Rossberg prospect.
• ADX' cash at the end of the quarter was A$ 6.7 million.

Next Quarter Planned Activities

• Recommence Welchau-1 flow testing operations upon resolution of Environmental Clearance objections.
• Permitting of near term rapid cash flow generating drilling opportunities in Upper Austria including:
  • Anshof near field Eocene oil appraisal and exploration, and
  • Low risk, shallow gas exploration wells.
• Ongoing high impact prospect generation including Welchau deepening, Welchau follow up prospects and deeper Jurassic aged oil and gas plays utilising reprocessed 3D Seismic Pre Stack Depth Migration.
• Formal award of Sicily Channel Gas Exploration Permit by the Italian Ministry of Environment and Energy Security is expected in mid of May.
  • Purchase of additional seismic and updating of Resource Potential for Permit.
• Ongoing partnership formation discussions regarding near term drilling prospects.

ADX Executive Chairman, Mr Ian Tchacos, said,"During the past quarter ADX has pursued parallel strategies of production, appraisal and low risk exploration which can translate into near term production growth in Austria, as well as longer term high impact portfolio development which includes the ongoing testing of the Welchau play, deeper Jurassic aged oil and gas exploration as well as the highly prospective, soon to be awarded Sicily Channel Gas Exploration Permit.

"The variation of our Upper Austria Licence areas during the quarter has enabled ADX to secure three Shallow Gas Drilling prospects that are drill ready and identify up to another seven potential prospects using modern 3D seismic AI (Artificial Intelligence) methods. The play has been proven by historic wells that intersected shallow gas reservoirs by accident prior to the availability of 3D seismic and advanced processing techniques. Due to the low cost and low risk nature of the usually highly productive reservoirs, this play provides the ability to rapidly commercialise discoveries which are proximal to infrastructure. ADX will continue to focus on building out this play with a view to attracting a funding partner and the drilling the first cluster of prospects later this year.

"The ongoing testing program of Welchau will be determined by the ongoing analysis of the results from testing to date. The timing of the potential recommencement of testing operations will be dependent on the decision of the State Administrative Court of Upper Austria.

"A recent preparatory meeting for the grant of Sicily Channel Permit has provided a high degree of confidence that the Permit will be awarded in the coming quarter. Once awarded, ADX intends to purchase additional high quality 2D seismic with a view to upgrading our internal resource assessment of the Permits' potential as well as undertaking an independent resource assessment. The combination of proven existence of gas, highly productive reservoirs, shallow drill depths, attractive fiscal terms, flexible permitting conditions and proximity to two geologically similar producing fields with local gas pipeline infrastructure makes this Permit a highly desirable addition to ADX portfolio.

"On behalf of the Board of ADX, I look forward to reporting our ongoing progress in Austria and Italy in the coming months."

For more details please see the PDF files.

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Emitter:	ADX Energy Ltd. Ölzeltgasse 3/8 1030 Wien Austria
Contact Person:	Vesna Blazevic
Phone:	+43 676 6893465
E-Mail:	office@adx-energy.at
Website:	www.adx-energy.com
ISIN(s):	AU000000ADX9 (Share)
Stock Exchange(s):	Free Market in Berlin, Frankfurt, Hamburg, Munich, Stuttgart, Tradegate
Other Stock Exchanges:	Australian Securities Exchange (ASX), Sydney