ADX Energy Ltd.: ADX Secures A$4.4 million from a Strongly Supported Placement
Wien (pta011/13.03.2026/10:23 UTC+1)
Key Points:
- ADX Energy Ltd has secured firm commitments to raise A$4.4 million via a strongly supported placement to new and existing sophisticated investors including institutional investors.
- Placement proceeds provides additional funding for the following planned activities:
- Ongoing evaluation of testing results from the Welchau-1 light oil and gas discovery;
- Drilling the HOCH -1 shallow gas exploration well in Upper Austria to be spudded in April 2026;
- Well site preparation and materials for two (2) additional shallow gas exploration wells in Upper Austria;
- Further seismic and drilling data purchases for Sicily Channel permit;
- Dual listing on Oslo Børs' Euronext Growth market; and
- General working capital.
ADX Executive Chairman, Mr Ian Tchacos, said "The Board of ADX is pleased by the strong support for this placement and welcomes a number of new domestic and international investors to the register.
The additional funding enables ADX to capitalise on growth opportunities in our Austrian production and exploration areas, as well as the Sicily Channel in Italy, at a time when domestic hydrocarbon production in Europe is becoming increasingly important both economically and strategically.
ADX continues to expand and enhance its portfolio of production and exploration assets in Austria and Italy. We are seeking to build our production base in Austria with a program of low-risk, immediate, shallow gas exploration drilling this year commencing with HOCH-1 well in April. The additional funds will enable the Company to prepare for further drilling of two (2) additional permitted shallow gas wells following on from HOCH-1, as well as the maturation of attractive near field oil targets close to the Company's 3000 barrels per day processing facility at Anshof.
In addition to low risk, near term targets that can deliver a rapid build up of cash flow, we continue to pursue high-impact prospective exploration assets such as the Welchau light oil and gas discovery in Austria, as well as the Sicily Channel gas exploration permit offshore Italy.
In conjunction with our portfolio development, we believe that a European listing is an important corporate development for ADX. The planned listing on the Oslo Børs' Euronext Growth market is expected to provide trading access for European investors, enhance visibility, improve liquidity, broaden the shareholder base and support for future growth opportunities. The Board believes more support out of Europe for European Assets will translate into improved value development for our Australian investors.
Europe needs much more reliable energy and ADX is well placed to deliver it from our Austrian and Italian asset portfolio."
For more details please see the PDF file.
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| Emitter: |
ADX Energy Ltd. Ölzeltgasse 3/8 1030 Wien Austria |
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|---|---|---|
| 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 Frankfurt, Hamburg, Munich, Stuttgart, Tradegate BSX | |
| Other Stock Exchanges: | Australian Securities Exchange (ASX), Sydney |