Wien (pta031/13.03.2023/15:50 UTC+1)
The production license award enables ADX to expand the development of the oil field including the drilling of two development wells within the next 12 months in addition to the already producing Anshof-3 discovery well.
ADX Executive Chairman, Mr Ian Tchacos, said, "The Board of ADX is delighted by the award of the Anshof production license less than 12 months after the initial testing of the Anshof-3 discovery well. Our management and operating team in Austria are developing a transformative new production asset for our Company in a very short time frame. Anshof has substantial independently assessed reserves and production potential that is expected to provide rapid revenue growth for ADX. We are especially appreciative of the Austrian government support, well defined and transparent permitting processes, together with a favourable operating environment, which will enable ADX to further contribute to Austria's economy and energy security."
For the ASX Release please open the PDF file.
For further details please contact:
|Paul Fink||Ian Tchacos|
|Chief Executive Officer||Executive Chairman|
|+61 (08) 9381 4266||+61 (08) 9381 4266|
Authorised for lodgement by Ian Tchacos, Executive Chairman
ADX Energy Ltd.
|Contact Person:||DI Paul Fink|
|Phone:||+43 (0)50 724 5666|
|Stock Exchange(s):||Free Market in Berlin, Frankfurt, Hamburg, Munich, Stuttgart, Tradegate|
|Other Stock Exchanges:||Australian Securities Exchange (ASX), Sydney|