ADX Energy Ltd.: Welchau Gas Exploration Well Update

Drilling Operations Report No. 2

Wien (pta024/04.03.2024/13:31 UTC+1)

Key points:

• The Welchau-1 gas exploration well was spudded on the 24th of February using the RED Drilling & Services GmbH (RED) E200 drill rig in the ADX-AT-II exploration licence in Upper Austria.
• Operations at 6.00 am Central European Time (CET) on the 3rd of March was running back into the well to a depth of 640 metres in the 12 ¼ inch hole section.
• Progress since the last report on the 25th of February was drilling 17 ½ inch hole to a depth of 120 metres, running and cementing 13 ⅜ inch casing and drilling ahead to the current depth.
• The planned forward program is to drill ahead in 12 ¼ inch hole to a depth of approximately 1050 metres, run wireline logging tools then set and cement 9 ⅝ inch casing.

For further details please see the PDF file.

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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