ADX Energy Ltd.: HOCH-1 Production Testing Update

Stable, water free gas flow

Zone 1 testing of the HOCH-1 shallow gas well in Upper Austria; ADX Energy Ltd.

Wien (pta006/22.06.2026/09:04 UTC+2)

"Stable, water free gas flow rate of 2.7 million cubic feet per day recorded over 11-hour flow period for first zone tested."

"Well shut in with gauges down hole to record pressure buildup and assess gas reserves."

Key points:

• The Hochfeld-1 ("HOCH-1") shallow gas exploration well was drilled, cased and completed on the 15th of May 2026 in preparation for production testing in the ADX-AT-I exploration licence in Upper Austria. HOCH-1 is the first of three (3) shallow gas prospects to be drilled in Upper Austria. Two (2) additional gas prospects are fully permitted for drilling in 2026 (refer to Figure 1 at the PDF file).
• The HOCH-1 well encountered up to eight (8) gas reservoirs within the Hall formation and the Base Hall formation interpreted from gas shows while drilling and logging results.
• Well testing is being undertaken in two (2) phases. The first phase focussed on the upper Hall formation and the second phase on the lower Base Hall formation. The first phase will include the testing of up to three (3) zones and potentially a fourth contingent zone (refer to Figure 2 at the PDF file).
• After a clean-up flow of the first test zone (Zone 1) on the 17th of June. Down hole pressure gauges were run in the well on the 18th of June and an extended flow was undertaken on the 19th of June during daylight hours.
• During testing of Zone 1, a water free, stable gas flow rate averaging 2.7 million cubic feet per day (equivalent to 450 boepd)* over an 11-hour well test period was recorded with a stable flowing well head pressure of 870 psi (~60 bar). Zone 1 is a Basin Floor Fan ("BFF") at a depth of 1465 metres.
  *It should be noted that down hole pressure gauges restrict flow in the well thereby reducing the flow rate of the well at surface. The gauges will be removed after testing.
• The HOCH-1 well has been shut in to record a pressure build up ("PBU") over a period of approximately two (2) weeks to define the connected gas volume of the test Zone 1 BFF sand body which is interpreted to be deposited over an extensive area. The PBU response recorded will provide an estimate of the Zone-1 BFF sand gas reserves from a single interval in the HOCH-1 well before the testing of further BFF reservoirs as well as Base Hall channel reservoir zones.
• The testing of multiple sand bodies encountered in the well is intended to determine the reserves potential for the single production well and a decision to proceed with the tie in of the well for commercial production.

ADX Executive Chairman, Mr Ian Tchacos, said "The well testing program is providing encouraging results from the first basin floor fan sand interval (Zone 1) tested within the HOCH-1 gas discovery. The water free flow rate from this single sandstone alone is commercially attractive given current European gas prices of EUR 42 per MWh (US$ 14.10 MMbtu) as well as the increasing demand for local, European clean gas such as HOCH-1 pure methane (biogenic) gas. The basin floor sands encountered within the HOCH-1 well are interpreted to extend over an area in line with the pre-drill relatively large P50 to P10 area estimates, i.e. 5 to 8 km2. Due to the potentially large area of deposition, relatively thin basin floor sands can provide commercial gas volumes - this has been the case for offset wells in the basin.

"The current testing program will consist of flow tests for individual or multiple intervals followed by shut in periods to determine the single well reserves potential of the sand bodies and their flow rates. As there are up to eight (8) sand intervals the testing program is likely to involve multiple well tests. We look forward to reporting the results of HOCH-1 flow testing program over the coming weeks."

For more 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)
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Other Stock Exchanges:	Australian Securities Exchange (ASX), Sydney