ADX Energy Ltd.: GOLD-1 Shallow Gas Well Update
Rig slot secured and drill site construction is underway for January 2027 drilling
Wien (pta023/12.11.2026/09:20 UTC+1)
The MND Drilling & Services rig has been contracted to mobilise on the 4th of January 2027. Drilling program duration is 14 days. Well site construction is expected to be completed by end November 2026.
Key points:
- The GOLD-1 shallow gas exploration well will be drilled in the GOLD Cluster Area ADX-AT-II exploration licence in Upper Austria during January 2027. ADX is the operator and currently holds an 100% economic interest in the GOLD Cluster Area.
- Empyrean Energy plc will earn a 10% economic interest in the GOLD Cluster Area by funding 20% of the GOLD-1 well drilling, testing and completion costs. Several other companies are at various stages of due diligence to earn an economic interest in the GOLD Cluster Area by providing funding for GOLD-1.
- The GOLD-1 well will target highly productive shallow gas reservoirs within Miocene aged sandstones of the Hall formation, basin floor submarine fan. The well has a high chance of technical success. The shallow drill depth and location near to pipeline infrastructure is expected to result in excellent economics and a rapid development cycle.
- The GOLD prospect has a Mean Prospective Resource* potential of 8.3 BCF.
* Prospective Resources are those estimated quantities of petroleum that may potentially be recovered by the application of a future development project(s) relate to undiscovered accumulations. These estimates have both a risk of discovery and a risk of development. Further exploration appraisal and evaluation is required to determine the existence of a significant quantity of potentially recoverable hydrocarbons.
For further information 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 |