ADX Energy Ltd.: HOCH-1 Production Testing Update
Three additional zones flow gas.
Wien (pta010/28.08.2026/09:27 UTC+2)
"Comingled gas flow of 3.15 MMCFPD (548 BOEPD) gas flow recorded over 12-hour flow period."
"Well shut in with gauges down hole to record pressure buildup before further testing."
Key points:
- The Hochfeld-1 (HOCH-1) shallow gas exploration well was drilled, cased and completed encountering up to eight (8) biogenic gas reservoirs within the Hall basin floor fan formation (Hall)* and the Base Hall Channel formation (Hall Channel')**
- Well testing is being undertaken in two (2) phases. Phase 1 (which has already commenced) is focussed on two (2) zones in the upper Hall as well as a zone in the Hall Channel. Phase 2 testing will focus on Hall Channel zones only (refer to figure 2 at the PDF file).
- The first well test (Zone 2) in Phase 1 produced water free gas at a stable flow rate averaging 2.7 MMCFPD (equivalent to 450 boepd), refer to ASX release on 23 June 2026. Pressure build up analysis of the zone indicates excellent reservoir productivity (3.5 MMSCFPD potential) with a sand extent of at least 600 metres from the HOCH-1 well bore.
- The current second test in Phase 1 (Zones 3, 4 and 5) was flow tested as follows;
- Zones 4 and 5 were perforated and tested however relative flow rates were inconclusive due to the likely dominance of Zone 2 which has greater permeability than zones 4 and 5
- Zone 3 was subsequently perforated and cleaned up confirming additional gas flow from this zone
- Zones 2, 3, 4 and 5 were comingled and produced at flow rate averaging 3.15 MMCFPD (equivalent to 548 boepd) over a 12 hour period
- The well has now been shut with gauges down hole to record pressure buildup for reserves determination
Positive results have been recorded from all zones tested to date in Phase 1. Water free gas flows from all Phase 1 zones provides confidence regarding the future commerciality of the well.
Hall Channel Sands intersected in the deeper section of the HOCH-1 well have been mapped correlated to nearby wells indicating the potential for a large lateral extension of several sand bodies particularly Zone 3 and Zone 6. Water free gas flows from Hall Channel formations (Zones 4 and 5) provide confidence that the deeper potentially laterally extensive Zones 6 to 8 are also gas filled.
Further Testing
The testing of at least two (2) deeper Hall Channel zones is planned during Phase 2. A work over rig will be required to drill out a cement plug to access the deeper zones.
*The Hall zones are characterised as more evenly distributed basin floor fan reservoirs.
**The Hall Channel zones are characterised as elongated lens shaped channel reservoirs.
ADX Executive Chairman, Mr Ian Tchacos, said "The positive flow results from all HOCH-1 well zones tested to date is very encouraging in terms of the determination of a commercial reserve for the well. The results from Phase 1 also provide confidence that deeper, yet to be tested zones are likely to be gas filled and can potentially provide a significant reserves contribution given their lateral extent based on 3D seismic mapping and well correlation.
The HOCH-1 testing program is particularly relevant and motivating at a time of ongoing gas shortages in Europe, combined with the region's significant dependence on imports. This ongoing supply shortage situation increases the strategic importance of European-sourced gas and enhances the value of our shallow gas drilling program in Austria. European TTF gas hub price at time of writing is EUR 69 per MWh which equates to US$ 23 per MMBTU and an oil price equivalent of US$138 per barrel.
We look forward to reporting the results of the pressure buildup from this testing phase in the coming weeks followed by the phase 2 testing program in the near future."
For more details please see the PDF file.
(end)
| 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 Frankfurt, Hamburg, Munich, Stuttgart, Tradegate BSX | |
| Other Stock Exchanges: | Australian Securities Exchange (ASX), Sydney |