ADX Energy Ltd.: HOCH-1 Well Deepened after Encountering Further Gas Intervals
Wien (pta010/08.05.2026/09:16 UTC+2)
"Six Thin Gas Sand Intervals have been encountered below the Previously Reported Hall Formation Interval"
Key points:
- The Hochfeld-1 ("HOCH-1") shallow gas exploration well commenced drilling on 16th of April 2026 at 9.00 pm CET 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 permitted for drilling in 2026.
- Well operations at 17.50 hours CET on the 7th of May 2026 were the drilling of the well to a measured depth ("MD") of 1619 metres in preparation for logging the 6 1/8 inch hole.
- Six further sands approximately 1 to 2 metres thick have been encountered with gas shows below the previously reported primary target interval (Hall Formation) between 1354 to 1368 metres MD. The gas sand intervals have been interpreted based on drilling cuttings and high gas concentrations.
- The planned wireline logging program has been delayed to the 8th of May due to the deepening of the well. The wireline logging program is intended to confirm reservoir quality, net reservoir thickness and gas saturation. A quick look logging analysis is currently expected to be available on the 9th of May. If the results of wireline logging confirm the drilling results to date, the well will be cased and completed in preparation for production testing.
- The HOCH-1 well was targeting highly productive shallow gas reservoirs within Miocene aged sandstones of the Hall formation. Similar Hall formation wells have recorded initial production rates of up to 9 mmscf/d (approx. 1,500 barrels per day oil equivalent).
- The HOCH prospect has a Mean Prospective Resource(*1,2) potential of 8.0 BCF and a High Case Prospective Resource of 17.3 BCF (refer to Prospective Resources Estimate, Figure 4 in the attached Appendix and ASX release dated 30 January 2026).
*1The Base Hall formation intervals encountered in the well below the primary target are not included in the predrill estimates.
*2 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.
ADX Executive Chairman, Mr Ian Tchacos, said "The HOCH-1 well continues to provide encouraging results for ADX and its partner. The deeper, thinner Base Hall formations encountered within the well below the 3D seismic well-defined primary (Basin Floor) target are of economic interest. Analogous Base Hall reservoirs have provided meaningful contributions to production rates and reserves in other nearby wells in the basin.
"Due to the deepening of the well, we anticipate further reporting in relation to the logging program after the weekend and in all likelihood a testing program within a few weeks."
For more details 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 |