ADX Energy Ltd.: Welchau Flow Testing Update
Light oil recovered during well unloading operations
Wien (pta012/23.02.2026/09:23 UTC+1)
"Light oil recovered with same density as oil recovered from deeper reservoir sampling during drilling. Oil and gas samples are consistent with ADX interpretation(1) of a large, light oil accumulation at the Welchau-1 well with a large updip component at the crest of the structure."
Key points:
- Reifling Testing: Testing of the Reifling Formation* at the Welchau-1 well in the ADX-AT-II licence (refer to Figure 1) resumed following an acid treatment designed to initiate flow.
* The 128-metre thick Reifling Formation is the shallowest of four (4) fractured carbonate reservoirs intersected in the Welchau-1 well.
- Key Test objectives:
- Stimulate the top Reifling formation to achieve inflow of hydrocarbons.
- Acquire reservoir samples to confirm live hydrocarbons.
- Obtain a reservoir pressure.
- Results to date:
- Injection test performed and a small acidisation treatment (6 cubic metres across 45 metres of perforations) achieved inflow from the previously unresponsive reservoir.
- Hydrocarbon gas and light oil were recovered and sampled at surface whilst unloading the well by swabbing.(see also Fig.3 below) The oil and gas samples are currently being analysed.
- Insufficient inflow was achieved from stable flow indicating small volume acid treatment did not access open fracture network.
- A Reifling Formation reservoir pressure has not been recorded to date. However, the well has been suspended to record pressure build up and fluid influx.
- Future Operations: The well will be monitored to record pressure build up and fluid inflow. Further testing is being evaluated including a larger acid stimulation of the Reifling Formation requiring a coiled tubing unit.
(1) Updated Mapping and Pressure Analysis - Refer to ASX Release dated 4 February 2026
- Updip Oil Potential: The crest ofthe shallow Welchau anticline, mapped approximately 500 metres updip and to the West of the Welchau-1 well, is interpreted as an updip light oil accumulation (refer to Figure 2).
- Regional Hydrocarbon Play with Multiple Appraisal Objectives: Welchau is a strategically significant gas condensate and potentially Welchau-1 updip light oil discovery, characterised by overpressured reservoir conditions with multiple petroleum sources across several formations. Further appraisal can be undertaken by a side track (targeting updip light oil) or deepening (targeting gas-condensate) of the Welchau-1 well.
ADX Executive Chairman, Mr Ian Tchacos, said "The results of Welchau-1 testing to date are very encouraging indicating a potentially significant light oil accumulation at Welchau in addition to the deeper gas condensate potential.
"The nature of the oil and gas sampled from this test supports ADX's well data updated structural interpretation, indicating that a light oil column exists with the crest of the Welchau anticline approximately 500 metres updip from Welchau-1. The lack of biodegradation of the oil sampled within the Reifling and Steinalm Formations, as well as the observed over pressured system, further supports the interpretation of an updip oil accumulation.
"Although the Welchau play is relatively complex, - as most of the worldwide very large carbonate fields - the potential reward is substantial for an onshore location, given its relatively shallow drill depths near to existing infrastructure. Our ongoing work continues to provide an improved understanding of the shallow, light oil accumulation and the deeper gas condensate potential within the large Welchau anticline.
"We look forward to providing further updates from ongoing sample analysis, pressure monitoring and further testing work."
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 |