Quarterly Activities Report March 2014
Perth, April 30, 2014 AEST (ABN Newswire) - ADX Energy (
ASX:ADX) (ADXRF:OTCMKTS) is proud to announce its quarterly activities report for period ending March 2014.
Highlights
- Parta Permit (EX-10) , Onshore Western Romania: New seismic planned after the Q4 2013 2D and 3D acquisition campaign
Following the Q4 2013 seismic acquisition and the excellent results in terms of both data quality and prospectivity, planning is ongoing for a further campaign in Q3 2014. This will also include a dense 2D, high resolution grid over a prospect identified on the 2013 seismic campaign. This prospect could be the first drilling target in the Parta license, with a possible Q4 2014 spud date.
- Tunisia & Italy: Farmout Campaign gains momentum after ADX back at 100% interest in Kerkouane.
As part of the agreement with Gulfsands Petroleum Plc ("Gulfsands") ADX now holds 100% of the Kerkouane license, subject to Tunisian government approvals which include a 2 years extension for the Tunisian Kerkouane block. Holding a 100% operated working interest in all the licenses will allow ADX a much wider range of potential farm in deals than was possible in the past, including large sized companies who typically would have wanted a much larger equity share than was possible until recently.
To view the complete quarterly activities report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-ADX-675832.pdf
About ADX Energy Limited
ADX Energy Limited's (
ASX:ADX) (OTCMKTS:ADXRF) is an Australian Stock Exchange (ASX) listed International Energy Explorer which is soon to become a Producer. The Company's Geographical focus is Onshore Europe and Offshore Mediterranean with a portfolio consisting of recently acquired Production as well as Appraisal, Development and Exploration Assets. ADX's interests are located in Romania, Italy, Tunisia and most recently Austria. The Company's immediate focus is on low cost, low risk, profitable resource commercialisation opportunities onshore and higher cost higher reward offshore projects in the longer term. The Company is headquartered in Perth, Western Australia with additional operating offices in Bucharest (Romania) and soon to be Vienna (Austria). The Company also has representative offices in Italy and Tunisia.
ADX Energy's vision is to establish a stable cash producing platform onshore Europe and develop a number of rapid resource to reserves opportunities as well as low risk exploration potential with access to infrastructure in favourable fiscal and operating environments.
| ||
|
