Activity Update
Perth, Oct 8, 2014 AEST (ABN Newswire) - ADX Energy (
ASX:ADX) (ADXRF:OTCMKTS) provides a presentation including an update on the company activities.
The following highlights extracted from the presentation include:
- Secured funding via farm-outs and operated the drilling of the Lambouka discovery well - the first deep water well offshore Tunisia. 2010
- Awarded the Parta exploration permit in Pannonian basin in Romania and farmed out 50% of the block for US$ 3.5 million to fund prospect generation. 2011
- Divested a 30% interest in the Chorbane onshore exploration permit in Tunisia for US$ 1.5 million (deal yet to be finalised). 2013
- Secured a 100% interest and a 2 year program extension in the Kerkouane offshore permit in Tunisia which includes the Dougga gas discovery. 2014
- Recently awarded at 100% the 364 C.R-AX license offshore in Italy containing an existing oil field and is on trend with ADX' Kerkouane acreage. 2014
- Poised for additional transformational transactions in the near term
To view the presentation, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-ADX-694130.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.
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