ADX Energy Limited Stock Market Press Releases and Company Profile
Removal of MD and appointment of CEO and Exec Chairman
Removal of MD and appointment of CEO and Exec Chairman

Perth, Sep 28, 2015 AEST (ABN Newswire) - ADX Energy Ltd (googlechartASX:ADX) hereby announces the removal of Dr Wolfgang Zimmer as Managing Director and the immediate termination of his Consultancy Agreement. Dr Wolfgang Zimmer will retain a role as a Non Executive Director.

Mr Paul Fink has been appointed as Chief Executive Officer and will assume the role of Executive Director. Mr Ian Tchacos will assume the role of Executive Chairman supporting Mr Fink to reinvigorate the Company with a view to progress its current assets, expand its portfolio and secure new sources of funding in line with a new growth strategy for the Company.

Mr Fink is a geophysicist and chartered engineer with 25 years oil industry experience in various technical and senior managerial roles in operated ventures in Eastern Europe, North Africa, West Africa the UK, Asia and Australia.

Mr Tchacos is an oil and gas professional with over 30 years experience in corporate development and strategy, mergers and acquisitions, petroleum exploration, development and production operation and energy finance. He has a proven management track record in a range of international energy company environments.

ADX has recently undertaken a significant simplification of its operating structure which will enhance efficiency, improve communication and substantially reduce administrative costs.

ADX will announce a revised growth strategy and focus which the Board believes is appropriate for the current oil price environment which provides a unique opportunity for growth.

About ADX Energy Limited

ADX Energy Limited (ASX:ADX)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.

https://www.linkedin.com/company/adx-energy abnnewswire.com 


Contact

ADX Energy Limited
T: +61-8-9381-4266
F: +61-8-9381-4766
E: admin@adxenergy.com.au
WWW: www.adxenergy.com.au



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