Verus Investments Limited

ADX Energy Limited (ASX:ADX) is pleased to announce that the Tunisian Authorities have agreed a schedule of supervision designed to ensure safe rig mobilization and efficient drilling operations for the Sidi Dhaher exploration well.

ADX Energy Limited (ASX:ADX) (PINK:ADXRF) is pleased to announce that the Tunisian Authorities (Comité Consultatif des Hydrocarbures) have agreed to the extension of the current Exploration period for the Chorbane permit by one year to the 12th of July 2012.

ADX Energy Limited (ASX:ADX) (PINK:ADXRF) advises that the commencement of operations on the onshore Tunisia Sidi Dhaher-1 well remains delayed while the company continues to work with the local authorities to implement appropriate safety measures during the transportation of the rig to the drilling location and through the subsequent operational phase of the well.

ADX Energy Ltd (ASX:ADX) (PINK:ADXRF) advises that ADX on behalf of its partners has delayed the immediate mobilisation of the Challenger rig to spud the Sidi Dhaher well. ADX is working with the local authorities to ensure that during the rig move and the subsequent operational phase of the well, the safety of local residents near the well site and along the access road is provided.

ADX Energy Ltd (ASX:ADX) is pleased to report that preparations for the commencement of drilling operations on the Company's operated well are progressing according to plan albeit slightly slower than expected. The company is moving ahead very cautiously despite the improved security situation in Tunisia. However these minor delays have not resulted in any significant additional cost. The current situation in Libya is not affecting the company's operations in Tunisia. The well location is 350 km west of the Tunisian border with Libya.

ADX Energy Ltd (ASX:ADX) report that preparations for the commencement of drilling operations on the Company's operated well are progressing according to plan. Site preparations have been completed and all key service and supply contracts are in place.

ADX Energy Limited (ASX:ADX) (PINK:ADXRF) report that the Tunisian security situation has continued to improve since the demise of the former president. In relation to operations at the Chorbane permit and the Sidi Dhaher well site, ADX is pleased to advise that the civil works have progressed well and without any security issues.

ADX Energy Limited (ASX:ADX) (PINK:ADXRF) is pleased to report following an assessment of the security situation in Tunisia that ADX is continuing its preparations for the drilling of the Sidi Dhaher well in its onshore operated Chorbane block.

ADX Energy Ltd (ASX:ADX) (PINK:ADXRF) is pleased to announce that it has signed a Letter of Intent with Challenger Limited to provide Drilling Rig Services for the Sidi Dhaher well in the Chorbane Exploration Permit onshore Tunisia. Challenger will be providing the RIG 37 onshore drilling unit to conduct the work programme.

ADX Energy Limited (ASX:ADX) (PINK:ADXRF) is pleased to announce that ETAP (Enterprise Tunisienne D'Activites Petrolieres) has approved the rig tender evaluation for the drilling of Sidi Daher 1 well on the Chorbane permit as proposed by ADX.