AuDAX Resources Limited (ASX:ADX) Finalising Farmouts For Sicily Channel And Chorbane Permits
Perth, Mar 18, 2010 AEST (ABN Newswire) - AuDAX Resources Ltd (
ASX:ADX) (PINK:ADXRF) is in the process of finalising a number of farmouts in relation to its Tunisian offshore and onshore acreage that are expected to provide a material source of funding to enable the drilling of an onshore well on the Sidi Daher prospect in the Chorbane permit and an offshore well on the Sambuca prospect in the company's Sicily channel permits.
AuDAX expects to announce further details on the terms of these agreements and its new partners within the next few days.
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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