Adelaide Energy Limited (ASX:ADE) Announces A Record Sales Quarter

Adelaide, Oct 6, 2010 AEST (ABN Newswire) - Adelaide Energy Limited (ASX:ADE) is pleased to announce that in the quarter recently ended on 30 September 2010 it achieved record sales from its Otway Petroleum Project's deliveries of gas and condensate production.

Revenue in the quarter was A$1.64M. In addition, at the end of the quarter, ADE held stocks of condensate awaiting sale worth some A$200k.

Commenting on the quarter's results, Carl Dorsch, ADE's Managing Director, said:

"This quarter's record revenues are pleasing not only in their absolute record size, but also in their composition. Production has come from the testing of the Jacaranda Ridge-2 well, the recently connected Limestone Ridge-1 well and also from the old Redman, Katnook and Haselgrove wells."

Contact

Carl Dorsch Managing Director Adelaide Energy Limited Mob:+61-0400-508-088 Email: c.dorsch@adelaideenergy.com.au Neil Young Chief Commercial Officer Adelaide Energy Limited Mob: +61-0417-850-245 Email: neil.young@adelaideenergy.com.au http://www.adelaideenergy.com.au