ADX Energy Limited (ASX:ADX) Announces Riedel Resources Limited (ASX:RIE) Share Offer Closed
Perth, Dec 29, 2010 AEST (ABN Newswire) - ADX Energy Ltd (
ASX:ADX) (PINK:ADXRF) is pleased to announce that the offer of up to 35 million shares in the capital of Riedel Resources Limited (ASX:RIE) ("Riedel") at an issue price of A$0.20 each to raise up to A$7 million has been successfully completed and is now closed.
Riedel will shortly advise the timetable for listing on the ASX.
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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