ADX Energy (ASX:ADX) is an ASX-listed, Europe-focused energy production and exploration company with oil and gas projects in Austria, Romania and Italy, and a focus on the implementation of low-carbon technologies.
In Austria, ADX is fast-tracking its near-term oil and gas activities with a focus on delivering cash from its Anshof oil discovery and drilling the world-class Welchau gas prospect.
The Welchau prospect has a best technical prospective resource of 750BCF, and was recently picked up when ADX finalised agreements with the Austrian Mining Authority which more than doubled its license area in country.
The area also incorporates the ZAM natural gas prospect, and the Gmunden multi-energy resource prospect which includes both gas and geothermal targets.
ADX also holds the Vienna Basin Green H2 project, where it is working towards its green hydrogen goals.
The projects allows ADX to contribute to Austrian and broader European gas supply security at a time when prices are soaring, while also providing a longer-term green energy transition focus.
In Western Romania, ADX operates the Parta exploration permit and the Iecea Mare production permit via a 49.2% equity interest in Danube Petroleum Limited. The area has good access to infrastructure, and the company is also studying its geothermal opportunities at Parta.
ADX also holds a 100% interest in the Nilde Oil Field redevelopment project off the coast of Italy.
ADX’s primary goal is to become a leading onshore European energy producer – and it is well on its way to doing so.
Ian Tchacos | B.Eng (Mech.) | Executive Chairman (Appointed 2 March 2010)
Mr Tchacos was appointed as Non-Executive Chairman of ADX on 2 March 2010 and appointed as Executive Chairman on 28 September 2015. He is a Petroleum Engineer with over 30 years international experience in corporate development and strategy, mergers and acquisitions, petroleum exploration, development and production operations, commercial negotiation, oil and gas marketing and energy finance. He has a proven management track record in a range of international oil company environments. As Managing Director of Nexus Energy he was responsible for this company’s development from an onshore micro-cap explorer to an ASX top 200 offshore producer and operator.
Paul Fink | MSc (Geophysics) | Executive Director (Appointed 25 February 2008)
Mr Fink has over 25 years of petroleum exploration and production industry experience in technical and management positions. He is a graduate from the Mining University of Leoben, Austria and started his career as a seismic data processing geophysicist and then worked predominantly on international exploration and development projects and assignments in Austria, Libya, Bulgaria, UK, Australia and Pakistan as Exploration and Reservoir Manager for OMV.
Edouard Etienvre | MSc (Management) | Non-Executive Director (Appointed 7 January 2020)
Mr Etienvre is an energy and natural resources executive and entrepreneur with over 12 years of experience in the oil and gas, mining, shipping and offshore facilities sectors initially with banks including sell-side equity research and reserve-based lending. More recently his experience has included positions with private and public E&P companies, ship owners and offshore facilities owners, mining companies and a mid-size trading group managing investments in companies active in the oil and gas sector.