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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.
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