Wildcatter Podcast: Austria’s unique energy market, ADX’s Romanian gas and the oddity of the Italian offshore moratorium
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Stock analysis veteran and lover of the oil and gas game, Peter Strachan, is putting aside the Bloomberg terminal and picking up the microphone for another instalment of The Wildcatter Podcast.
In this latest episode, Peter interviews ADX Energy (ASX:ADX) executive chairman Ian Tchacos.
ADX Energy has been very active through the September quarter of 2019.
The company made a gas discovery with its first well in Romania and has purchased production totalling to 350 barrels of oil per day in Austria, plus access to a vast library of 3D seismic data, from which it has identified several exploration and appraisal opportunities. This progress was followed by raising new debt and equity to support its expansion.
The company has a 100% interest in a contingent oil resource of just over 31 million barrels of oil offshore Italy, where it has farm-in support for planed appraisal drilling once an 18 months regulatory moratorium on oilfield development concludes in late in 2020.
It also holds 100% of a large oil and gas opportunity in an energy hungry, high value market offshore Tunisia.
Near term flow testing of the Romanian gas, plus movement towards drilling low risk Austrian appraisal and exploration prospects should focus market attention on the company through 2020.
So tune in to hear Peter and Ian discuss Austria’s unique energy market, ADX’s Romanian gas and the oddity of the Italian offshore moratorium.
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