ADX Energy Advances Gas Exploration in Austria

ADX Energy (AU:ADX) has released an update.

ADX Energy Ltd has commenced the drilling of the Lichtenberg-1 gas exploration well in Upper Austria, utilizing the RED E-202 rig, with an aim to complete drilling in approximately 30 days to a total depth of 2900 meters. The company holds a 100% interest in the ADX-AT-I license area, which will reduce to 50% upon MND’s farmin completion, and is targeting productive Upper Oligocene sandstone reservoirs, similar to nearby wells. ADX plans to provide weekly updates on the well’s progress and subsequent drilling results.

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