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ADX Energy ( (AU:ADX) ) has issued an update.
ADX Energy Ltd has successfully raised A$3.5 million through a placement to sophisticated investors, which will fund several key activities including the recommencement of testing at the Welchau-1 well in Upper Austria, drilling of shallow gas wells, and seismic purchases for the Sicily Channel gas permit offshore Italy. Additionally, the company is preparing for a dual listing on Oslo Børs’ Euronext Growth market to enhance its visibility and liquidity, which is expected to support future growth opportunities.
More about ADX Energy
ADX Energy Ltd is an energy company focused on the exploration and development of oil and gas resources. The company operates primarily in Austria and Italy, with a focus on shallow gas drilling and offshore gas permits.
Average Trading Volume: 884,310
Technical Sentiment Signal: Sell
Current Market Cap: A$18.76M
For a thorough assessment of ADX stock, go to TipRanks’ Stock Analysis page.