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ADX Energy ( (AU:ADX) ) just unveiled an announcement.
ADX Energy has begun drilling the Hochfeld-1 shallow gas exploration well in its ADX-AT-I exploration licence in Upper Austria, where it holds a 50% economic interest and operates the project. The well targets highly productive Miocene-age Hall formation sandstones, similar to nearby wells that have delivered strong initial gas production rates.
HOCH-1 was spudded on 16 April 2026 and is planned to reach a measured depth of about 1,430 metres over roughly 14 days, after which a successful well will be cased and suspended for production testing to assess reserves potential. The Hoch prospect carries a mean prospective resource estimate of 8.0 BCF, positioning the campaign as a potentially meaningful contributor to ADX’s gas portfolio and future production profile in Austria.
More about ADX Energy
ADX Energy Ltd is an Australia-based oil and gas exploration and production company with assets in Upper Austria. The company focuses on conventional hydrocarbon prospects, including shallow gas reservoirs, where it acts as operator and typically holds significant economic interests in exploration licences.
YTD Price Performance: 32.00%
Average Trading Volume: 2,758,525
Technical Sentiment Signal: Sell
Current Market Cap: A$29.51M
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