Overview of Anshof-2A Sidetrack Oil Appraisal Well Results

ADX Energy Ltd (ASX:ADX) has announced that the Anshof-2A sidetrack oil appraisal well, located in the ADX-AT-II licence in Upper Austria, has successfully intersected a 6.5-metre net vertical oil column in high-quality Eocene aged sandstone reservoirs. The well, operated by ADX with a 60% economic interest, is set to be cased, completed, and tied-in as the second oil producer to the Anshof Permanent Production Facility.

Executive Commentary on ANS-2A Well Results

ADX Executive Chairman, Mr lan Tchacos, expressed his satisfaction, stating, 'We are very pleased to announce a second Anshof Oil Field producer. The well is expected to make a significant contribution to ADX' oil production and cashflow within a few weeks when it is tied in to the recently installed and commissioned Anshof Permanent Production facility. The ANS-2A well is the first of a two well drilling program. It will be followed by the Lichtenberg-1 gas exploration well and the testing of Welchau-1 liquids rich gas discovery. The ANS-2A well was efficiently drilled as planned and most importantly without any safety or environmental incidents.'

Summary of ANS-2A Well Results and Future Operations

The ANS-2A sidetrack well has successfully targeted thick and high porosity Eocene reservoirs, encountering a 6.5m net vertical oil column, approximately 3 times that of Anshof-3, with higher porosity and permeability. The well will be suspended as a production well and tied-in to the Anshof Permanent Production Facility, with completion operations expected to commence in early October. ADX and its partners anticipate operational synergies across their appraisal, exploration, and testing programs in Austria. The company will provide further updates on well operations, including completion and testing operations, to shareholders in the coming months.