ADX Energy's LICHT-1 Drilling Update

ADX Energy (ASX:ADX) has completed drilling operations for the LICHT-1 gas exploration well in Upper Austria. The well, which reached a total depth of 3260 metres, did not encounter commercial gas sands. The drilling was completed efficiently and within budget, providing data crucial for future exploration efforts.

Conclusion and Future Outlook of ADX Energy's LICHT-1 Well

ADX Energy's LICHT-1 well did not find commercially viable gas sands, but the operation was successfully completed within budget and without incidents. The data collected will assist in future exploration strategies by improving seismic calibration. ADX remains optimistic about other exploration prospects within the ADX-AT-I licence area, thanks to a strong exploration success rate. The company plans to conduct electric line logging to further evaluate the Oligocene sediments. ADX's exploration strategy is supported by partnerships, such as the one with MND, which bore most of the LICHT-1 well's costs. Future announcements will include results from electric line logs, as ADX continues to explore new opportunities in Upper Austria.

Executive Commentary on LICHT-1 Drilling Results

The data gathered from LICHT-1 will provide critical insights for future exploration in the under-explored area, aiding in the calibration of seismic data. ADX remains optimistic about other prospects in the ADX-AT-I licence area, supported by their successful exploration and farmout strategy.