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ADX ENERGY LIMITED

ASX: ADX

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

ADX Energy Ltd (ADX) is an Australian Stock Exchange (ASX) listed oil and gas exploration and appraisal company. ADX operates four oil and gas permits in North Africa and Europe, together with gold and base metal interests in Australia held via its stake in ASX listed Riedel Resources (RIE). The company is headquartered in Perth, Western Australia with additional offices operating out of Vienna, Austria and Tunis in Tunisia.

Sicily Channel Project Profile

The previously discovered Dougga and the recently discovered Lambouka fields comprise a significant combined resource which may exceed 500 bcf of gas and in excess of 60 MMbbls of liquids (Mean recoverable figures).

Dougga and Lambouka represent a material appraisal and development opportunity for ADX and its partners. The leading edge Geostreamer (dual sensor) 3D seismic acquired in 2010 covers both discoveries and has identified additional medium to low risk exploration prospects which can be quickly monetized through tie-in. Several additional large size prospects have been identified on 2D seismic. In 2010 Shell and Northern Petroleum acquired a very large 3D survey (1,520 km2) to cover this very prospective trend with 3D seismic in adjacent Sicily Channel licenses.

The Dougga and Lambouka gas discoveries are located offshore Tunisia and Italy in the Sicily Channel. The combination of Dougga and Lambouka gas discoveries enhances the potential of a commercially attractive gas condensate development in the Sicily channel by aggregating the resources of both fields. The Dougga field contains audited mean recoverable contingent sales gas resources of 194 bcf and 42MMbbls of associated condensate and LPGs. The resource potential of Dougga has been reviewed, utilizing the recently acquired high resolution 3D seismic data set. The recent Lambouka gas discovery is considered a potentially substantial resource containing 309 bcf mean recoverable gas resources with the potential for significant associated condensate volumes. Any development would be assisted commercially by the attractive gas pricing conditions in Tunisia and the significant liquid volumes in Dougga and potentially Lambouka.

Chorbane Exploration Asset, Tunisia

* Large undrilled onshore structures in producing oil and gas province
* High quality seismic definition available over prospects and leads
* Multi-target and DHI supported Sidi Dhaher Prospect with 175 bcf of gas and 44 MMbbl of oil potential (Mean recoverable prospective resources) to be drilled in Q1 2011
* Excellent access to onshore processing and transport infrastructure
* Strong gas market and good pricing conditions
* Excellent follow up potential in a large prospective area (2,438 km2)

Romania (Parta Block) Asset

* A prospective exploration block in a proven and producing hydrocarbon province in Romania
* 1200km2 acreage with eleven identified leads
* Mean unrisked prospective resources 303 bcf of gas and 47 MMbbl of oil
* Located in a politically stable European community with favourable tax and royalty conditions
* Easy access to local infrastructure and European markets

Riedel Resources Corporate Profile

* High order projects in proven mineralised districts of WA, including exposure to the emerging DeGrussa copper-gold trend
* Existing inferred gold resources with potential for expansion and development
* Mature, drill ready targets - Au, Cu-Au and Ni targets on core project areas
* Aggressive exploration with key exploration milestones by 2012

Mine For

oil, gas, gold, copper

Location of operation(s)

Tunisia, Italy, Romania, Western Australia

Address

Suite 1, 45 Ord Street
WEST PERTH, WA. 6005, AUSTRALIA

Phone

(61 8) 9226 2822

Email

Website


Last Updated

29/04/2014

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.