• ADX is farming out 20% of the Anshof prospect in Upper Austria to ASX listed Xstate Resources. In return Xstate will fund 40% of the cost of the Anshof exploration well with a cap of EUR0.72 mm net to Xstate (corresponding to a gross well cost of EUR1.8 mm).
• Xstate could also fund 40% of the cost of a second well to earn a 20% interest in the Anshof Farmin Area within the ADX-AT-II exploration license. Following the drilling of Anshof, Xstate will have an option for two months to farmin to t ....
23 Nov 2021
ADX Energy Limited (ASE: ADX): Farm-out of a small portion of drilling prospect in Upper Austria showcases the acreage’s quality
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
ADX Energy Limited (ASE: ADX): Farm-out of a small portion of drilling prospect in Upper Austria showcases the acreage’s quality
• ADX is farming out 20% of the Anshof prospect in Upper Austria to ASX listed Xstate Resources. In return Xstate will fund 40% of the cost of the Anshof exploration well with a cap of EUR0.72 mm net to Xstate (corresponding to a gross well cost of EUR1.8 mm).
• Xstate could also fund 40% of the cost of a second well to earn a 20% interest in the Anshof Farmin Area within the ADX-AT-II exploration license. Following the drilling of Anshof, Xstate will have an option for two months to farmin to t ....