• 2023 is expected to be a busy and transformational year for ADX. The company plans to grow gross production at Anshof (4.2 mmbbl net 2P reserves) to almost 1,000 bbl/d with two new wells by YE23. At that level, ADX can generate US$13 mm operating cashflow per year (after tax). This represents ~65% of the company market cap.
• The Anshof-2 appraisal well, expected to be drilled in 3Q23, will provide further visibility on (i) the field’s production rate potential and (ii) firm-up the position of ....
