• ADX is looking to drill the Welchau prospect in Austria in the next 6-12 months. The well is ~1,100 m deep (TVD) and is expected to cost only ~US$ 4 mm, which could probably be funded from ADX’s own balance sheet or with a farm-in partner.
• The prospect is expected to hold ~650 bcf of natural gas plus 26 mmbbl of condensate (2U) with a downside case of ~170 bcf plus 1 mmbbl (1U) and an upside case of 1.3 tcf plus 53 mmbbl (3U). The target is a proven Triassic fractured limestone reservoir (“ ....
23 Jun 2022
ADX Energy Limited (ASE: ADX): Gearing-up to drill a 800 bcf prospect in 6-12 months
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ADX Energy Limited (ASE: ADX): Gearing-up to drill a 800 bcf prospect in 6-12 months
• ADX is looking to drill the Welchau prospect in Austria in the next 6-12 months. The well is ~1,100 m deep (TVD) and is expected to cost only ~US$ 4 mm, which could probably be funded from ADX’s own balance sheet or with a farm-in partner.
• The prospect is expected to hold ~650 bcf of natural gas plus 26 mmbbl of condensate (2U) with a downside case of ~170 bcf plus 1 mmbbl (1U) and an upside case of 1.3 tcf plus 53 mmbbl (3U). The target is a proven Triassic fractured limestone reservoir (“ ....