Taking advantage of an incumbent withdrawing from the sector ADX Energy is a A$10 mm market cap E&P focusing on Austria where it produces ~310 boe/d (mostly light oil) from long life mature assets and since December 2019 is the 3rd oil producer and only foreign operator alongside OMV and RAG. Austria has a long history as an oil and gas producing province, having to date produced > 1 bn bbl of oil and 2.7 tcf of natural gas. Austria is also a gas hub for Europe. This is not well known as Austria ....