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ADX Energy Ltd (ASX:ADX)

ALERT: Price-sensitive ASX Announcement for ADX
Current share price for ADX : $0.024 -0.008 (-25%)+
Announcement
Release
3 Mar 2026 12:09PM
Price at Release
$0.032
Full Release
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Summary
ADX Energy Ltd has reported a significant light oil accumulation at the Welchau 1 well, although the primary gas-condensate target remains unreached. There is demonstrated continuity between Welchau 1 and the Molln 1 discovery, indicating a potentially extensive petroleum system. The company has provided an updated resource assessment, estimating 387 BCF P(mean) gas and 31 MMBBL P(mean) light oil and condensate as prospective resources. Testing and further exploration are required to confirm the existence of a substantial quantity of recoverable hydrocarbons. An oil water contact has been identified below the Reifling Formation, with the Welchau structure crest mapped approximately 500 meters updip of the well. ADX plans to provide future updates on its drilling and analysis activities.
Key Points
  • Significant light oil accumulation encountered at Welchau 1.
  • Original gas-condensate target not yet reached.
  • Continuity between Welchau 1 and Molln 1 discovery.
  • 387 BCF P(mean) gas and 31 MMBBL P(mean) light oil and condensate prospective resource.
  • Testing and appraisal needed to determine recoverable hydrocarbons.
  • Oil water contact interpreted below Reifling Formation.
  • Welchau is a significant gas-condensate and potential light oil discovery.
  • Further updates on drilling plans and sample analysis promised by ADX.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.