Energy

ADX Energy commences drilling at Lichtenberg-1 Well in Austria

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ADX Energy (ASX:ADX) has commenced drilling its Lichtenberg-1 gas exploration well located in the ADX-AT-I licence area, Upper Austria.

The well, which was spudded on Sept. 26, is anticipated to reach a total depth of approximately 2900m measured depth within 30 days.

Current operations at the site involve working at a depth of 1288m MD in preparation for further drilling.

The well aims to investigate an Upper Oligocene sandstone reservoir alongside two additional geological targets.

The well is being drilled by the RED Drilling & Services GmbH E-202 rig.

ADX operates and retains a 50% economic interest in the project while maintaining full interest in the rest of the ADX-AT-I licence.

Ian Tchacos, executive chairman of ADX Energy, stated, "ADX is pleased to advise that at 6:00 am CET on the Oct. 7 the status of drilling operations was conditioning the well prior to resuming drilling."

Updates on the well's progress will be issued weekly, with the next report due on Oct. 15.

ADX Energy is an energy producer and explorer. The company’s portfolio represents both onshore and offshore energy operations across Austria, Romania, and Italy.

It operates through three segments: Sicily Channel Offshore Exploration and Evaluation; Romania Exploration and Appraisal/Development, and Austria Production.

At the time of reporting, ADX Energy's share price was $0.125.

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