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ADX Energy ( (AU:ADX) ) has shared an update.
ADX Energy Ltd reported a productive quarter with Austrian net production averaging 218 BOEPD, generating A$ 2.3 million in sales revenue. The company commenced commercial production from the Anshof-2A oil appraisal well and began testing the Welchau-1 discovery. Despite a court ruling interrupting the Welchau-1 testing, ADX secured a gas exploration permit in Italy’s Sicily Channel and renewed its Austrian licenses until 2028. The company plans to enhance its exploration portfolio and form partnerships for near-term drilling prospects, aiming to leverage its strong cash position and high equity asset positions to create shareholder value.
More about ADX Energy
ADX Energy Ltd is an energy company primarily focused on oil and gas exploration and production. The company operates primarily in Austria and Italy, with interests in the Vienna Basin and the Sicily Channel. ADX Energy is engaged in developing its Austrian asset base and exploring new opportunities in energy-starved regions like Europe.
YTD Price Performance: 200.0%
Average Trading Volume: 24,965
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $9M
For an in-depth examination of ADX stock, go to TipRanks’ Stock Analysis page.
