ADX Energy (AU:ADX) has released an update.
ADX Energy Ltd has announced the successful drilling of the Anshof-2A sidetrack oil appraisal well, revealing a 6.5-metre oil column with higher porosity and permeability compared to the previous Anshof-3 well. The new well, part of a two-well drilling program in Upper Austria, is expected to significantly boost the company’s production and cash flow once operational. Completion and tie-in to the existing Anshof Permanent Production Facility are scheduled for early October.
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