ADX Energy Ltd.: Anshof-2 Appraisal Well Update

Drilling Operations Report No 3

Wien (pta018/28.11.2023/09:40 UTC+1)

Key points:

• The Anshof-2 appraisal well is located in the ADX-AT-II licence in Upper Austria. The well was spudded at 10:00 am Central European Time (CET) on the 13th of November 2023. ADX is the operator and has a 60% economic interest in the well.
• The RED Drilling & Services GmbH (RED) E-202 rig is being used to drill the Anshof-2 well, the same rig used to drill Anhof-3 discovery well.
• At 6:00 am CET on the 27th of November 2023 the status of well operations was drilling ahead at a depth of 1108 meters in 8 ½ inch hole.
• Previous operations since last report include the drilling of 12 ¼ inch hole to 730 meters (Casing Depth). Run and cement 9 ⅝ inch casing to Casing Depth. Set up for new 8 ½ inch hole size, drill out casing shoe and drill ahead in 8 ½ inch hole to the current depth.
• Planned future operations include the drilling of the 8 ½ inch hole to a total depth of 2650 m with a directional drill string configuration. The planned well trajectory is intended to intersect Eocene oil reservoir at near horizontal angle of 79 o to maximize the wells linear intersection with the target reservoir in order to maximise production rate and reserves recovery.
• The next routine Drilling Operations Report will be provided on the 5th of December 2023. Well drilling results will be provided as they become available.

For more details please see the PDF file.

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Emitter:	ADX Energy Ltd. Ölzeltgasse 3/8 1030 Wien Austria
Contact Person:	DI Paul Fink
Phone:	+43 (0)676 6893465
E-Mail:	paul.fink@adx-energy.at
Website:	www.adx-energy.com
ISIN(s):	AU000000ADX9 (Share)
Stock Exchange(s):	Free Market in Berlin, Frankfurt, Hamburg, Munich, Stuttgart, Tradegate
Other Stock Exchanges:	Australian Securities Exchange (ASX), Sydney