ADX Energy Ltd.: Upper Austria Operations Update

Wien (pta007/15.12.2023/08:52 UTC+1)

Well site construction commences for Giant Welchau Gas Prospect and Anshof-2 drilling operations suspended

Key points:

Welchau-1 Well Operations

• Well site construction has commenced in preparation for drilling operations on the Welchau-1 well. Preparation of the well site is expected to take approximately 5 weeks.
• The well site is expected to be completed by late January 2024 when the RED Drilling & Services GmbH (RED) E-202 drilling rig will be available for drilling of the Welchau-1 well.
• The Welchau-1 exploration well is located in the Welchau Investment Area in ADX' ADX-AT-II licence in Upper Austria.

Anshof -2 Well Operations

• The RED E-202 drilling rig has been released following completion of well suspension operations.
• Further appraisal and development drilling operations with the RED E-202 drilling rig are expected to resume at Anshof following drilling of the Welchau-1 gas exploration well.
• The Anshof-2 appraisal well is located in ADX' 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.

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