ADX Energy Ltd.: Investment Agreement Completed for Gas Exploration in ADX Upper Austria Licence

Wien (pta012/08.01.2024/11:34 UTC+1)

"MND has paid EUR 0.45 million in back costs and will fund EUR 4.5 million in drilling expenditures to earn a 50% economic interest in ADX-AT-I Investment Area"

Deal Summary

• MND Austria a.s. (MND) has paid back costs of EUR 0.45 million (A$ 0.73 million) to ADX VIE GmbH (ADX) and will fund EUR 4.5 million (A$ 7.34 million) for exploration drilling to earn a 50% economic interest in an Exploration Investment Area within the ADX-AT-I license (Investment Area), in Upper Austria. The Investment Area is shown in figure 1 of the PDF-file.
• The transaction announced on the 4th of December 2023 has been completed following confirmation of acceptance of the Investment Area partnership documentation by the Austrian Ministry of Finance (BMF). The form of partnership documentation used for this transaction was previously developed by ADX and accepted by the BMF for MND's economic participation in the Anshof Field Area.
• Several gas prospects are available for drilling in the Investment Area. ADX and MND currently intend to drill either the LICHT or the IRR gas exploration prospect during the second half of 2024. Both prospects offer very large gas resources upside potential and are mature for drilling. The LICHT prospect location has already received a drilling permit, including environmental clearance.
• ADX is operator and retains a 50% economic interest in the exploration Investment Area. ADX has retained a 100% interest in the remainder of the ADX-AT-I licence including adjacent gas exploration prospects (OHO and ZAM) and the GMU geothermal / oil and gas combined energy prospect.
• MND a.s., the parent of MND, is a highly credentialled European explorer, producer and oil services group that generated approx. EUR 8.5 billion of revenue in 2022.

ADX Executive Chairman, Mr Ian Tchacos, said, "The Board of ADX is delighted to have completed the Investment Agreement with MND and we look forward to the commencement of our gas exploration program in our ADX-AT-I exploration licence. The transaction provides upfront cash of EUR 0.45 million and EUR 4.5 million of gas exploration drilling investment which we intend to deploy during the second half of 2024. We are pleased to further extend our collaborative relationship with MND across the Anshof Oil Field as well as exploration drilling opportunities within the ADX-AT-I licence. This transaction ensures ongoing exploration investment without the need to raise further shareholder funds, a strategy which provides upside to our shareholders with minimal financial exposure.".

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