ADX Energy Ltd.: Operations Update Welchau-1 Production Testing

Wien (pta011/11.12.2024/09:31 UTC+1)

"Ongoing well pressure monitoring, sampling and testing program for the upper part of the Reifling formation."

ADX Energy Ltd (ASX Code: ADX) reported the initial results of flow testing of the upper part of the Reifling formation in the Welchau-1 discovery well on the 4th of December 2024. The Welchau-1 well is located in the ADX-AT-II licence in Upper Austria. ADX holds a 75% economic interest in the Welchau Investment Area which contains the Welchau discovery and other emerging prospects in the Northern Calcareous Alps.

Background

The upper part of the Reifling formation has been perforated and an initial flow test conducted. The initial flow test did not result in sufficient flow into the well bore for reservoir fluids to enter the tubing string and allow the Reifling reservoir fluid composition to be determined or sampled.

Sampling of the inflow has recovered primarily workover fluids (brine) and traces of black solid particles of unknown composition, which may be affecting well flow. The composition of the solid particles are being analysed at a specialist laboratory.

The well has been left shut in and the work over rig demobilised to undertake planned work at ADX Vienna Basin Fields until further sample analysis and well data become available from Welchau-1.

Forward Program

Well head pressure recording equipment of suitable accuracy will be fitted to the well head to enable the recording of the potential pressure build up due to well inflow. If sufficient inflow is observed then further sampling will be undertaken and the well will be swabbed using wire line to reduce hydrostatic pressure and induce further flow.

If hydrocarbons are recovered, it is intended that further testing of the shallowest Reifling formation will be resumed, most likely, after acidization of the reservoir to overcome well bore damage and enhance productivity in the carbonate reservoir.

In parallel with the above-mentioned activities, samples recovered from the testing of the Steinalm formation will be analysed to determine if hydrocarbons are present as well as determining the composition and likely source of solid black particles which were also encountered in the Reifling formation flow test.

The results of the well pressure monitoring, sampling and well fluid analysis are expected to be available early in the new year after which a decision on further stimulation and/or testing operations will be taken.

For further details please see the PDF file.

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Emitter:	ADX Energy Ltd. Ölzeltgasse 3/8 1030 Wien Austria
Contact Person:	Vesna Blazevic
Phone:	+43 676 6893465
E-Mail:	office@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