ADX Energy Ltd.: Anshof-2 Appraisal Well Update

Drilling Operations Report No 2

Wien (pta012/21.11.2023/09:31 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 20th of November 2023 the status of well operations was drilling ahead at a depth of 458 meters in 12 ¼ inch hole.
• Planned future operations include the drilling of the 12 ¼ inch hole to a depth 730 m, running and cementing 9 ⅝ inch casing and preparations to drill 8 ½ inch hole.
• Predicted shallow gas shows of up to 4.2% were encountered below the appropriately set 13 ⅜ inch conductor casing with a total depth at 129.1 meters.
• The next routine Drilling Operations Report will be provided on the 28th of November 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