ADX is an ASX listed company focussed on production, appraisal and exploration assets onshore and offshore Europe. A recent acquisition of RAG’s assets in Austria transforms ADX’s business model to a sustainable growth platform with predictable cash flows, low risk expansion opportunities as well as the higher risk higher reward appraisal and exploration that can be funded by farmouts.
Ian Tchacos – Executive Chairman
A Petroleum Engineer with 30 years of international experience in petroleum exploration, project commercialization, corporate development, strategy formulation, mergers and acquisitions, marketing and finance. In his last executive appointment as Managing Director of Nexus Energy he was responsible for the company’s development from a A$2 million micro cap explorer to an ASX listed top 200 offshore producer with a market capitalization exceeding A$ 1 billion.
What is your rationale for attending 121 Oil & Gas Investment?
ADX has recently completed a transformational European production and exploration acquisition and is seeking to increase its profile in the UK and Europe with a view to European / UK listing in the near future.
What recent news would you like to highlight to investors attending?
1) ADX Secures Funding to Complete Landmark Acquisition of
Austrian Production and Exploration Access Arrangements (14 October 2019)
2) RAG Austrian Production Asset Update and Revision of Strategic Focus (6 September 2019)
3)Iecea Mica-1 Well – Results & Operations Update (9 September 2019)
• Pannonian New Discovery and Appraisal Sands substantially exceed Pre-drill Expectations
• Well deepening suspended due to hole problems
• Well being prepared for production testing
What are your key goals for the next 3,6 and 12 months?
Finalisation of RAG Production Acquisition, Testing of recent successful Romanian well, Drill second Romanian appraisal well.
Above plus commence infill drilling on production asset, commence appraisal and exploration in Austria, bid on further production assets in Austria, listing on European of UK exchange
Above plus commence commercial production from Romanian appraisal wells, commence activities offshore Italy funded by Euro 21 million farmin.
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Access to funds – seeking joint listing
What do you think makes your company such a compelling investment?
Unique and transformational production acquisition, recent successful well in Romania and exceptional exploration potential in upper Austria with 3600 km2 3D seismic, 24 low risk prospects and access / tariff arrangements enabling rapid commercialisation.