I got in this month too. Was a good announcement the other day, but didn't have quite the jump I was expecting.
Have a look at what happened to the SP after the announcement on 11/01/11.
ADX - ADX Energy
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I got in this month too. Was a good announcement the other day, but didn't have quite the jump I was expecting.
Have a look at what happened to the SP after the announcement on 11/01/11.
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People have forgotten what is involved with this current well . It is interesting . One can play this oiler with little downside , and a cheap entry at 8.8c today. Leverage is 10x stuff . Money to be made , but it will take time . Well is expected to spud July '11 sometime , take 15days to reach gas zone , then another 15 days to the good oil???? It may well be Sept '11 before the stock is booming .... or dead!
springhill
Make the drill work for YOU
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MC - $10m
SP - 1.9c
Shares - 485m
Options - NQ
Cash - $1.3m (approx)
No post on ADX in 5 years. No interest in the capital structure, what caught my eye is that this is the 3rd oiler in a week to have announcements based on oil & gas in Romania.
Is Romania particularly renowned for O&G, or is this a newish, under explored frontier?
ADX signs seismic acquisition contract for Romanian Permit
ADX Energy announce that a contract for acquisition of 2D and 3D seismic has been signed between ADX and the Romanian company S.C. PROSPECTIUNI S.A. in relation to ADX’s Parta licence in Romania.
With the completion of this milestone ADX has secured an experienced contractor who is able to commence operations within a month after the Romanian government has ratified the already executed concession agreement.
The forward work commitment for the Parta Permit requires the acquisition of 2D and 3D seismic and the drilling of two exploration wells.
Parta Permit
A concession agreement for Parta was signed in January 2011 with NAMR (Agentia Nationala Pentru Resurse Minerale). A final ratification by the Romanian authorities has been repeatedly delayed due to changes of the Romanian government and is expected in the near future. The Parta Permit covers an area of 1,221 km² and is located in the southern Pannonian basin area of western Romania. It covers 7 excised oil and gas fields and is considered underexplored. The ongoing exploration activity on the ADX Romanian acreage has resulted in the identification of additional exploration potential. Several conventional oil and gas leads and prospects are estimated to contain a total of 112 mmbls of oil and 300 bcf of gas (recoverable mean prospective resource potential). The main target depths are relatively shallow between 800 and 2000 meters.
Romania represents an important growth opportunity in line with ADX’s ongoing strategy of focusing its resources on core areas which offer proven prospectivity, excellent fiscal terms and materiality.
Participant interests in the Parta permit exploration will be, subject to approval by the Romanian authorities, as follows;
ADX Energy Ltd 50% Operator
RAG 50%
SP - 1.9c
Shares - 485m
Options - NQ
Cash - $1.3m (approx)
No post on ADX in 5 years. No interest in the capital structure, what caught my eye is that this is the 3rd oiler in a week to have announcements based on oil & gas in Romania.
Is Romania particularly renowned for O&G, or is this a newish, under explored frontier?
ADX signs seismic acquisition contract for Romanian Permit
ADX Energy announce that a contract for acquisition of 2D and 3D seismic has been signed between ADX and the Romanian company S.C. PROSPECTIUNI S.A. in relation to ADX’s Parta licence in Romania.
With the completion of this milestone ADX has secured an experienced contractor who is able to commence operations within a month after the Romanian government has ratified the already executed concession agreement.
The forward work commitment for the Parta Permit requires the acquisition of 2D and 3D seismic and the drilling of two exploration wells.
Parta Permit
A concession agreement for Parta was signed in January 2011 with NAMR (Agentia Nationala Pentru Resurse Minerale). A final ratification by the Romanian authorities has been repeatedly delayed due to changes of the Romanian government and is expected in the near future. The Parta Permit covers an area of 1,221 km² and is located in the southern Pannonian basin area of western Romania. It covers 7 excised oil and gas fields and is considered underexplored. The ongoing exploration activity on the ADX Romanian acreage has resulted in the identification of additional exploration potential. Several conventional oil and gas leads and prospects are estimated to contain a total of 112 mmbls of oil and 300 bcf of gas (recoverable mean prospective resource potential). The main target depths are relatively shallow between 800 and 2000 meters.
Romania represents an important growth opportunity in line with ADX’s ongoing strategy of focusing its resources on core areas which offer proven prospectivity, excellent fiscal terms and materiality.
Participant interests in the Parta permit exploration will be, subject to approval by the Romanian authorities, as follows;
ADX Energy Ltd 50% Operator
RAG 50%
Attachments
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Until recently these O&G fields have been in Govt. hands.
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springhill
Make the drill work for YOU
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ADX is one for oil and gas buffs to keep an eye on later in the year. Activity on the Parta Permit (Romania) has been halted due to unseasonal heavy rains and flooding.
This one is super preliminary at this point, but this is when I like to find them. Will more than likely require a cap raising at end of year or early next, but if they can keep dilution to a minimum, given they already have a few on issue (consolidate and cap raise with an attaching option if you have to!) and get 3D data and a drill in the ground, there could be plenty of upside.
Too many shares at this point, but I still like to watch these to learn traits from future events, that can applied to other stocks.
This one is super preliminary at this point, but this is when I like to find them. Will more than likely require a cap raising at end of year or early next, but if they can keep dilution to a minimum, given they already have a few on issue (consolidate and cap raise with an attaching option if you have to!) and get 3D data and a drill in the ground, there could be plenty of upside.
Too many shares at this point, but I still like to watch these to learn traits from future events, that can applied to other stocks.
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I am posting on this thread after last thread was in April 2013 ! More than 6 years. Have tipped today for August so by rule need to provide some details.
Share price dived down to 1.1 cents. Share 1.217 M, Con note @$1.2 M at 7 cents (would not happen in near future), option 39.8 m at 1.6 cents, Market Cap $14.6 M and cash in hand $3 M
The company is gearing up for a drilling programme at IM 1 well in Romania (remember beauty queen Nadia the gymnast defected from Romania
), where it will target as much as 34 Bcf of 2 C and 2 U gas resources. IM1 is a structural trap targetting multiples pay zones including established appraisal potential from historic wells in the 1980s that were tested but never produced (sounds familiar ). Purely speculative stock - DNH. DYOR
https://www.asx.com.au/asxpdf/20190729/pdf/446yjxs1bcdyc9.pdf
https://www.asx.com.au/asxpdf/20190717/pdf/446p670gmb659k.pdf - farm in prospect
Share price dived down to 1.1 cents. Share 1.217 M, Con note @$1.2 M at 7 cents (would not happen in near future), option 39.8 m at 1.6 cents, Market Cap $14.6 M and cash in hand $3 M
The company is gearing up for a drilling programme at IM 1 well in Romania (remember beauty queen Nadia the gymnast defected from Romania
), where it will target as much as 34 Bcf of 2 C and 2 U gas resources. IM1 is a structural trap targetting multiples pay zones including established appraisal potential from historic wells in the 1980s that were tested but never produced (sounds familiar ). Purely speculative stock - DNH. DYORhttps://www.asx.com.au/asxpdf/20190729/pdf/446yjxs1bcdyc9.pdf
https://www.asx.com.au/asxpdf/20190717/pdf/446p670gmb659k.pdf - farm in prospect
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ADX is at an interesting juncture with its drilling.
Volume of transaction is high. The thin shell drilling result gives either way outcome. Experts suggest the stakes are high for positive result from hydrocarbon presence.
DNH but hoping to have a win this time (just like me my lotto purchase)
Volume of transaction is high. The thin shell drilling result gives either way outcome. Experts suggest the stakes are high for positive result from hydrocarbon presence.
DNH but hoping to have a win this time
(just like me my lotto purchase)
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I forgot to attach this announcement https://www.asx.com.au/asxpdf/20190829/pdf/447zzk948l5jtm.pdf
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Good morning folks
Another one today (damn ! Why it did not happen last month or tomorrow to get my tip glowing)
https://www.asx.com.au/asxpdf/20190902/pdf/4484nh1wdr6hws.pdf
Hello @Joe Blow - with pause and ultimate halt, does it mean I have to switch my tip per the conditions of tipping ?
If so, please take ENR otherwise, staying with ADX
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ADX result will affect my tip.
Alas, was a bit late to buy as I always do with my tip, due to trading halt. But will look for opportunity today as market receives the news plus or minus.
Any way on short term it may not be welcomed due to safety reasons. But then next step comes.
Alas, was a bit late to buy as I always do with my tip, due to trading halt. But will look for opportunity today as market receives the news plus or minus.
Any way on short term it may not be welcomed due to safety reasons. But then next step comes.
greggles
I'll be back!
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ADX starting to stir with very large increases in volume over the last week. The share price is showing an uptrend.
The company has oil assets in Austria, Romania and Italy. A General Meeting Presentation released last Friday makes very interesting reading.
A recent placement and SPP was over subscribed by over 250%.
A lot of potential here, just waiting for a catalyst. Based on recent price action, someone is obviously getting very interested in ADX.
The company has oil assets in Austria, Romania and Italy. A General Meeting Presentation released last Friday makes very interesting reading.
A recent placement and SPP was over subscribed by over 250%.
A lot of potential here, just waiting for a catalyst. Based on recent price action, someone is obviously getting very interested in ADX.
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Any one is following ADX and the reason for a large volume of transaction today ?
Cheers
Cheers
Dona Ferentes
Did the Thessalonians write back?
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up 100 per cent on drill news
Welchau-1 Well Discovers Condensate Rich Gas
“The well has intersected 115 metres of condensate rich gas shows in the primary target formation at a depth close to the pre drill prognosis.”Key points:
• The Welchau-1 gas exploration well was spudded on the 24th of February using the RED Drilling & Services GmbH E200 drill rig in the ADX-AT-II exploration licence in Upper Austria.
• Operations at 6.00 pm Central European Time (CET) on the 17th of March - the well had reached total depth of 1733 metres measured depth in the 8 ½ inch hole.
• Progress since the last report on the 10th of March has been the drilling of 8 ½ inch hole from 930 metres MD to a depth of 1733 metres MD and the retrieval of 7 metres of core from the primary target formation.
• The success case forward program is to run wireline logs then undertake down hole pressure measurement, inflow testing and formation fluid sampling across the zones of interest prior to running 7 inch casing and suspending the well.
• Well results from drilling and logging to date are as follows;
- 115 metres of liquids rich gas shows intersected in the primary target “Steinalm Formation” at depth between 1452 metres and 1567 metres. The deepest gas shows were encountered in the well at a depth of 1645 metres MD.
- The Steinalm Formation intersection in the well is in line with the pre-drill prognosis providing confidence in the structural model for Welchau.
- The Steinalm Formation intersected in Welchau is the same zone that flowed condensate rich gas in the nearby Molln-1 well at a rate of 4 MMSCFPD in 1989.
- Compositional analysis from gas shows at Welchau indicates very similar condensate rich gas to the gas tested at the Molln-1 well.
- The well has encountered 380 metres of effective seal “The Lunz Formation” above the main target. Seal quality and thickness was a key risk that has been mitigated based on the results of Welchau-1.
