ADXRF - ADX Energy outlines strategic shift and growth plans at Resourcing Tomorrow 2023

(NewsDirect)

At Resourcing Tomorrow2023 in London, Paul Fink, CEO of ADX Energy, discussed thecompany's unique position in the mining-dominated event and itsextensive activities in the oil and gas sector. Australia listed ADXEnergy focuses on Austria, boasting the largest onshore oil field inCentral Europe. Fink highlighted Austria's historical significancein oil production, surpassing even the United States in the early 20thcentury.

Thecompany, benefiting from stable oil and gas prices, strategicallyshifted its investments from Tunisia and Italy to Austria, acquiringassets from RAG Exploration and Production GmbH, a gas and energystorage company. This move capitalised on Austria's stablepolitical environment and Fink’s Austrian roots, leading tosignificant production and exploration successes.

ADX Energy'scurrent projects include the Anshof oil field, with 5.2 millionbarrels certified, and the Welchau anticline, a potential major energydiscovery.

Finkoutlined future goals, including transforming ADX Energy into a $100million market cap company, leveraging certified reserves andexploration prospects.

He emphasised the discrepancy between market perception and thereal value of their assets, particularly the hands-on investment bytheir partner M&D in the Anshof oil field.

Additionally, Fink touched on thecompany's role in the green transition, with plans for energystorage leveraging Austria's reservoirs for hydrogen and syntheticfuels. This forward-thinking approach positions ADX Energy not only asa successful oil and gas producer but also as a potential key playerin future energy solutions.

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