ADX Energy locks in January rig mobilisation for GOLD-1 drilling

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The company expects to finish building the site by the end of November, with contractor MND Drilling & Services to ... Read More The post ADX Energy locks in January rig…

ADX has locked in a January rig date for its Austrian gas prospect. Pic: Getty Images

Special Report: ADX Energy has set a January rig mobilisation date for its GOLD-1 shallow gas well as site construction advances in Upper Austria.

The company expects to finish building the site by the end of November, with contractor MND Drilling & Services to mobilise its rig on January 4, 2027.

The drilling program is scheduled for January and expected to take 14 days.

ADX Energy (ASX:ADX) operates the ADX-AT-II exploration licence and currently holds a 100% economic interest in the GOLD Cluster.

Empyrean Energy will earn a 10% economic interest in the cluster by funding 20% of GOLD-1 drilling, testing and completion costs under the signed agreement.

Several other companies are conducting due diligence on potential farm-ins that could also help fund the well.

GOLD-1 will test two sandstone reservoirs, known as A and C, in a Miocene-age submarine fan in the Hall Formation.

ADX rates the chance of technical success as high based on seismic amplitudes it interprets as indicators of gas.

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