Q2 2026 Activities Report by ADX Energy Ltd
Key points
- Shallow gas discovery at HOCH-1 well with potential production of 1000 barrels of oil equivalent net to ADX
- Significant increase in Austrian production by 35% to 285 barrels per day
- Ongoing farmout process for GOLD-1 and PERG-1 wells
- Successful seismic data acquisition in Sicily Channel
- Strong Brent oil pricing averaging US$ 104.52 per barrel
Full summary
ADX Energy Ltd (ASX: ADX) has reported significant progress in its shallow gas exploration and production activities for the quarter ended 30 June 2026. The HOCH-1 shallow gas discovery well in Upper Austria produced at a rate of 2.7 million standard cubic feet per day (or 450 barrels per day oil equivalent). Further testing of up to 5 additional zones is planned for the coming quarter. Austrian production increased by 35% to 285 barrels of oil equivalent per day. The company is also advancing its farmout process for the GOLD-1 and PERG-1 wells to co-fund drilling. In Sicily Channel, ADX has acquired additional seismic and well data from ENI, which will help define existing prospects and identify new opportunities within the permit. Brent oil pricing averaged US$ 104.52 per barrel during the quarter.
Outlook
ADX Energy Ltd anticipates substantial economic benefits from the HOCH-1 shallow gas discovery and expects to complete a farmout transaction for the GOLD-1 well in the coming quarter.
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