ADX Energy (ASX: ADX) is an oil and gas exploration and appraisal company. ADX operates five oil and gas permits in North Africa and Europe. ADX also has gold and base metal interests in Australia held via its stake in ASX listed Riedel Resources.
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ADX Energy Ltd (ADX) is an Australian Stock Exchange (ASX) listed oil and gas exploration and appraisal company. ADX operates five oil and gas permits in North Africa and Europe, together with gold and base metal interests in Australia held via its stake in ASX listed Riedel Resources (RIE).
The company is headquartered in Perth, Western Australia with additional offices operating out of Vienna, Austria and Tunis in Tunisia.
ADX Energy’s vision is to achieve superior shareholder returns through better investment choices, by applying state of the art technology and high quality management.
ADX strives to achieve exponential growth based on a strategy of early entry to high impact exploration opportunities in proven oil and gas basins. Funding for its Tunisian drilling program in 2010 and 2011 for Lambouka and Sidi Dhaher (Lambouka-1, 30% retained interest and Sidi Dhaher, 40% retained interest) has been generated predominantly through promoted farmouts, enabling the retention of large interests in material prospects that have the potential to deliver multiple value to shareholders. The same approach is anticipated for its planned Dougga appraisal program, ongoing exploration in Tunisia and the recently acquired interests in Romania.
The company has been able to execute its strategy thereby gaining leverage from early entry to prospective acreage, adding value through technical studies or state of the art seismic and achieving farmouts to minimise the requirement for equity funding.
The geographic focus for the company’s energy appraisal and exploration activities is onshore Tunisia, offshore Tunisia, offshore Italy and Romania where there is access to good infrastructure, strong energy markets, stable governments and attractive fiscal terms.
The company’s operating philosophy is to maintain operatorship through the exploration and appraisal phase of the asset cycle to ensure appropriate influence, the ability to maintain important core skills and gain greater access to new asset opportunities.
ADX Forecast Activities
ADX is in the process of implementing a very active forward program intended to generate value for its shareholders and position the company for further growth.
Forecast Activities in 2011 are summarised as follows:
- Drill Sidi Dhaher exploration well – onshore Tunisia
- Dougga pre feasibility studies and resource review
- Drill appraisal well on Dougga gas discovery
- Test Lambouka gas discovery
- Acquire Seismic onshore Romania
Ian Tchacos - Chairman
Ian is an oil and gas professional with over 25 years international experience in corporate development and strategy, mergers and acquisitions, petroleum exploration, development and production operations, commercial negotiation, oil and gas marketing and energy finance. He has a proven management track record in a range of international oil company environments.
In his last appointment as Managing Director of Nexus Energy he was responsible for this company’s development from an onshore micro cap explorer to an ASX top 200 offshore producer and operator. Ian’s experience is ideally suited for the company’s next phase of growth.
Wolfgang Zimmer - Managing Director
Wolfgang has 30 years experience in the Oil & Gas Industry. He received his Ph.D from the University of Vienna in Geology and Petrology. His career began with Mobil Oil in Vienna where he worked for 11 years primarily in Europe and the USA in oil and gas exploration and production. In 1991 he joined OMV, the Austrian Oil Company, and fulfilled a variety of senior management roles for the next 15 years. He established OMV’s Exploration and Production business in Australia and New Zealand and was its Managing Director for 5 years. He also has significant experience in North Africa having been the director of OMV’s onshore and offshore production operations in Tunisia. Most recently he was the CEO of Grove Energy, a Canadian and UK listed oil and gas explorer which he successfully merged with another exploration company in 2007.
Paul Fink - Technical Director
Paul received an engineering degree from the Mining University of Leoben, Austria. He has 18 years of diversified oil and gas exploration and producing experience in both technical and managerial positions. Paul’s experience at OMV included exploration and producing assignments in Austria, Libya, United Kingdom, Bulgaria, Australia and Pakistan where he was the Exploration and Reservoir Manager. In 2005 Paul formed a petroleum consulting business and has worked for various companies in Romania, Poland, Kazakhstan and India. In India, as Vice President (Exploration) for Focus Energy Limited, Paul headed a highly successful exploration campaign that included the evaluation, negotiation, and acquisition of petroleum licenses and resulted in the drilling of two significant discoveries.
Andrew Childs - Non Executive Director
Andrew is Non Executive Director of Riedel Resources Limited, Managing Director of Petroleum Ventures Pty Ltd, Chairman of Australian Oil Company Ltd and Non Executive Director of Timor Oil Ltd, Orion Energy Pty Ltd and Bombora Energy Pty Ltd. Andrew is also Principal of Resource Recruitment and Managing Director of International Recruitment Services Pty Ltd.
Peter Ironside - Company Secretary
Peter has been the company secretary since March 1995 and is a chartered accountant and business consultant with over twenty years experience in the exploration and mining industry, and is a director and/or company secretary of several ASX listed companies. Peter provides commercial and financial advice to the Board, together with support in the areas of administration, corporate initiatives and capital raisings.
Suite 6, Level 2
11 Ventnor Avenue
West Perth WA 6005
Telephone: +618 9226 2822
Facsimile: +618 9226 5333
Rothsay Chartered Accountants
96 Parry St Perth WA 6000
Telephone: +61 419 201 273