• ADX Energy (ADX) managed to successfully navigate some heavy headwinds through what was a tough quarter for oil and gas producers
  • The oil price crash saw a sector-wide slump in share prices and profits, but ADX seems to have emerged in decent shape despite the economic turmoil
  • Even with the oil crash and a global pandemic, ADX managed to finish the quarter with a little over $3 million in the bank
  • ADX was served well by its hedging arrangements, which helped stave off the worst of the price crash damage
  • 80 per cent of the company's production is hedged above current market prices to December 2020, so ADX is well placed despite market difficulties
  • Exploration and geotechnical work is also continuing at its Austrian and Romanian projects as the company seeks to expand known reserves
  • ADX Energy is trading 16.7 per cent higher at 0.7 cents