From my experience I can tell that there is a 99% chance ADX will get the environmental clearance within the next 10-20 days.
1. Also soon we will get rig mobilisation announcement for Anshof 2.
2. We will get funding announcement i.e. farm-in/CR news for Welchau.
3. Mid November we should hear the news of success at Anshof-2 (99% chance)
4. In December rig will mobilise towards Welchau-1 and drilling would start just before or after New Year.
5. Chance of success at Welchau-1 is 50-50 in my opinion.
6. If Welchau-1 drill finds gas then sit back and relax and wait for a takeover offer (Could be several bags)
7. If Welchau-1 is a failure our market cap should still be minimum 50 million AUD or around 13-17 cents per share due to Anshof-2 success.
That’s all just based on my research and interest in ADX. Cheers and all the best friends!
Ann: Activities Update for Giant Welchau Gas Prospect, page-9
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