interesting article highlights adx potential

Pages 173-179 shows the long term and short term potential ADX has....mention is made again of its growth into a strong, growth-orientated mid-cap company....please DYOR !!

http://www.adxenergy.com.au/documents/1329879928_February2012_ADX_Energy_ExploringtheMed.pdf


"The company has two significant growth opportunities in Tunisia, including its onshore Chorbane permit, in which it holds a 40 per cent interest and which yielded a discovery last year with a resource potential of 51 million barrels (mean). It is expected that upcoming testing will reveal between 30 and 40 per cent recovery at the site, which Tchacos says could be “transformational in terms of cash flow and materiality for the company".


"A busy year

ADX Energy is looking forward to what is likely to be a busy 2012. Tchacos says that next month the company is likely to begin testing an onshore discovery it made late last year, which could lead to a mean in place resource of close to 51 millionbarrels based on the company’s estimates.
“If testing shows that we can recover 30 to 40 per cent of that then that’s going to be transformational in terms of both cash flow and materiality,”says Tchacos. “Parallel to that we hope to start progressing with seismic studies in Romania and we hope to also be in a position where we can start farming out our offshore acerage.” Tchacos says that over the course of the next five years he would like to see the company develop a diversified production base, both from its onshore Tunisian discovery and from its developments in the Sicilian Channel. Tchacos says that moving forward the company will continue to look for early entry opportunities into new exploration areas, where it could add value from its technical and commercial experience with a much larger balance sheet behind it. ADX Energy has found itself in a healthy position, and with its sites and offices spread across the Mediterranean and Europe, the company’s plans to start the commercialising process at some of its projects will no doubt lead to its growth into a strong, growth-orientated mid-cap company".