ADX Energy Ltd (ASX:ADX) ASX RELEASE ADX Energy Ltd | ABN 50 009 058 646 -Registered and Principal Office Australia Suite 14, 210 Bagot Road, Subiaco WA 6008, Australia Telephone: +61 8 9381 4266 | [email protected] | adxenergy.com.au 14 December 2021 Well Site Construction Completed and Rig Mobilisation Commences for the Anshof Exploration Well Key points: The construction of the Anshof well site has been completed in preparation for the drilling of the Anshof Prospect in the ADX-AT-II license in Upper Austria (refer to figure 1). The RED Drilling & Services GmbH (RED) E-220 rig commenced mobilisation to the Anshof well site on the 13th of December 2021. The first well that will be drilled from the Anshof well site will be from the Anshof-3 surface location. An overview of the Anshof Prospect is available in Appendix 1 at the end of this release. It includes the results of an independent prospect review undertaken by RISC Advisory Pty Ltd (“RISC”). ADX announced a farmout to ASX listed Xstate Resources Limited to fund 40% of the Anshof-3 well costs to earn a 20% participating interest in the Anshof Prospect. Refer to ASX release dated 22 November 2021. The Anshof-3 surface location is outside an area which requires additional approval by the Forestry Authority. Drilling from this location has enabled the commencement of well site construction to meet a rig slot available in December 2021. ADX Energy Ltd (ASX Code: ADX) is pleased to advise that the construction of the Anshof well site has been completed in preparation for the drilling of the Anshof prospect in the ADX-AT-II license in Upper Austria. The completion of the Anshof well site has enabled the commencement of mobilisation of RED Drilling & Services GmbH (RED) E-220 rig on the 13th of December 2021. The first Anshof Prospect exploration well will be drilled from the Anshof-3 Well surface location. The Anshof-3 Well surface location is outside an area requiring approval by the Austrian Forestry Authority. Drilling from this location has enabled the commencement of well site construction to meet the drilling rig availability during December 2021. ADX expects approval by the Forestry Authority for the two additional surface locations for drilling by year end allowing follow up appraisal and development drilling
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