QUOTE: 7 August 2023
European Industry Partner, MND to fund the Anshof Oil Development Program
“MND also intends to finalise agreements to fund a Gas Exploration program in ADX’ ADX-AT-I licence” Deal Summary: At completion, MND Austria a.s. (MND) will pay back costs of EUR 1.335 million (A$ 2.225 million) to ADX VIE GmbH (ADX) and subsequently fund EUR 5.28 million (A$ 8.80 million) for the drilling, completion and tie-in of the Anshof-2 and Anshof-1 wells to earn a 30% economic interest in the Anshof Field Area in the ADX-AT-II license, in Upper Austria.:END QUOTE
SPEAKING IN BLACK & WHITE, IT'S ALL THERE IN THE HEADLINE.
MND is funding the Anshof Oil Development Program.
THIS INCLUDES THE DRILLING, COMPLETION & TIE-IN OF THE ANSHOF-2 AND ANSHOF-1 WELLS.
MND is doing this to earn a 30% economic interest in the Anshof Field Area in the ADX-AT-11 license in Upper Austria.
XST is already considered a partner in the project (as stated by ADX in the same Announcement) by earning a 20% economic interest (and hence rights) via participation in the successful Anshof 3 well drilled previously.
No delays, no funding or cash-flow issues, no conjecture, no need to make up misinformation with false & unpublished costing tables included, no need to disect, analyse and scrutinize each & every individual statement and/or clause published in any previous announcement on the project.
Whatever was stated there previously is now null & void - cancelled & superceded by this latest published information announcement.
XST Price at posting:
1.4¢ Sentiment: Buy Disclosure: Held
