Had to cut and paste this for you so that others can see the true farm in picture instead of your lies to people about the crazy 13million costs. I agree they are up for 20% only of the next 2 well program and this will be the last I will post about this company cause I dont' like how it doesn't have any cash left and they will need to raise but may look back in after that or maybe not
ADX Energy Ltd (ASX Code: ADX) is pleased to advise that is has signed a farm-in agreement with
Xstate Resources Limited (“Xstate”) to partially fund the drilling of the Anshof prospect in ADX-AT-II
exploration license in Upper Austria (“Farmin HOA”).
Under the terms of the Farmin HOA, Xstate will
fund 40% of the Anshof well drilling expenditure up to a cap EUR 1,800,000 million (EUR 720,000) to
earn a 20% equity interest in the Anshof Prospect Area. Xstate may elect to fund 40% of a second
well on Anshof or the Anshof Farmin Area to earn a 20% interest in the
entire Anshof Farmin Area(Second Well Funding).
Blue box is ANshof Prospect Area. Red box is the 'elect' to fund 40% of second well for entire area. They have only agreed to the blue box area by funding the first well and do not have claim to the red box area if they don't fund 40% of the second well.
(20min delay)