The "punters" do not seem to like the results, going by the...

The "punters" do not seem to like the results, going by the share price reaction.

BUT

I see
increased oil flow cashflow/ profit from this latest well


I like

The ANS-2A well has encountered a 6.5 m net vertical oil column in high quality Eocene aged sandstonereservoirs within a 10 m net sand
The oil net reservoir intersection at ANS-2A is approximately 3 times thatof Anshof-3 with approximately 20% higher porosity and permeability
The well is expected to make a significant contribution toADX’ oil production and cashflow within a few weeks
Pressure data recovered from ANS-2A and the producing Anshof-3 well confirms a continuous oil pool
The well willbe suspended as a production well and the RED E-202 rig will be demobilised to the Lichtenberg-1 gasexploration well location
Completionoperations on the ANS-2A well are expected to commence in early October
Completion operations will be undertaken using a smaller and cheaper work over rig which is currently operatingin ADX’ Vienna Basin Fields
The work over rigwill then be demobilised to the Welchau-1 gas liquids discovery well location to commence planned well work
ADX and its partners will benefit from operational synergies acrossour appraisal, exploration and testing programs in Austria


The takeway messages for me
11 days from drill start to result announcement,
Only a couple of weeks till this well is income producing
ADX (and partners) would be achieving cost and time savings by moving drilling equipment and manpower straight from one job to the next unlike many other companies that seem to take years just to get a permit to drill one well let alone start production.