Welchau Play Extension acreage including a potential extension of the Welchau-1 prospect, plus coverage of the Molln-1* gas appraisal opportunity (previously outside the Company’s acreage) and the follow-up Rossberg prospect (refer to Figure 3). *The Molln-1 well tested up to 4.0 MMCFD of condensate rich gas in 1989 from a carbonate reservoir of equivalent age to that being tested at the Welchau-1 well.
ADX got Molln1 now although this well is in an environmental protected area and although ADX had already problems to drill&test Welchau 1, which was just and only near the border to the environmental protected area???
To the prevoious writers: of course that's the business modell. Oil companies are doomed to drill wells. ADX was unlucky but I appreciate their attitude that they do not give up. Giving up is no option for them. Of course I am not happy and I am criticizing like others here that their drilling success rate is not better. Drill baby drill and fingers crossed for the next well. Even this ADX dog will have it's day, sometimes in the future LOL
ADX Price at posting:
2.6¢ Sentiment: Hold Disclosure: Held
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