Ann: Operations Update - Appraisal, Exploration & Testing Program, page-5

"appraisal, exploration and testing programme on ADX-AT-I and ADX-AT-II exploration licences in Upper Austria"

"programme includes drilling of the Anshof-2A side track well within the Anshof field area in the ADX-AT-II licence"

"expected to commence in early September 2024"

"Anshof-2A is planned as a producer and is expected to take approximately 14 days to drill in preparation for testing and tie-in"

"recently installed Anshof permanent production facility is currently processing oil from the Anshof-3 well"

"will be drilling a gas exploration well in the MND Investment Area within the ADX-AT-I licence"

"expected to commence in early October 2024"

"drilling and environmental permitting is completed for the LICHT-1 prospect"

"IRR-1 prospect is expected to be permitted by mid August 2024"

"ADX and partner MND Austria will finalise their preferred drilling prospect early next month"

"both prospects offer significant resource potential"

"covered by high quality 3D seismic and proximal to gas infrastructure"

"MND will fund the first EUR 4.5 million of well costs to earn a 50% economic interest in the MND Investment Area"

"preparations and permitting for Welchau-1 production testing are ongoing"

"undertaking an extended testing program during the fourth quarter of 2024"

https://oilman.beehiiv.com/p/oilman-jims-letter-july-24-2024

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