Usually oil companies try to share exploration, drilling risks and try to create joint ventures. But in this case I think it is ok that Adx drills the oil exploration well Anshof sole risk because it is a low cost well and because Adx got enough pocket money to digest a possible duster. If Anshof hits a new oil reservoir with initial pressure, this well could have the potential to double the oil production of Adx. I suppose this prospect is too small for potential framin partners, although the participation could be done for relatively small money?
Fingers crossed, that this since more than a decade rather hapless company so far, hits real oil this time.
ADX Price at posting:
0.8¢ Sentiment: Hold Disclosure: Held
