I enjoy reading Eurosceptic comments because I think he is a...

I enjoy reading Eurosceptic comments because I think he is a sharp cookie. With some points I agree, but some other points I see different and I realy hope he is wrong because I am an ADX shareholder.

Yes, I do not like this H2, CO2, geothermal greenwashing bullsh#$ neither because it is not commercial. But I think I understand that Adx needs this visionary, save the future research storyline for the journalists, for some banks and for politicians.

"they used to say in the oil business that the worst thing you could do to a good project was to drill it " Forget this saying. Based on geology, geophysics prospects, leads, targets are selected and with a certain probability the drill bit hits commercial oil or gas.

Yes, the track record of Adx is terrible. But the RAG (legacy Mobil, Shell shareholder) track record in Upper and Lower Austria is ok. Just the current shareholders of RAG (utility companies) do not like (understand?) the upstream business and sell because of strategic reasons to ADX. I am a believer in the geological understanding, in the high quality of the seismic, of the work, RAG has prepared but not drilled. I am a believer that although this are mature assets, there is still interesting potential in the Flysh for example because in the past they did not drill many Flysh wells because of drilling difficulties.

RED: there are many good, cost effective drilling contractors in Central Europe onshore. I see no problem.

Especially the reservoirs in Upper Austria are small, but RAG was well known that they were capable to earn good money even with chickensh#$.
In Lower Austria, the Vienna Basin I think there is still a exploration chance, the hope to find a bigger oil, gas reservoir.

You see I am not a very happy share holder, but there is still a chance that ADX could succeed with the farm out ideas and with the by RAG prepared ready to drill prospects.