@car27, very good summarized and highlighted! I AM VERY HAPPY...

@car27, very good summarized and highlighted!
I AM VERY HAPPY AND LUCKY at the moment.
I think OMV cracked somehow the code already 1989 at the Molln 1 but Molln is in an environmental protected zone and at that time big OMV was not very interested in Gas.
I think ADX has cracked the code now finaly. Everything is there: the seal with Lunz, the reservoir Steinalm Formation with gas, hydrocarbon condensate , with porosity and natural fractures!, with good thickness!! hxk looks great! A high gas price and NOT stranded because this well is in the center of a biiig gas market. A very very very high probability that we will see economical flow rates. And the best: there are more geological structures in the underground which look like the same. The code is cracked finaly by ADX now after OMV did the first crack and trial so many years ago (for me it was a whole work life - but oil&gas is known that it takes sometimes decades ...)
With todays announcement ADX is no more a penny stock. At the lows ADX had a market cap like some million $ only (like 8 million$ - I do not remember) But now ADX has all the potential to become a billion $ real oil and gas company.
As a long time shareholder I was complaing too after the failures in Italy offshore, Tunesia Sidi Daher, and in Romania. But Finaly this is a very big success now and a real company maker. Congratulations to Mr Tchacos. Congratulations to Mr. Fink. (and I congratulate Mr Zimmer as well who was working with Mr Fink together at OMV and I think Mr Zimmer had this Molln well always in his mind as well ... all the 3 failures in the past had potential as well and were good suggestions. But now with Welchau, ADX had the necessary geological luck of a good and successful explorer as well) It was a very long waiting time for all of us.

from car27:

Short version/ highlights for me...



The thick intersection of Lunz Formation isexpected to provide aneffective seal for the potential hydrocarbon accumulationat Welchau. Seal quality and thickness was a key riskwhich appears to have been mitigated.

Welchau structureis an east-westtrending, asymmetric anticline as predicted by ADX in the pre-drill structural mode


Compositional analysis of gas shows encountered at Welchauindicates a verysimilarcondensate rich gas to that tested at the Molln-1 welj

Liquid rich gas shows were encountered over an interval of 115 metres in the Steinalm Formation between 1452metres and 1567metres

The cut surfaces of the core confirmed the presence of a naturalfracture system which is essential for gas production performance
The C1 to C5 ratio plots indicate the presence of permeable reservoir.

Sounds betterthan good to me!!!
And now we wait for the market reaction!!