ADX imo is great short term play at these levels. Results from zone 1 of 3 are just around the corner and at these levels with the huge target they are hitting ADX and it's JV partners PAA, CAV and XST present a great high reward oil and gas play.
- 30% interest in a $20 million well which will test a structure with three potential pay zones rated as having a 50 per cent probability to contain a combined "resource potential of 270mmbbls potential
I particularly like this comment made in a recent announcement:
"In addition to confirming an optimal drilling location the new 3D seismic data set has
confirmed the structural validity of the Lambouka prospect as well as further resource upside
potential. Excellent seismic reflectivity is present at various hydrocarbon target levels not
seen previously on the 2D data which is interpreted by AuDAX as evidence of the presence
of good reservoir".
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