ADX 3.45% 8.4¢ adx energy ltd

I think that a small oil company as ADX should be able to earn...

  1. 1,532 Posts.
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    I think that a small oil company as ADX should be able to earn some money already when they get just 1 mmscf/d or 30.000 m3/d from Welchau 1.

    Of course a gas production rate of 3 mmscf/d or 100 000 m3/d and higher would be much better and would be like a little jackpot for ADX and it's shareholders.

    If the geology of the potential reservoir is as ADX published in their presentations, ADX could drill a long section in this reservoir which could deliver higher production rates. Hopefully this Steinalmkalk has good porosity, good permeability and is saturated with hydrocarbons.

    The 1989 OMV exploration well Molln 1 had a first gas production test rate of 3.5 mmscf/d.

    I just do not understand why they do not plan to keep drilling in the redish colored reservoir (like a slanted well) and want to drop again (see planned s-shaped drilling path)

    https://hotcopper.com.au/data/attachments/5679/5679984-0f65c6fb14041f8eb116aff42e1a1864.jpg



 
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