Thanks FMC,The blurb at the end of the story, albeit contributed...

Thanks FMC,

The blurb at the end of the story, albeit contributed by ADX themselves, is thought provoking. ADX has a market cap of 60 million and success at Lambouka is estimated to be worth 1.5-3 million euros (approx 2.25 - 4.5 billion AUD). ADX has 30% which equates to roughly 0.7- 1.3 billion AUD which would equate to a share price increase of 10-20 fold. Of course things are never that simple but you would think success could see the shares at $1, and on the above numbers, $2 doesn't seem impossible either,

Cheers V

"ADX Energy expects to find oil in the Mediterranean

ADX Energy is currently drilling the Lambouka prospect in the Tunisian offshore Kerkouane Exploration & Production Permit which is located in the Sicily Channel. The Lambouka prospect has prospective resources estimates of 270 (mean case) and 640 (upside case) million barrels of oil equivalent (gas and oil). in an area of 150 square kilometers. ADX Energy Ltd is the operator with 30% working interest. ADX plans to evaluate two additional prospects in Tunisia: the Sidi Daher prospect in the Chorbane Permit in the 2nd half of 2010 and an appraisal well at the Dougga gas-condensate field in the 1st half of 2011.

Experts expect shares of ADX Energy to appreciate substantially in value should one or more of its oil and gas projects be successful. The Lambouka project success case estimated value is between 1.5 and 3.0 billion Euros." (end)