As a result of the above arrangements ADX has secured a highly prospective drill ready exploration and appraisal acreage position proximal to infrastructure in a highly productive basin where an exploration success rate of 48% has been achieved. Drilling can commence within a short time and hydrocarbons can be developed quickly, cost effectively and with a high degree of commercial certainty.
A key benefit AGS Area is its central location in the heart of Europe where there is strong political and financial support for green energy projects such as geothermal and hydrogen storage by the European Union.
ADX has been approached by a number of interested parties and has commenced an informal farmout discussions ahead of a formal data room process planned for late January.
