News: ADX Adx Energy Ltd Says Unit Signed Energy Investment Agreement For Anshof Field Area

Aug 7 (Reuters) - Adx Energy Ltd (ADX) :

• UNIT SIGNED AN ENERGY INVESTMENT AGREEMENT FOR ANSHOF FIELD AREA IN ADX-AT-II LICENSE
• AGREEMENT WITH MND AUSTRIA A.S.
• AT COMPLETION, MND AUSTRIA WILL PAY BACK COSTS OF EUR 1.335 MILLION TO ADX VIE GMBH
• MND AUSTRIA A.S. BRINGS A FUNDING PACKAGE OF UP TO EUR 11.52 MILLION
• ADX INTENDS TO DRILL ANSHOF-2 APPRAISAL & DEVELOPMENT WELL DURING Q4 OF 2023
• ENCOURAGED MND INTENDS TO PARTICIPATE IN EXPLORATION DRILLING OPPORTUNITIES WITHIN ADX' EXPLORATION LICENCES
• AT COMPLETION OF TRANSACTION, ADX WILL REMAIN OPERATOR AND RETAIN A 50% ECONOMIC INTEREST IN ANSHOF FIELD AREA
• MND AND ADX HAVE AGREED TO CONCLUDE FURTHER GAS EXPLORATION INVESTMENT IN AN AREA WITHIN ADX-AT-I LICENCE
• INTENDED THAT A PERMANENT FACILITY WILL BE INSTALLED AT ANSHOF