28 mmboe is sizeable but not big enough to materially change gas market dynamics (reduce demand for ADX’s existing gas production or the significantly larger potential at Welchau). No geological read through to Welchau as it’s in a different basin. The business relevance I see is that OMV has decided Austria exploration is attractive again - and success should help being industry eyeballs to Austria. That can’t be bad for ADX.
https://jpt.spe.org/omv-makes-biggest-gas-discovery-in-40-years
Add to My Watchlist
What is My Watchlist?
