Roughly translated (as follows):
BUSINESS:
Gas testing drilling started Saturday morning.
The drilling rig is up - after weeks of delays and months of back and
forth, the search for natural gas begins in Molln (Kirchdorf district) on
the edge of the Kalkalpen National Park. Regular drilling operations were
scheduled to start around 6 a.m. on Saturday, February 23, 2024.
Split
In the past few days, numerous truckloads of heavy equipment have been
brought into the Jaidhaus Valley - where the nature reserve runs. The
drilling set, the drill bit including motor and drill rods with a length
of 25 meters were delivered. On Friday evening, the drilling rig was
fully assembled and ready to begin searching for natural gas.
Regular drilling operations were scheduled to start at around 6 a.m.
on Saturday and will last for several weeks.
“Operations run around the clock and every day of the week. The drilling
activity depends on the hardness of the rock but also the depth that you
want to reach. We assume that we will need around six weeks to achieve
results,” says Austrian Managing Director of ADX Energy Alan Reingruber.
ADX hopes to discover larger amounts of natural gas at depths of several
hundred meters. However, no one can currently say how large the deposit
actually is.
ADX Price at posting:
12.0¢ Sentiment: Buy Disclosure: Held
