ADX Energy Ltd: Draws More Industry Investment for Gas Exploration

ADX Energy Ltd (ASX: ADX) has successfully secured an Energy Investment Agreement (EIA) through its subsidiary, ADX VIE GmbH, with MND Austria (MND). This agreement entails MND reimbursing EUR 0.45 million (AU$0.73 million) in costs to ADX VIE upon completion of the transaction. Subsequently, MND will provide EUR 4.5 million (AU$7.34 million) for exploration drilling, aiming to acquire a 50% economic interest in the Investment Area located within the ADX-AT-I license in Upper Austria.

This investment, subject to approval by Austrian authorities, targets gas exploration prospects such as LICHT and IRR, both exhibiting substantial gas resource potential. ADX will retain its role as the operator and maintain a 50% economic interest in the Investment Area post-transaction completion, while also retaining full ownership of additional adjacent gas prospects within the license.

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