ADX Energy Ltd Welchau-1 Production Testing Progress Report

ADX Energy Ltd (ASX: ADX) announced that it is making significant progress in its preparations for flow testing the Welchau-1 discovery well situated within the ADX-AT-II licence in Upper Austria. With a substantial 75% economic interest in the Welchau Investment Area, encompassing the Welchau-1 discovery and additional promising prospects in the Northern Calcareous Alps, it is poised to capitalize on this unique opportunity.

Following successfully mobilizing the RED Drilling & Services W-102 workover rig and essential equipment on the 4th and 5th of November 2024, it is now fully set up at the Welchau-1 site. Surface testing materials have been efficiently transported, and the well installation has been completed, including tubing, a packer, and a perforating system. The current operations are focused on finalizing the thriving completion while simultaneously constructing robust flow testing facilities, which feature a test separator, essential pipework, and production storage tanks. The forthcoming flow testing program targets two major Triassic-Mesozoic-age reservoirs identified in the Welchau-1 well, commencing with the more profound Steinalm formation and the shallower Reifling formation. It is well-positioned to unlock this project's full potential and create significant value for its stakeholders by harnessing its expertise and resources.

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