ADX Energy (ASX: ADX) is an oil and gas exploration and appraisal company. ADX operates five oil and gas permits in North Africa and Europe. ADX also has gold and base metal interests in Australia held via its stake in ASX listed Riedel Resources.
No additional details have yet been announced on the raising, but the company is currently preparing to shoot seismic in Romania, which will be followed by the drilling of the first well at its Parta permit in 2013.
ADX is also continuing preparations to farmout its Kerkouane Permit in the Sicily Channel offshore Tunisia and had recently renewed the Chorbane permit onshore Tunisia for another three years.
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Thursday 23rd August.
Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.