Proactive Investors - Run By Investors For Investors

ADX Energy raises A$1m from institutional investor for Tunisian oil search

ADX Energy raises A$1m from institutional investor for Tunisian oil search

ADX Energy (ASX: ADX) has received a show of support for the company's Tunisian exploration operations, with the placement of 60 million shares at $0.017 to raise $1 million to one institutional investor.

ADX Energy recently announced an independent competent person’s review of the Dougga West Prospect in its Tunisian operated Kerkouane permit.

Perth based ISIS Petroleum Consultants have confirmed the prospective upside resource potential for the proven Upper Birsa sandstone reservoir in excess of a billion barrels and estimated the most likely OIP at 423 mmbbls.

In addition to the Dougga West prospect, the ADX operated contiguous Sicily Channel blocks Kerkouane (Tunisia) and Pantelleria (Italy) contain a portfolio of appraisal and exploration prospects.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

View full ADX profile View Profile

ADX Energy Ltd Timeline

Newswire
November 08 2016
Newswire
April 28 2016
Newswire
October 10 2014

Related Articles

1537919971_Centrica-Lynn2_opt.jpg
September 26 2018
The company expects its oil and gas exploration efforts will add to shareholder value.
oil rig
February 28 2019
Gross production might hit 45,000 barrels per day by end 2019
oil rig
February 06 2019
Zubair Corporation will pay US$5mln, paid in two tranches, to develop Ntorya

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use