Proactive Investors - Run By Investors For Investors

ADX Energy awarded offshore oil permit near Italy

ADX Energy awarded offshore oil permit near Italy

ADX Energy (ASX:ADX) should trade firmer after the Italian Ministry of Industry has awarded the offshore exploration permit d 363 C.R-.AX to ADX.

The awarded permit is on trend with ADX’s offshore Tunisian Kerkouane Permit and adjacent to its previously awarded d 364 C.R-AX license.

ADX is the operator of the permit and holds a 100% interest via its fully owned Italian subsidiary.

The block is on the same structural trend as the proven onshore Cap Bon oil and gas fields in Tunisia, the Dougga West and Elissa oil prospects in the Kerkouane block, and contains the Nilde oil field.

In addition to the high prospectivity the area would also allow relatively smaller discoveries to be commercially developed.

This is due to a combination of water depths predominantly less than 100 meters and the supportive fiscal regime in Italy.

ADX is capitalised at under $7 million.


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

November 08 2016
April 28 2016
October 10 2014

Related Articles

October 24 2018
Echo recently completed a four-well workover campaign at Fraccion D, while earlier in the year four exploration wells were drilled back-to-back.
October 18 2018
If contracts can be agreed, they might result in the installation of Powerhouse’s DMG technology at multiple locations
March 02 2019
Hurricane Energy has gone from a conceptual idea to point of substantial production

© 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