Adx Energy Ltd (AU:ADX) has released an update.
Adx Energy Ltd has been granted a gas exploration permit for the d 363C.R-.AX area in the Sicily Channel, with a potential technical resource of 369 billion cubic feet (BCF) of gas. The recent annulment of the PiTESAI plan by the Italian court may also allow for the redevelopment of the valuable Nilde Oil Field, which has a contingent resource potential of 34.1 million barrels. ADX’s Executive Chairman Ian Tchacos highlighted the permit grant as a significant positive development that showcases the company’s capabilities and the potential to reinstate valuable assets.
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