31 July 2023quarterly activities report▼ Bad
June 2023 quarter cash flow: receipts A$3.32m, but heavy development and drilling-related spending left cash at A$2.055m, down from A$3.413m. Austrian bank loan facility now A$926k after repayments.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
31 July 2023quarterly activities report● Neutral
June 2023 quarter: production rose 8% to 317 BOEPD, revenue about A$3.23m, cash A$2.055m. Anshof-3 test production continues to exceed expectations. Welchau-1 drilling is now targeted for Q4 2023, later than the earlier September target.
20 July 2023investor presentation● Neutral
Noosa Market Insights investor presentation by the Executive Chairman, dated 20 July 2023. The text provided is only disclaimers and reserves definitions; no new announcement is visible.
11 July 2023admin correction● Neutral
Re-release of the A$1.5m loan note announcement correcting the maturity and option expiry dates from 11 January 2024 to 11 January 2025. All other terms are unchanged.
11 July 2023debt financing● NeutralMajor
ADX raised A$1.5m through 30 loan notes of A$50,000, 18-month term, 8% or 12% interest, with free options. Funds go to equipment for up to four Upper Austria wells and a permanent Anshof production facility. The loan notes were repaid in full in Nov 2022, so this is new borrowing.
22 June 2023resource reserve update● Neutral
Upper Austria prospective resources update dated 22 June 2023. Only disclaimers and definitions are visible; the quarterly report later cites a 340% rise in best-estimate prospective resources for appraisal and low-risk prospects, but no figures appear in this text.
12 May 2023investor presentation● Neutral
Re-release of the 12 May 2023 AGM presentation, titled as correcting production to 336 boepd. The visible text is only disclaimers and definitions, so the corrected figure cannot be confirmed here.
12 May 2023investor presentation● Neutral
Annual General Meeting presentation by the Executive Chairman dated 12 May 2023. The text provided is only disclaimers and reserves definitions; no new announcement is visible.
28 Apr 2023quarterly activities report● Neutral
March 2023 quarter: production rose 10% to 299 BOEPD, but sales revenue fell 31% to A$3.08m on lower oil and gas prices. Cash was A$3.41m. The Anshof licence was awarded and Welchau permitting targets a Q3 2023 start.
28 Apr 2023quarterly activities report● Neutral
March 2023 quarter cash flow: receipts A$3.10m, operating cash outflow A$233k, and A$388k received as MCF farm-in back-costs. Cash fell to A$3.413m from A$3.570m. The Austrian bank loan stands at A$1.224m, fully drawn, with EUR 376,667 repaid.
27 Apr 2023investor presentation● Neutral
Investor presentation by the Executive Chairman dated 27 April 2023. The text provided is only disclaimers and reserves definitions; no new announcement is visible.
18 Apr 2023drilling scheduled▲ GoodMajor
GaffneyCline's review, commissioned by MCF, supports ADX's Welchau resource view (gross unrisked gas 332/584/1,018 BCF for low/best/high). Drilling applications are submitted, rig and materials secured, and drilling is expected from September 2023 for 6-8 weeks; the well was slightly delayed.
29 Mar 2023annual report● Neutral
Corporate governance statement for 2022, current at 29 March 2023 and board-approved, setting out compliance with ASX governance recommendations. Administrative document with no new operational or financial information.
29 Mar 2023annual report● Neutral
Appendix 4G governance checklist filed with the annual report, pointing to the corporate governance statement on the website. Administrative filing with no new operational or financial information.
29 Mar 2023annual report● Neutral
Annual report for the year to 31 December 2022. The Chairman's section cites the Anshof discovery, a roughly 223% rise in 2P reserves, and the Welchau farmout. Only the opening pages are visible, so no new figures are added here.
13 Mar 2023regulatory community update▲ GoodMajor
Austria's Ministry of Finance awarded the Anshof oil field production licence, ADX 80% and operator, about a year after the Anshof-3 discovery. Test output is averaging 113 bopd, to rise to about 150 bopd in Q2 2023; Anshof-2 and Anshof-1 wells are planned from Q3 2023.
1 Mar 2023farm in farm out agreement▼ BadMajor
MCF Energy declined its option to fund a further 50% of the Welchau-1 well, so it will hold 20% and ADX 80% once MCF funds 50% of the EUR 3.81m well. ADX will seek other farm-in partners for the remaining 50%, targeting Q3 2023 drilling.
24 Feb 2023security holder rights change● Neutral
The unmarketable parcel sale facility completed: 25,509,213 shares from 1,580 holders were sold for A$193,541.56 (about 0.76 cents each). Proceeds are being distributed to those holders, leaving fewer small holdings on the register.
1 Feb 2023investor presentation● Neutral
Investor presentation dated 31 January 2023. The text provided is only disclaimers and reserves definitions; no new announcement is visible.
31 Jan 2023quarterly activities report● Neutral
December 2022 quarter cash flow: operating cash flow A$951k on receipts of A$4.82m. Repayments of A$2.48m (mainly the loan notes) cut cash to A$3.57m from A$5.108m. Only the Austrian bank loan of A$1.185m remains, fully drawn.
31 Jan 2023quarterly activities report▲ Good
December 2022 quarter: production rose 41% to 273 BOEPD with Anshof-3 oil, revenue up 29% to about A$4.4m, and cash was A$3.57m. Loan notes were fully repaid. Welchau long-lead items and drill site secured; permitting continues.
23 Jan 2023regulatory community update● Neutral
The Chairman responded to Austrian media coverage and local community concern about Welchau, saying some reports were misleading. ADX believes the permits can be obtained in four to six months. Shows local scrutiny of the drilling plan; no permit has yet been granted.
23 Jan 2023farm in farm out agreement● Neutral
Kepis & Pobe assigned the Welchau farm-in to TSXV-listed MCF Energy, which recently raised C$8.5m. The option on a further 20% was extended from 21 January to 28 February 2023, subject to MCF proving financial capability.
19 Dec 2022security holder rights change● Neutral
ADX set up a share sale facility for holdings worth under A$500 (71,428 shares or fewer at 0.7 cents), with an opt-out by 3 February 2023. The company says it will cut register administration costs.
14 Dec 2022farm in farm out completion▲ GoodMajor
Kepis & Pobe met completion conditions for the Welchau farm-in, paying EUR 197,000 pre-drill costs and a EUR 100,000 option fee. ADX also signed a land access agreement for the Welchau-1 site with the Austrian Forestry Ministry, resolving the site-access issue; permits still needed.
8 Dec 2022investor presentation● Neutral
Master Investor presentation by the Executive Chairman on 7 December 2022. The text provided is only disclaimers and reserves definitions; no new announcement is visible.
29 Nov 2022farm in farm out agreement▲ GoodMajor
Kepis & Pobe Financial Group will fund 50% of the EUR 3.81m (A$5.91m) Welchau-1 well to earn 20% of the Welchau farm-in area, with an option on a further 20% by 21 January 2023. Welchau targets 807 BCFE; this delivers the farmout funding sought.
28 Nov 2022debt financing▲ Good
ADX repaid the final A$2,187,500 of its loan notes on time, funded from Austrian oil and gas cash flows. This clears the remainder of the A$3.5m October 2019 financing used to buy the Zistersdorf and Gaiselberg fields, closing the open November 2022 maturity.
2 Nov 2022investor presentation● Neutral
Presentation at the IMARC conference on 4 November 2022 on the Vienna Basin hydrogen project. The text provided is only disclaimers and reserves definitions; no new announcement is visible.
31 Oct 2022resource reserve update▲ GoodMajor
RISC audit puts Anshof gross 2P reserves at 5.2 million barrels of oil equivalent, with NPV8 of EUR 42.3m. ADX's 80% share lifts its total Austrian 2P reserves by 239% to 5.90 MMboe. This resolves the reserves assessment awaited since the January discovery. 3P is 12.5 MMboe gross.