ADX Energy Deepens HOCH-1 Well, Finds Additional Gas Intervals in Upper Austria

Additional Gas Intervals Extend HOCH-1 Prospect Potential

ADX Energy Ltd (ASX:ADX) has reported that its HOCH-1 shallow gas exploration well in Upper Austria has been deepened to a measured depth of 1619 metres, uncovering six additional thin gas sand intervals beneath the previously targeted Hall Formation. These sands, each approximately 1 to 2 metres thick, were identified through drilling cuttings and elevated gas concentrations in the mud, extending the prospect’s potential beyond the initial primary target zone between 1354 to 1368 metres.

The discovery adds a new layer of complexity and promise to the HOCH prospect, which already boasts a mean prospective resource estimate of 8.0 billion cubic feet (BCF) and a high case scenario of 17.3 BCF. This resource upside is significant given the well’s shallow depth and the analogue production rates of up to 9 million standard cubic feet per day (mmscf/d) observed in similar Miocene-aged Hall Formation reservoirs nearby.

Wireline logging, originally scheduled earlier, has been postponed to 8 May due to the well deepening. This program is critical to confirming reservoir quality, net thickness, and gas saturation. A quick-look log analysis is expected by 9 May. Should the logging data validate the drilling indications, ADX plans to case and complete the well, gearing up for production testing to assess flow rates and reserves potential. This step is essential to move from prospective resources to demonstrated commercial viability.

Strategic Positioning Within Upper Austria’s Shallow Gas Play

HOCH-1 is the first of three permitted shallow gas prospects ADX intends to drill in 2026 within the ADX-AT-I licence, where the company holds a 50% economic interest and operates the project. The well’s location benefits from proximity to existing pipeline infrastructure; just 2 kilometres away; facilitating potential fast-track development if commercial volumes are confirmed. Moreover, the possibility of cluster development with the nearby SCHOE prospect could optimise infrastructure costs and enhance project economics.

High European gas prices further bolster the economic outlook for the HOCH prospect. ADX estimates that an 8 BCF discovery at current prices could generate gross revenues exceeding EUR 120 million, underscoring the financial significance of these exploration results. The company’s Executive Chairman, Ian Tchacos, highlighted the economic interest of the deeper Base Hall formations encountered, noting their contribution to production and reserves in analogous wells within the basin.

Next Steps and Market Implications

The wireline logging scheduled for 8 May will be a pivotal milestone, providing the technical confirmation needed before moving to production testing. This testing phase will determine reservoir productivity and help define minimum reserve estimates, shaping the commercial case for development. ADX’s ongoing drilling program, including two additional shallow gas prospects permitted for 2026, signals a sustained commitment to unlocking value in the region.

These developments build on earlier drilling progress where the HOCH-1 well confirmed gas shows consistent with seismic targets, reinforcing the prospect’s resource potential ahead of the upcoming logging and testing phases. The combination of high-quality seismic data and encouraging drilling results positions ADX well within the competitive European gas market, which is increasingly focused on supply security amid geopolitical tensions and energy transition pressures. gas-filled sands consistent HOCH-1 shallow gas well