–News Direct–
At Resourcing Tomorrow 2023 in London, Paul Fink, CEO of ADX Energy, discussed the company's unique position in the mining-dominated event and its extensive activities in the oil and gas sector. Australia listed ADX Energy focuses on Austria, boasting the largest onshore oil field in Central Europe. Fink highlighted Austria's historical significance in oil production, surpassing even the United States in the early 20th century.
The company, benefiting from stable oil and gas prices, strategically shifted its investments from Tunisia and Italy to Austria, acquiring assets from RAG Exploration and Production GmbH, a gas and energy storage company. This move capitalised on Austria's stable political environment and Finks Austrian roots, leading to significant production and exploration successes.
ADX Energy's current projects include the Anshof oil field, with 5.2 million barrels certified, and the Welchau anticline, a potential major energy discovery.
Fink outlined future goals, including transforming ADX Energy into a $100 million market cap company, leveraging certified reserves and exploration prospects.
He emphasised the discrepancy between market perception and the real value of their assets, particularly the hands-on investment by their partner M&D in the Anshof oil field.
Additionally, Fink touched on the company's role in the green transition, with plans for energy storage leveraging Austria's reservoirs for hydrogen and synthetic fuels. This forward-thinking approach positions ADX Energy not only as a successful oil and gas producer but also as a potential key player in future energy solutions.
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View source version on newsdirect.com: https://newsdirect.com/news/adx-energy-outlines-strategic-shift-and-growth-plans-at-resourcing-tomorrow-2023-728108136
ADX Energy Limited
COMTEX_444880721/2655/2023-12-13T07:55:36
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