ADX Energy : Romania Parta Permit Extension Release

12 January 2017

ADX Energy Ltd (ASX:ADX) advises that Romanian authorities have now ratified the work program extension for the Parta Exploration permit in Western Romania. The yet to be ratified work program extension was previously announced by ADX on the 19 June 2015. The ratification provides a further 30 months to complete the phase 1 exploration work program for the permit.

This confirmation of the license extension will allow ADX in its capacity as Operator of the permit together with its 50% local joint venture partner RAG Rohöl-Aufsuchungs Aktiengesellschaft (RAG) to complete the phase 1 work program by June 2019. The program consists of a 160 km of 2D seismic, 150 square km of 3D seismic and 2 exploration wells. The joint venture has already completed 100 km of 2D seismic and 50 square km of 3D seismic.

During the ratification process ADX and its joint venture partner RAG have been able to progress the initially difficult and slow process of land access permitting for 3D seismic acquisition. The success in permitting has been enabled through a process of local community support as well as legal proceedings in local courts to secure the joint ventures' access rights under Romanian law. The permitting process will likely be completed by the end of February 2017 which will enable ADX and its partner to commence the planning of ongoing exploration activities without land access constraints.

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