“The Upper Austria Portfolio provides multiple growth options for quick to commercialise Shallow Gas prospects and Anshof Near Field oil prospects as well as longer term multiple High Impact prospects”
Key points:
- Resources Update: ADX continues to renew and develop its prospect inventory. ADX has 24 drillable prospects across the ADX-AT-I and ADX-AT-II permit areas with a total aggregated
mean prospective resource estimate of 374 BCF (Pmean, Net) of gas and 31 MMBBL (Pmean, Net) of oil. Refer to Upper Austria Prospect Inventory and the Upper Austria Prospects Map. Cautionary Statement: Prospective Resources are those estimated quantities of petroleum that may potentially be recovered by the application of a future development project(s) relate to undiscovered accumulations. These estimates have both an associated risk of discovery and a
risk of development. Further exploration appraisal and evaluation is required to determine the existence of a significant quantity of potentially recoverable hydrocarbons.
- Prospect Inventory Update: The main changes to the prospect inventory since the last update in June 2023 include the addition of eight prospects and the removal of four prospects. A reconciliation of prospect volumes between June 2023 and August 2025 is shown Table 2: Upper Austria Prospect Inventory Reconciliation.
- Prospect Play Types: The prospects are categorised under five proven play types in the basin including the Shallow Gas Play, Near Field Oil Play (Anshof), Welchau Carbonate Play, SubFlysch Play and the Molasse Play.
- The Shallow Gas Play encompassing low cost, low risk, drill ready shallow gas prospects where the first GOLD-1 well is planned to be drilled in Q1 2026.
- The Near Field Oil Play (Anshof) provides the potential for accelerated, high value oil production which can be processed at the Anshof oil field’s 3,000 BPD production facility.
- The Welchau Carbonate Play incorporating the results of technical studies including the historic Molln-1 gas discovery and the Welchau-1 well has resulted in the maturation of the
slightly deeper Welchau Deep gas prosect and Rossberg oil prospect which have mean prospective resource estimates of 125.4 BCF (Pmean, Gross) and 19.6 MMBBL (Pmean, Gross) respectively.
- The Sub-Flysch Play includes a number of deeper, high impact prospects below an under explored over thrust belt which are expected to be derisked by ongoing 3D Seismic
reprocessing. Four gas condensate prosects in the play contribute a mean prospective resource estimate of 252 BCF (Pmean, Gross) to the portfolio.
- The Molasse Play includes the new highly prospective BUCH gas prospect in ADX-AT-I.
ADX Energy Ltd (ASX Code: ADX) is pleased to provide an update of its Upper Austria exploration prospect inventory (“Prospect Inventory”). This Prospect Inventory is a revision to previously announced prospect volumes by ADX, refer to ASX release ‘Upper Austria Exploration Portfolio - Resources Update’ on 22 June 2023. A reconciliation of the prospective resource estimates reported in this release against those announced on 22 June 2023 is provided in Table 2: Upper Austria Prospect Inventory Reconciliation.
The Prospect Inventory includes 24 drillable prospects across the ADX-AT-I and ADX-AT-II permits in Upper Austria grouped under five different play types. All five play types have been successful in the basin. The total aggregated mean prospective resource estimate is 374 BCF (Pmean, Net) of gas and 31 MMBBL (Pmean, Net) of oil - refer.
Summary of Prospect Inventory Update
The main changes to the prospect inventory since the last update in June 2023 are the addition of eight
prospects and the removal of four prospects, two of which have been drilled by ADX since June 2023.
The most impactful addition to the inventory for ADX in the near term is the three Shallow Gas Play prospects
in newly varied ADX-AT-II licence. The drilling of the first of three shallow gas prospects will be the GOLD-1 well in Q1 2026. Ongoing mapping work is expected to yield further Shallow Gas Play prospects in the recently varied ADX-AT-I licence areas. Refer to ASX Release ‘Upper Austrian Shallow Gas Prospect Summary’ dated 19 June 2025.
The Near Field Oil Play (Anshof) prospects contribute a total aggregated mean prospective resource of 15 MMBOE (Pmean Gross) to the Prospect Inventory. These oil prospects provide the opportunity to accelerate ADX Austrian oil production utilising the nearby Anshof field’s 3,000 bpd processing facility.
The biggest impact on resource volumes in the inventory is the removal of the Welchau prospect from the Welchau Carbonate Play. Welchau-1 was drilled in March 2024 and is no longer a prospect. The predrill best case prospective resource estimate for Welchau was 807 BCF (134 MMBOE). The classification and
quantification of drilling and testing results at Welchau-1 remain unclear. Well testing is suspended due to an
environmental objection which is yet to be determined by the State Administrative Court of Upper Austria.
Ongoing technical study work regarding Welchau-1, as well as the potential of the Welchau Carbonate play incorporating the results of Welchau-1, has resulted in the maturation of the Welchau Deep gas prospect and the Rossberg oil prospect.
Welchau Deep is considered a gas prospect due to its expected hydrocarbon charge from the same proven
migration pathways as the nearby Molln-1 gas condensate discovery. Welchau Deep can be drilled by
deepening the Welchau-1 well making it a very attractive prospect from a risk reward perspective. The Rossberg
oil prospect is on the same structural trend located to the north of Welchau-1. The mean prospective resource
estimates for Welchau Deep and Rossberg are 125.4 BCF (Pmean,Gross) and 19.6 MMBBL (Pmean, Gross)
respectively. Further resources updates in relation to the extensive and high impact Welchau Carbonate Play
are ongoing.
The Sub-Flysch Play located in the Southern part of the ADX-AT-I permit is a highly prospective, yet an under explored area below an over thrust belt which affects seismic imaging. Four deeper, high impact gas prospects in the play contribute a mean prospective resource of 252 BCF (Pmean, Gross) to the portfolio. The play is expected to be enhanced and derisked by an ongoing program of 3D Seismic reprocessing.
ADX Chief Executive, Mr Paul Fink, said: ”The Prospect Inventory update reflects data obtained from drilling
activities and our prospect maturation program utilising the extensive 3D seismic and data base available to ADX.
“In the near term, ADX exploration activities will focus on the potentially extensive, low risk Shallow Gas Play
as well as the Near Field Oil Play adjacent to the Anshof oil field and its 3,000 barrel per day processing facility.
These play types which are low risk and proximal to infrastructure provide excellent opportunities to increase
the Company’s cash flow base in the near term. ADX is currently permitting three shallow gas targets and an
Anshof near field oil target which will be drillable within the next six months.
“In the longer term, follow up high impact targets in the deeper Sub-Flysch Play, which is expected to benefit
from the current 3D seismic processing program, and follow up Welchau Carbonate Play targets such as
Welchau Deep, provide high reward opportunities in areas that are relatively under explored. These targets
which are material and held at high equity interest also provide future farmout opportunities.
“Our portfolio development activities are ongoing supported by an extensive data base and a local geotechnical team with excellent regional knowledge. We expect to be able to announce further additions to the Upper Austrian portfolio by year end.”