ADX Energy commences HOCH-1 drilling campaign in Austria. The shallow gas exploration well begins mobilisation with spud targeted for April 16, 2026, marking the first of three planned wells this year. HOCH-1 targets the Miocene Hall formation with mean prospective resources of 8.0 BCF and upside potential to 17.3 BCF. Historical nearby wells have demonstrated production rates up to 9 mmscf/d, equivalent to approximately 1,500 barrels of oil equivalent daily. The well location sits just 2 kilometres from existing pipeline infrastructure, positioning the project for rapid, low-cost development if successful. ADX Energy operates with a 50 percent economic interest. Success at HOCH-1 is expected to de-risk further exploration including follow-on wells GOLD-1 and SCHOEN-1, providing significant momentum for the company's 2026 shallow gas program.
