ADX Energy makes potential gas discovery in Romanian concession

Newsroom 28/08/2013 | 14:31

Australia’s ADX Energy, the oil and gas exploration company, said that seismic acquisitions revealed a distinctive gas anomaly in the Parta permit, in Western Romania.

The Parta concession includes 7 excised oil and gas fields within its perimeter and is considered underexplored.

“Romania represents an important growth opportunity in line with ADX’s ongoing strategy of focusing its resources on core areas which offer materiality, proven prospectivity, excellent fiscal terms and access to markets, including direct gas transmission into the European markets,” said the company in a statement.

The company expects to start exploratory drillings in this field by mid October. The concession is estimated to contain 47 million barrels of oil and 480 billion cubic feet of gas.

Ovidiu Posirca