ADX Energy plans deeper gas targets at Welchau-1 and HOCH-1, with no dates set

ADX Energy has two follow-on steps planned, and neither has a stated date.

At Welchau-1, the company said on 20 July 2026 that a "deeper gas objective can be reached cost effectively by deepening" the well. The statement gave no start date, depth or cost.

At HOCH-1, ADX said on 28 August 2026 that testing of "at least two (2) deeper Hall Channel zones is planned during Phase 2" of the testing program. A workover rig is needed first to drill out a cement plug. No rig contract or date was given in the information we reviewed.

Why it matters

ADX's disclosed portfolio is mostly prospective resources, meaning estimated volumes in accumulations not yet confirmed by drilling. The latest P50 (best-estimate) figures are:

• Anshof: oil, 31.3 million barrels (September 2025); ADX's interest not disclosed
• BUCH: gas, 7.6 billion cubic feet (October 2025); 50% interest
• Carp-55: 17.4 bcf contingent and 8 bcf prospective gas (2018); 100% interest
• D363 leads 1 to 3: 13, 12 and 14 million barrels of oil (2016); 100% interest each

The Welchau-1 and HOCH-1 steps are not tied to any of these figures in the inputs. If the deeper work succeeds, it could add to what ADX can show from its wells. If it fails, the portfolio above is unchanged.

What is uncertain

Both items are undated, and the timing windows in our records are only the periods in which the statements were made. The company's 28 August update on HOCH-1 was titled "Additional Zones Flow Gas", but we have not seen the rates, depths or zones. We therefore can't say how the deeper zones compare with those already tested.

Many of the estimates above are old. Several date from 2012 to 2019, and for some assets ADX's interest is not disclosed, so the share of any result that would belong to ADX is unclear for those.

ADX also lodged director interest notices and a cleansing notice on 12 August, and an option prospectus on 4 September. We have not reviewed their contents.

The company's own disclaimer calls an investment in ADX "speculative in nature."