Rock Yarns: ADX Energy
In this episode, Peter chats with Ian Tchacos, executive chairman of European-focused gas producer and explorer, ADX Energy (ASX:ADX).
ADX is exploring shallow gas prospects in Austria's Vienna Basin, where it is the most active operator.
Using advanced seismic, the company has identified seven near-term drill targets in areas previously overlooked.
The initial program plans to drill three low-cost wells located close to existing pipelines.
ADX is also advancing exploration offshore Sicily, targeting shallow gas and oil near existing infrastructure.
Tune into this episode to hear what the company has been up to.
This podcast was developed in collaboration with ADX Energy, a Stockhead advertiser at the time of publishing.
The interviews and discussions in this podcast are opinions only and not financial or investment advice. Listeners should obtain independent advice based on their own circumstances before making any financial decisions.
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The Australian
11 hours ago
- The Australian
Auctus maintains ADX 30c price target
Special Report: UK-based equity markets advisory Auctus Advisors has maintained its 30c price target for ADX Energy following its exit from the June 2025 quarter with higher than expected production of 303 barrels of oil equivalent per day. Auctus maintains 30c price target as ADX exceeds production targets for Q4 FY2025 Key price short term catalyst is the expected drilling of low-risk, shallow gas targets in Upper Austria Potential large upside potential from Welchau-1 and award of Sicily Channel permit could provide further boosts This boosted revenue despite lower oil prices in June with the company flagging that it generated $3.5m in adjusted sales (including a net payment for sales during the period), an increase of 26%. Auctus said its price target, which is well above ADX Energy's (ASX:ADX) current price of ~2.9c, remained unchanged pending further updates relating to the suspended Welchau-1 test program. It remains keen on the company's planned low-risk, shallow gas drilling targeting the GOLD cluster in Upper Austria that collectively hosts 12.1 billion cubic feet of prospective gas resources. While each target in this cluster hosts relatively modest quantities of gas, they are considered to have very low geological risks and could deliver production of between 10 million and 15 million cubic feet of gas per day based on observations of nearby wells. These wells can also be brought into production quickly due to the GOLD cluster's proximity to nearby open access pipeline infrastructure, meaning that successful discoveries can make a difference to the company's bottom line without delay or fuss. ADX is searching for a farm-out partner that will help de-risk drilling and help fund costs ahead of starting drilling in late Q4 2025 or early Q1 2026. 'Our aggregate unrisked NAV for ADX's net interest (assuming a 50% working interest farm-out) in the shallow prospects is 11c per share,' Auctus noted. Listen: Ian Tchacos chats with Peter Strachan In a previous instalment of the Rock Yarns Podcast, host Peter Strachan spoke with ADX executive chairman Ian Tchacos to discuss how the company is ramping up production in Austria, attracting renewed investor interest in Europe, and advancing its shallow gas and offshore exploration plans. Oil boost Besides the gas drilling, ADX is also maturing additional, low-risk oil exploration and appraisal opportunities near the producing Anshof oil field in Austria. Further wells will help the company fill its Anshof permanent production facility, which is capable of processing up to 3000 barrels of oil per day. A further catalyst is the upcoming final award of Sicily Channel gas exploration permit offshore Italy, which Auctus expects to occur sometime this month. It expects the permit to become a new area of focus for ADX with large gas prospects identified on 2D seismic and historical wells which targeted deeper oil but had gas shows on the way down. Auctus also notes that ADX had $4.8m in cash at the end of June, which includes just two months of sales. Adding the payment of ~$700,000 for the third month that was received on July 1 suggests an adjusted cash position that's in line with its expectations. This article was developed in collaboration with ADX Energy, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
ABC News
16 hours ago
- ABC News
Italy greenlights project to build world's longest suspension bridge from mainland to Sicily
Italy has cleared the way to build the world's largest suspension bridge, which would link the mainland with Sicily. The 13.5 billion euro ($24.2 billion) infrastructure project has been long delayed by debates over its scale, earthquake threats, environmental impact, and the spectre of mafia interference. The Strait of Messina Bridge will be "the biggest infrastructure project in the West," Transport Minister Matteo Salvini told a news conference in Rome. Premier Giorgia Meloni said the bridge "will be an engineering symbol of global significance". Mr Salvini cited studies showing the project will create 120,000 jobs a year, and accelerate growth in economically lagging southern Italy, as billions more in investments are made in roads and other infrastructure projects accompanying the bridge. Preliminary work could begin between late September and early October, once Italy's court of audit signs off, with construction expected to start next year. Despite bureaucratic delays, the bridge is expected to be completed between 2032 and 2033, Mr Salvini said. The Strait of Messina Bridge has been approved and cancelled multiple times since the Italian government first solicited proposals in 1969. The Meloni administration revived the project in 2023, and this marks the furthest stage the ambitious project — first envisioned by the Romans — has ever reached. "From a technical standpoint, it's an absolutely fascinating engineering project,'' Mr Salvini said. The bridge would measure nearly 3.7 kilometres, with the suspended span reaching 3.3 kilometres. That would surpass Türkiye's Çanakkale Bridge, currently the longest, by 1,277 metres. The Çanakkale Bridge was built in 2022, using an engineering design similar to the one devised for the Messina bridge. The design includes a wing profile and a deck shape that resembles a fighter jet fuselage with openings to allow wind to pass through the structure, according to Webuild, the industrial group awarded the project. With three car lanes in each direction flanked by a double-track railway, the bridge would have the capacity to carry 6,000 cars an hour and 200 trains a day — reducing the time to cross the strait by ferry from up to 100 minutes to 10 minutes by car. The project could provide a boost to Italy's commitment to raise defence spending to 5 per cent of GDP, as targeted by NATO. The government has indicated it would classify the bridge as defence-related, helping it to meet a 1.5 per cent security component. Italy argues the bridge would form a strategic corridor for rapid troop movements and equipment deployment to NATO's southern flanks, qualifying it as a "security-enhancing infrastructure". Mr Salvini confirmed the intention to classify the project as dual use but said it was up to Italy's defence and economic ministers. The military classification has been criticised by a group of more than 600 professors and researchers. They signed a letter noting that such a move would require additional assessments to see if it could withstand military use. Opponents also say the designation would potentially make the bridge a target. The decree that reactivated the bridge project included language giving Italy's Ministry of the Interior control over anti-mafia measures. But the country's president insisted the project remain subject to anti-mafia legislation that applies to all large-scale infrastructure projects in Italy, out of concerns the ad hoc arrangement could weaken controls. Mr Salvini pledged that keeping organised crime out of the project was a top priority, saying it would adhere to the same protocols used for the Expo 2015 World's Fair and the upcoming Milan-Cortina 2026 Winter Olympic Games. "We need to pay attention so that the entire supply chain is impermeable to bad actors,'' he said. Addressing concerns about building the bridge over the Messina fault, which triggered a deadly earthquake in 1908, Webuild has emphasised that suspension bridges are structurally less vulnerable to seismic forces. It noted that such bridges have been built in seismically active areas, including Japan, Türkiye and California. Environmental groups have lodged complaints with the European Union, citing concerns the project will impact migratory birds, noting environmental studies had not demonstrated the project is a public imperative, and any environmental damage would be offset. AP
News.com.au
16 hours ago
- News.com.au
Italy plans world's longest bridge connecting Sicily to mainland
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