ADX to plough $2.2m into gas exploration in Romania
ADX to plough $2.2m into gas exploration in Romania
ASX-listed and European focussed hydrocarbon developer, ADX Energy, and its UK-based partner, Reabold Resources Plc, will commit £1.35m or AUD$2.2m in equity to ADX subsidiary, Danube Petroleum, to advance testing of the Iecea Mica-1 appraisal gas well in western Romania.
Under the agreement, Reabold will contribute 60% of the funds required in two equity tranches before the end of September, with ADX to contribute the rem...