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ADX Energy (ASX:ADX) - Executive Chairman, Ian Tchacos - The Market Herald
Executive Chairman, Ian Tchacos
Source: The Market Herald
  • ADX Energy (ADX) has commenced contracting the necessary services to acidise and flow test the lecea Mica-1 (IMIC-1) well in onshore Romania
  • The oil and gas explorer aims to initiate flow by overcoming well bore damage which is believed to be preventing material flow from the well
  • The program will also aim to determine reservoir fluid composition and the flow capacity of the PA IV reservoir
  • ADX expects the contracting and mobilisation phase will take roughly four weeks and the program itself is expected to be nine days
  • The program will cost €230,000 (roughly A$377,724) including value-added tax and 10 per cent contingency
  • Company shares are trading flat at 0.7 cents

ADX Energy (ADX) has commenced contracting the necessary services to acidise and flow test the lecea Mica-1 (IMIC-1) well in onshore Romania.

ADX will contract and mobile the necessary acidisation equipment. This includes a coiled tubing unit, nitrogen equipment and acid in Romania to stimulate the well and test it. Acidisation is a commonly used method for such reservoirs in Romania.

The oil and gas explorer's decision to conduct acidisation and flow testing is based on downhole pressure measurements and downhole fluid sampling data, as well as data taken from drilling, rock typing analysis and data from a nearby historic well.

Pleasingly, the downhole pressure data confirmed pressure build-up to initial reservoir pressure of around 210 bars in PA IV reservoir.

The overall aim of the upcoming program is to initiate flow by overcoming well bore damage which has been interpreted to prevent material flow from the well. The program will also aim to determine reservoir fluid composition and the flow capacity of the PA IV reservoir.

The testing will concentrate on the PA IV sand which is a proven reservoir. It also has the best reserves potential of the three hydrocarbon-bearing reservoir intervals intersected in the IMIC-1 well.

ADX expects the contracting and mobilisation of equipment phase will take roughly four weeks. The program itself is expected to be nine days.

The program will cost €230,000 (roughly A$377,724) including value-added tax and 10 per cent contingency.

ADX is pleased to finally be acidising and flow testing the well as COVID-19 border closures caused delays in operations.

The produced gas will be sampled to determine the suitability of the IMIC-1 gas composition for commercial sales. Once the production testing program has been completed, the well will be shut to wait for future commercial production.

Company shares are trading flat at 0.7 cents each at 11:25 am AEST.


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