ADX Energy Ltd has announced that the Romanian Government has ratified the concession agreement for its Parta license.

The committed work program for the Parta Permit requires the acquisition of 2D and 3D seismic and the drilling of two exploration wells. ADX holds 50% of the license and is the operator.  The remaining 8 prospecting permits are still being held by ADX at 100%.

The Parta Permit covers an area of 1,221 km2 and is located in the southern Pannonian basin area of western Romania. It covers 7 excised oil and gas fields and is considered underexplored.

The ongoing exploration activity at ADX's Romanian acreage is resulting in the identification of additional exploration potential. ADX says Romania represents an important growth opportunity in line with the company'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.