ADX Plans New Seismic Data Acquisition in Romania
ADX Energy announced that the acquisition of additional 2D and 3D seismic data in its EX-10 Parta license in Romania is expected to start in September.
‘ADX now expects operations to start in about mid September after a number of unexpected environmental and administrative issues with local bureaucracy have been cleared,’ reads a note released on Tuesday, adding that the seismic contractor Prospectiuni has already assigned a seismic acquisition crew.
The Parta Permit covers an area of 1,221 km2 and is located in the southern Pannonian basin area of western Romania. According to the company, it also contains 7 excised oil and gas field within its perimeter and is considered underexplored.
‘The main drilling targets are situated between 800 to 2000 meters depth, whereby the main gas potential is in the shallower section,’ wrote the company in the note.
ADX Energy is an Australian Stock Exchange listed oil and gas exploration and appraisal company. It is headquartered in Perth with additional offices operating out of Vienna (Austria), Tunis (Tunisia) and Bucharest (Romania).
‘Romania represents an important growth opportunity in line with ADX’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,’ concludes the note.
ADX Energy started its seismic program in its Parta Permit in February.