Perth, Australia, Mar 3, 2015 - (ABN Newswire) - In accordance with the settlement reached between ADX Energy Ltd (ASX:ADX) (OTCMKTS:ADXRF) and Gulfsands Petroleum plc ("GPX") which was previously notified to the market on 4 February 2015 and on 12 February 2015, GPX has completed the final payment of US$ 254,648 to ADX.
About ADX Energy Limited:
ADX Energy Limited's (ASX:ADX) (OTCMKTS:ADXRF) strategy is two pronged; grow the European and North African oil and gas business in order to expose shareholders to the lucrative European energy market and to promote it's existing Australian energy, gold and base metal portfolio to capitalise on the current high commodity price environment.
ADX was incorporated in 1987 in order to explore for gold and base metals in Western Australia. The company has recently diversified from its initial minerals focus to include oil and gas exploration. To that effect ADX farmed in PEL 182 into the South Australian portion of the Cooper Basin in 2005.
ADX appointed Wolfgang Zimmer, an oil and gas industry professional with over 27 years experience, as Managing Director in late 2007 to grow the company’s oil and gas business. Subsequent director and staff appointments and the establishment of a European office have boosted the depth of oil and gas experience in the company and allowed the company to expand its oil and gas activities.
Currently ADX operates permits onshore and offshore Tunisia, offshore Italy and onshore Australia and holds an interest in a non operated block in onshore Romania.
ADX is also a participant and operator of a number of AMI's (Area/s of Mutual Interest) that enable it and its partners to efficiently act upon business opportunities.
Contact:
Wolfgang Zimmer
Managing Director
+61 (08) 9226 2822
Ian Tchacos
Chairman
+61 (08) 9226 2822
www.adxenergy.com.au
Source:
ADX Energy Limited
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