AFTER a year of negotiations, Europe-focussed ADX Energy has finalised an agreement with the Austrian Mining Authority to become the only exploration license holder in the country’s prolific Molasse Basin and is now ready to drill.
‘Transformational’ step for the company
ADX said the licences have been offered on attractive terms including the payment of a €340,000 (A$554,000) bank guarantee to cover federal exploration licence fees and secure an initial work
First new company to enter the region in almost a century
ADX hedges bets off oil price upswing
