ADX Energy Gets 30-Month Extension on Romanian EX-10 Parta Permit
Junior oil and gas exploration company ADX Energy announced Friday that it has signed a 30 month extension agreement with Agentia Nationala Pentru Resurse Minerale (NAMR) for the exploration of the EX-10 Parta permit, onshore Romania.
The extension will allow ADX to complete its seismic and drilling programs in the area and will enable the company to resume farmout discussions on the permit. Based on 2D seismic data acquired to date, ADX has identified several leads and three drill-ready exploration prospects within EX-10 Parta.
The Parta permit covers an area of 471 square miles and is located in the southern Pannonian basin area of western Romania. This prospective block contains seven excised oil and gas fields and is considered underexplored.
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