ADX energy is an oil and gas company located in Perth, Australia with projects in Tunisia, Romania, and Italy. Ian Tchacos, Executive Chairman of ADX Energy, outlines the current projects and productivity of oil and gas exploration. It was announced that the company’s major projects at hand, which holds about 200 million barrels of oil and this is capable of bringing value to their shareholders.
The oil goes for 12 cents per barrel. It will be used as a developer, and it’s capable of generating over 150 million dollars yearly.
ADX energy will also be looking into bringing partners into their assets. Though the company has the physical resources (skill, capacity, knowledge, development) they are looking to strengthen their financial power to run their projects smoothly. An important factor is that they own 100 percent of the company’s assets.
Ian Tchacos also talked about the Dougga project, which is in partnership with Technip FMC. Technip FMC will be finding alternative means to develop the Dougga project. The Dougga project is capable of producing 90 million barrels of gas. The project is about 45km from shore. The vision for this project is to bring gas to Europe and also northern Africa. Most importantly, Tunisia majorly relies on gas for its power generation (about 95% of Tunisia source of power is from gas).
“In the next three years, we would like to see ourselves having production, generating a substantial cash flow, and being in development at Dougga “ Ian Tchacos stated.
For more information, visit http://www. adx-energy.com/en/home.php
About Ian Tchacos
Ian is an oil and gas professional with over 25 years international experience in corporate development and strategy, mergers and acquisitions, petroleum exploration, development and production operations, commercial negotiation, oil and gas marketing and energy finance. He has a proven management track record in a range of international oil company environments.
In his last appointment as Managing Director of Nexus Energy he was responsible for this company’s development from an onshore micro cap explorer to an ASX top 200 offshore producer and operator. Ian’s experience is ideally suited for the company’s next phase of growth.
About ADX Energy
ADX Energy Ltd (ADX) is an ASX listed oil and gas exploration and appraisal company based in Perth, Western Australia with additional offices in Vienna, Austria and Tunis in Tunisia. Incorporated in 1987 and formerly known as AuDAX Resources Ltd, the company diversified from its initial minerals focus in 2009 to include oil and gas exploration. In 2005 the company made a bold move from gold explorer into oil and gas exploration and by 2007 became fully established in the oil and gas sector.
ADX Energy’s vision is to achieve superior shareholder returns through better investment choices, by applying state of the art technology and high quality management.
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Contact Person: Katie Casella
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