ADX Energy Mobilizes Atwood Southern Cross Semi Sub for Drilling Offshore Tunisia

June 17, 2010

ADX Energy Ltd is pleased to announce that it has commenced the mobilisation of the Atwood Southern Cross semi submersible drilling rig to the Lambouka-1 location on the Kerkouane exploration license offshore Tunisia.

Whilst the exact duration of the rig tow is weather dependant, it is estimated that the drilling rig will arrive on location within 12 to 15 days from today.

The mobilisation of the drilling spread onto the Kerkouane exploration license, including the Southern Cross semi submersible drilling rig and all towing and supply vessels, required the recently acquired approval of the respective Tunisian Naval authority (Commission Consultative des Activities Maritimes) for maritime operations. ADX is operator for the Lambouka -1 well.

About ADX Energy Limited:

The company’s 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.

AuDAX 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.

AuDAX 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 AuDAX operates permits onshore and offshore Tunisia, offshore Italy and onshore Australia and holds an interest in a non operated block in onshore Romania.

AuDAX is also a participant and operator of a number of AMI’s (Area/s of Mutual Interest) that enable it and its partners, Nexus Energy and Kairiki Energy, to efficiently act upon business opportunities.

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Source: Abnnewswire, June 17, 2010: