Auctus puts ADX Energy in the limelight as growth catalysts line up

• Q3 production increased 24% to 243 boe/day, with Vienna Basin workovers commencing in late October forecast to add a further 100 boe/day, approximately 60% gas
• Higher gas prices and increased production could provide further revenue uplift in Q4
• Key operational milestones ahead, with HOCH-1 Phase 2 testing scheduled for December and GOLD-1 gas well drill site construction commencing in November

Special Report: Auctus Advisors has outlined several upcoming milestones that could deliver an immediate gain in cashflow near term production growth for ADX Energy if they prove successful.

First up are additional well work at the company’s producing operations in the Vienna Basin that are scheduled to start at the end of October.

The well work could increase output from the Vienna Basin by a further 100 barrels of oil equivalent per day by the end of 2026, with gas making up about 50-60% of the additional production.

ADX Energy (ASX:ADX) produced 242boe/d during Q3 2026, up 24% on the second quarter due to previous successful Vienna Basin workovers.

During the last quarter two wells were already re-perforated in new reservoir intervals, adding 24 barrels of oil per day and gas equivalent to 52boe/d.

In December, the company is scheduled to start Phase 2 testing of its HOCH-1 well in the ADX-AT-I exploration licence in Upper Austria to further assess its commerciality.

This test will focus on horizon 4 (zone 6), which appears to be more extensive and productive than initially expected based on new seismic.

 GOLD-1, the second of three shallow gas prospects that the company will test in ADX-AT-II, is expected to spud in December 2026 or January 2027.

Should this well be successful, its location just 300m from an existing pipeline could support rapid development.

Auctus, which has maintained its 16c price target for the company, adds that it expects a further farm-down ahead of drilling on top of the existing 10% farm-in by Empyrean Energy.

The company is also expecting to release an updated gas resources statement before the end of 2026 that will include gas volumes for the FUCHS and SAND prospects and revised estimates for BUCH.

Rising gas prices and additional production are also expected to deliver a positive outcome for ADX.

In Q3 2026, the company’s realised gas prices rose 10% on the previous quarter to US$17.6 per thousand cubic feet.

Natural gas prices have since risen to about US$30.8/Mcf, which Auctus expects to have a material positive impact on revenue in Q4 2026.

Other catalysts

Looking further down the track, ADX plans to drill the PERG-1 oil exploration well in 2027.

Auctus notes the well can be brought into production immediately through long-term testing in the event of success.

PERG-1 is near the company’s producing Anshof field and has an estimated mean prospective resource of 6.5 million barrels.

The company also flagged that Italy could improve the regulatory environment for oil, as it has done for gas.

Should this be confirmed, it could be material as its Sicily Channel licences host a large contingent oil resource.

This article was developed in collaboration with ADX Energy, a Stockhead advertiser at the time of publishing. 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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