ADX to test Anshof-3 oil and gas discovery

European-based oil and gas producer ADX Energy is gearing up to test its recently completed Anshof-3 discovery well in Austria after earlier drilling pointed to an Eocene oil discovery and shallower Miocene gas. According to the company, the tests will be used to determine the wells potential commercial production rates using data from its production performance, reserve potential and economic feasibility.

The tests will also be used to evaluate the oil flow rate potential of the Eocene and Miocene sands and assess the continuity of the reservoirs based on pressure response and production performance.

According to ADX its impending tests, earmarked for an early March kick-off, will see the Perth-based company complete a number of operations including the perforation and testing of a 6-metre gross Eocene sandstone oil interval at a measured depth of 2302m. The initial play will be followed by the perforation and testing of a 20m gross Miocene sandstone gas interval at 800m. The sequence of operations will be concluded with the completion of the well for prospective commercial production based on the results of the test work.

ADX says its Anshof-3 well could achieve commercial production within 6 months of a successful testing program and with a black gold carrot to go after, the company could find itself with plenty of news flow in the coming months.

The company looks to be making good progress with its Austrian assets with the looming tests on Anshof-3 following the well’s recent rig release.

Previous data from electric logging indicates the well’s primary Eocene oil target has a productive zone of 2.5-4m from a gross interval of 6m. Earlier work also pointed to an interpreted gas pay zone of 14m from a 20m gross interval in the laminated Miocene reservoirs.

ADX says it will initially open its production tests of the Anshof-3 well by moving the oil into storage tanks for clean-up and then exporting it through the company’s nearby production facilities, siphoning the gas into a group of adjacent pipelines.

If ADX can punch out a clutch of successful results from the testing of its promising Anshof-3 well, the company could find itself with a string of new followers. Whatever is said about renewable energy it’s clear that Europe still has a hunger for oil and gas and with current events on the Ukrainian border heralding a potential major disruption to supply, the company’s European energy pursuit could be just what the continent needs.

Is your ASX-listed company doing something interesting? Contact: matt.birney@wanews.com.au