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ADX dispatches rig Anshof well flow test

ADX followers will know the extent of the company’s Anshof-3 discovery in energy-hungry Austria in a fortnight now that RED Drilling’s W-101 workover rig has been mobilised to test the six metre section of oily Eocene formation discovered in January this year. The company said it expects first oil within a week or two.

The flow test will evaluate the long-term production and economic potential of the Eocene oil formation at Anshof-3 and gather further data to assess the well’s potential.

The company said following a successful test of the 6m gross Eocene oil zone, the well is expected to be placed on an early production system utilising a rod pump. Oil can be delivered for sale by truck to a nearby oil terminal ahead of securing a production license for the entire Anshof discovery.

Testing is expected to include two flow periods and a pressure build up after shutting the well to measure pressure responses within the reservoir. Testing operations are expected to finish by the end of the month.

The initial Anshof discovery intersected three hydrocarbon bearing formations in a large, high-relief structure with potential for significant appraisal and development very close to readily-available export infrastructure. The Anshof-3 well is expected to yield a second production asset in Austria for ADX in the near future.

The well also intersected a 20m gross gas reservoir zone in a Miocene formation and will be tested after completion of the shallower Eocene oil test. It is expected these sands will contribute significantly to gas flow rates in the future according to the company.

Anshof is a large structure mapped with 3D seismic which has a vertical relief of up to 440m and extends across a total area of 24 square kilometres. Two follow-up appraisal locations have already been identified.

ADX has an 80 per cent stake in the well.

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

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