ADX Energy Eyes Near-Term Drilling Catalyst with HOCH-1 Shallow Gas Well Mobilisation Underway

ADX Energy (ASX: ADX) has commenced mobilisation for its HOCH-1 shallow gas exploration well within the ADX-AT-I exploration licence in Upper Austria.

This marks the first of three planned wells for 2026 and a key near-term catalyst for the company's shallow gas program.

The well targets the Miocene Hall formation, with the company expecting to spud by April 16, 2026.

Rig mobilisation for the HOCH-1 well began April 10, 2026, with spud expected on April 16, 2026.

ADX Energy is the operator, holding a 50% economic interest in the prospect.

Targeting Miocene Hall Formation

The primary target for HOCH-1 is Miocene Hall formation gas sandstones, which are expected to contain biogenic gas.

Prospective resources for HOCH-1 are estimated at 8.0 BCF (mean) and 17.3 BCF (high case).

Historical nearby Hall formation wells have recorded initial production rates of up to 9 mmscf/d, equating to about 1,500 boepd.

The HOCH-1 well location is approximately 2 km from existing pipeline infrastructure, supporting rapid, low-cost development if successful.

Development options include on-site processing or tie-in to the SCHOE site for a cluster development. The well has a shallow target depth of approximately 1,145 metres true vertical depth.

2026 Shallow Gas Program Kicks Off

HOCH-1 is the first of three permitted shallow gas wells planned for 2026. ADX Energy's annual report highlighted readiness for this program as a key 2026 catalyst.

Success at HOCH-1 is expected to de-risk further shallow gas exploration in the area including follow-on wells like GOLD-1 and SCHOEN-1.

As HOCH-1 targets prospective resources, discovery and development risks persist.

Poor reservoir connectivity or the absence of an effective reservoir could limit resource conversion.

Operational execution, regulatory approvals, and commodity price fluctuations are inherent risks in exploration programs of this nature.

Shallow Gas Catalyst

ADX Energy's HOCH-1 well represents a significant near-term catalyst, initiating its 2026 shallow gas exploration program in Austria.

While proximity to infrastructure and historical well performance offer encouraging signs, successful execution and confirmation of resource potential are critical to unlocking value.