ADX Energy Ltd announced the ratification of the concession agreement for ADX’s EX 10 Parta license by the Romanian Government has been published in the official Romanian Monitor. The concession agreement has therefore taken effect as of 4 December 2012.

The committed work program for the Parta Permit requires the acquisition of 2D and 3D seismic and the drilling of two exploration wells. ADX holds 50% of the license and is the operator. A contract for acquisition and processing of 2D and 3D seismic has already been signed between ADX and the Romanian company S.C. PROSPECTIUNI SA.

Geophysical operations will commence within a fortnight. Depending on weather all seismic acquisition could be completed by Q2 2013 which would allow the first exploration well to be drilled in late Q3 2013 the earliest.

The above mentioned work program activities during 2013 are fully funded.

ADX also holds 8 prospecting permits in the country at 100% and continues to evaluate their exploration potential.