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Distributed: Jan 31, 2011

ADX Energy Limited (ASX:ADX) Signs Concession Agreement For Romanian Exploration Block

WWW:www.adxenergy.com.au
(ABN) Company Overview

ADX Energy Limited (ASX:ADX)

ADX Energy Limited (ASX:ADX) Signs Concession Agreement For Romanian Exploration Block

Perth, Jan 31, 2011 (ABN Newswire) - ADX Energy Ltd (

ASX:ADX) (

PINK:ADXRF) is pleased to announce that it has signed the concession agreement with NAMR (Agentia Nationala Pentru Resurse Minerale) for the exploration block EX-10 PARTA in Romania.

ADX and its Area of Mutual Interest ("AMI") partners (ASX listed Caspian Oil & Gas Limited (

ASX:CIG) (

PINK:CPOIF) (20%) and Sibinga Petroleum Limited (20%)) participated in the 10th bidding round in 2010 and submitted bids for blocks in the Romanian Pannonian Basin. ADX is the operator and holds a 60% interest in the awarded block.

The PARTA block has an area of 1221 km2 and is located in the southern Pannonian basin area of western Romania. This prospective block has 7 oil and gas fields but is still considered underexplored based on seismically identified prospectivity.

ADX has identified on existing seismic, 12 leads and prospects which are estimated to contain a total of 47 mmbls of oil and 480 bcf of gas (recoverable mean prospective resource potential). Once the Romanian Government has ratified the concession agreement which is anticipated in May 2011, ADX will commence seismic operations.

The award of this exploration block in a competitively contested bidding round represents an important achievement in line with ADX' ongoing strategy of focusing its resources on core areas which offer proven prospectivity, materiality and potential for rapid commercialization.

For the complete ADX Energy Ltd announcement including map, please refer to the following link:

http://www.abnnewswire.net/media/en/docs/65118-ASX-ADX-526663.pdf

About ADX Energy Limited

The company's strategy is two pronged; grow the European and North African oil and gas business in order to expose shareholders to the lucrative European energy market and to promote it's existing Australian energy, gold and base metal portfolio to capitalise on the current high commodity price environment.

ADX was incorporated in 1987 in order to explore for gold and base metals in Western Australia. The company has recently diversified from its initial minerals focus to include oil and gas exploration. To that effect ADX farmed in PEL 182 into the South Australian portion of the Cooper Basin in 2005.

ADX appointed Wolfgang Zimmer, an oil and gas industry professional with over 27 years experience, as Managing Director in late 2007 to grow the company’s oil and gas business. Subsequent director and staff appointments and the establishment of a European office have boosted the depth of oil and gas experience in the company and allowed the company to expand its oil and gas activities.

Currently ADX operates permits onshore and offshore Tunisia, offshore Italy and onshore Australia and holds an interest in a non operated block in onshore Romania.

ADX is also a participant and operator of a number of AMI's (Area/s of Mutual Interest) that enable it and its partners to efficiently act upon business opportunities.

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