ADX Energy Limited (ASX:ADX, OTC:ADXRF) has applied for two new exploration permits covering a combined 787 square kilometres in the Sicily Channel offshore Italy, potentially expanding its acreage around the company’s 100%-owned CR 150.AU permit.
The applications for the d 368 C.R.-AU and d 369 C.R.-AU permits cover 573.3 square kilometres and 213.7 square kilometres respectively and are directly adjacent to ADX’s existing acreage.
The applications extend ADX’s exposure to the Terravecchia Formation biogenic gas play, which was recently assessed by independent consultancy RISC Advisory.
RISC concluded that the Miocene-aged Terravecchia Formation represents a valid biogenic gas play based on regional geology, gas shows recorded in nearby historic wells and analogous discoveries at the onshore Lippone-Mazara gas field and offshore Argo-Cassiopea developments.
Historic wells surrounding ADX’s permit frequently recorded elevated mud gas shows in sandstone intervals within the predominantly shaley Terravecchia Formation.
The map included in ADX’s announcement shows the 2 application areas extending southeast from the company’s existing CR 150.AU permit and positioned within the broader Terravecchia gas play between Tunisia and Sicily.
Sicily Channel project
ADX’s applications were published in Italy’s Official Hydrocarbon Bulletin for July 2026, which was issued in August.
Under the permitting process, other operators will have 3 months from publication in the Official Journal of the European Union to submit competing applications for the same areas.
If no competing application is lodged, the permits will require consideration by 2 bodies within Italy’s Ministry of Environment and Energy Security — the UNMIG regional technical office and the Commission for Hydrocarbons and Mineral Resources (CIRM).
ADX’s wholly owned Italian subsidiary, Audax Energy, must also submit a request for an environmental impact assessment within 90 days of the end of the competition period.
If competing applications are received, the ministry will assess proposals against factors including exploration objectives, proposed work programs, execution timelines and the technical and financial capacity of applicants.
ADX said it would provide further updates as the application process progresses.
About ADX Energy
ADX Energy has a 100% interest in the CR 150.AU permit in the Sicily Channel offshore Italy. Its wholly owned Italian subsidiary Audax Energy is the applicant for the 2 additional exploration permits.