Reabold, the AIM investing company which focuses on investments in upstream oil and gas projects, announces that ADX Energy Ltd (“ADX”) has received a notice from Parta Energy Pty Ltd (“Parta Energy”).
A wholly-owned subsidiary of ASX listed Tamaska Oil & Gas Limited (“Tamaska”), that the board of Tamaska have decided not to proceed with the farm-in transaction relating to the EX-10 Parta licence in Western Romania pursuant to the terms of the previously announced farm-in agreement between ADX Energy Panonia Srl (“ADX Panonia”), Danube Petroleum Limited (“Danube”) and Parta Energy.
The Farm-in Agreement relates only to the Parta Exploration License, not the sole risk appraisal area which contains both the IMIC-1 discovery and the IMIC-2 target. The Company’s activity in the Iecea Mare sole risk area is ongoing and un-impacted by this development.
Reabold holds a 51% shareholding in Danube.
Further details can be viewed at: https://adx-energy.com/en/investors/asx-announcements.php.
