ADX Energy (ASX:ADX) Shares Gain: Why Is the Stock Moving Higher?

Sonal Goyal

13 November 2026 01:18 PM AEDT

ADX Energy (ASX:ADX) Shares Gain: Why Is the Stock Moving Higher?

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Key Highlights

ADX Energy shares were trading at $0.012 during the 13 November 2026 session, up 9.09%.
The MND Drilling & Services rig has been contracted to mobilise on 4 January 2027 for a 14-day GOLD-1 program.
Empyrean Energy can earn a 10% economic interest by funding 20% of GOLD-1 drilling and completion costs.

During the Trading session on 13 November 2026, ADX Energy Ltd (ASX:ADX) shares were trading at $0.012, up 9.09%, while the S&P/ASX 200 was down 0.73% at 9,079.70 at 12:39 pm AEDT. ADX is an oil and gas explorer and operator, and it holds a 100% economic interest in the GOLD Cluster Area in Upper Austria. Its latest update was an ASX release dated 12 November 2026 on the GOLD-1 shallow gas well.

Rig and drilling schedule

The MND Drilling & Services rig has been contracted to mobilise on 4 January 2027, and the drilling program is expected to take 14 days. Well site construction is expected to be completed by the end of November 2026. The GOLD-1 well will be drilled during January 2027 on the ADX-AT-II exploration licence, with the company acting as operator.

Target formation and economics

GOLD-1 will target shallow gas reservoirs in Miocene-aged sandstones of the Hall formation, which are interpreted as Basin floor submarine fan deposits. The company said the well has a high chance of technical success and that its shallow depth and proximity to pipeline infrastructure are expected to produce attractive Economics and a rapid development cycle. The GOLD prospect has a mean prospective resource of 8.3 billion cubic feet, referenced to an earlier ASX release dated 9 November 2026.

Earn-in interest for Empyrean Energy

Empyrean Energy plc can earn a 10% economic interest in the GOLD Cluster Area by funding 20% of the GOLD-1 well drilling, testing and completion costs. ADX said several other companies are at various stages of Due Diligence to earn an interest by providing funding for GOLD-1.

Sector context

Shallow gas exploration in Europe depends on access to pipeline infrastructure, local market Demand and the availability of drilling rigs. Small explorers often use farm-in arrangements to share drilling costs, which can reduce the company's share of the outcome. Gas prices and regulatory conditions in the region also influence project economics.

Risks investors are watching

Prospective resources are estimates that carry both a risk of discovery and a risk of development, and the company notes that further evaluation is required before any significant quantity can be confirmed. Drilling is scheduled for January 2027, so any delay to the rig or site work would push back results. Funding for the well depends in part on partners taking up the earn-in arrangement.

What to watch ahead

Investors will look for the completion of well site construction by the end of November 2026, the mobilisation of the rig on 4 January 2027 and the outcome of discussions with other companies considering funding the GOLD-1 well. Drilling results will be the main test of the prospect.

Final Word

ADX's latest update sets out a firm drilling timetable for GOLD-1 and a partner earn-in structure. The results of the January drilling program will determine the next stage for the prospect.

FAQs

Q: When is the GOLD-1 well scheduled to be drilled?

A: The rig is contracted to mobilise on 4 January 2027, with the drilling program expected to take 14 days.

Q: What does Empyrean Energy need to do to earn an interest?

A: Empyrean Energy can earn a 10% economic interest by funding 20% of the GOLD-1 well drilling, testing and completion costs.

Q: What formation will GOLD-1 target?

A: The well will target shallow gas reservoirs in Miocene-aged sandstones of the Hall formation.

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