Carnavale Resources Limited

ADX Energy Ltd (ASX:ADX) is pleased to announce a Sale and Purchase Agreement has been executed to buy back a 20% interest in the Lambouka Prospect Area in the Kerkouane Permit from Carnavale Resources Limited (ASX:CAV) and to cancel the option of CAV to purchase an interest in that part of the Lambouka prospect that extends into Italian waters.

ADX Energy Limited (ASX:ADX) (PINK:ADXRF) is pleased to announce that it has completed an initial evaluation of the Lambouka-1 well results and has generated a preliminary resource estimate for the Lambouka gas discovery.

ADX Energy Limited (ASX:ADX) (PINK:ADXRF) reports on activities during past week.

ADX Energy Limited (ASX:ADX) (PINK:ADXRF) is pleased to announce that the participants have agreed to the Operators proposal to suspend the Lambouka -1 discovery in a manner that is suitable for the future re-entry of the well.

ADX Energy Limited (ASX:ADX) (PINK:ADXRF) is pleased to announce hydrocarbon bearing zones have been discovered in the Lambouka-1 well. Drilling and wire line logging operations on the well have now been concluded, having reached a total measured depth of 2,786 meters.

ADX Energy Limited (ASX:ADX) (PINK:ADXRF) reports on activities during past week.

ADX Energy Limited (ASX:ADX) (PINK:ADXRF) rig operations as at 0600 hrs Tunisian local time (GMT) on the 29th of August were at a measured depth of 2,691 m.

ADX Energy Limited (ASX:ADX) (PINK:ADXRF) rig operations as at 0600 hrs Tunisian local time on the 26th of August were drilling ahead at a measured depth of 2,511m. Since the last operations report earlier this week, the Abiod Formation limestones which are the primary target for the Lambouka well have been encountered. The Abiod intersection was associated with some losses of circulation fluids, an increase in background gas shows and an anomalously high resistivity on the Measurement While Drilling (MWD) electric logs.

ADX Energy Limited (ASX:ADX) (PINK:ADXRF) reports on Lambouka-1 Well operations update.

ADX Energy Ltd (ASX:ADX) (PINK:ADXRF) advises that the Lambouka-1 well has intersected the complete Ain Grab section encountering porous reservoir sandstone as prognosed. However the section is interpreted to be water bearing based on MWD (measurement while drilling) logs. The Ain Grab was considered a secondary target in the Lambouka-1 well.