ADX ENERGY LTD — AGM Information 2010

Nov 14, 2010

15 November 2010

Annual General Meeting Presentation

Attached is a copy of the presentation to shareholders for today’s Annual General Meeting at 10.30am.

A copy of this presentation will also be available on the Company’s website www.adxenergy.com.au

==> picture [172 x 58] intentionally omitted <==

Ian Tchacos Chairman +61 (8) 9226 2822

AUDACES FORTUNA JUVAT

WOLFGANG ZIMMER CORPORATE UPDATE



Introduction to ADX

Key Attributes

==> picture [478 x 352] intentionally omitted <==

Asset Summary

“Dougga Gas Appraisal” Sicily Channel Exploration Permit

==> picture [42 x 42] intentionally omitted <==

Potential for Joint “Lambouka Gas Discovery” development Sicily Channel Exploration Permit

“IPO”

“Sidi Daher Prospect” Onshore Tunisia Exploration Permit

“Mineral Assets” WA Gold and Base Metal Portfolio

“Onshore Romania” Panonnian Exploration Permit

A combination of high impact exploration and appraisal assets “Unique for a company of its size”

KEY STRATEGIES

 Early Entry to high impact exploration opportunities in proven basins

 Geographic focus on areas where;

• good access to infrastructure, markets, stable governments, attractive fiscal terms

 management has had past experience and established relationships

• Operatorship through exploration and appraisal phase

• ensure appropriate control of asset

• maintain access to core skills

• gain access to new opportunities

• Apply state of the art geo technology to ensure optimal exploration outcomes

• Secure funding for exploration drilling via farm outs

RECENT HIGHLIGHTS

• Matured Lambouka (offshore Tunisia) and Sidi Daher

• Secured funding for drilling Lambouka and Sidi Daher

• Acquired Geostreamer 3D Seismic over Sicily Channel

• Drilled the Lambouka discovery well - the first deep

• Acquired 1,221 km2 exploration permit in Pannonian

• Sold PEL 182 non-core exploration permit in Australia

==> picture [197 x 109] intentionally omitted <==

==> picture [199 x 134] intentionally omitted <==

==> picture [198 x 113] intentionally omitted <==

Proved Operator Capability:

• Leading Edge 3D technology

• Preparation to IPO the company’s AUS gold assets

• Deep Water Drilling

• Accredited Operator in Romania

FORECAST ACTIVITIES IN 2010-2011

•   

 incorporating Lambouka discovery Q4 2010

Demerge ADX gold and base metal assets via IPO Q4 2010 Drill Sidi Daher exploration well - onshore Tunisia Q4 2010

Dougga and Lambouka Appraisal Program Q3 2011







Acquire Seismic onshore Romania Q3 2011

PORTFOLIO FUNDING ALTERNATIVES

 Dougga Farmin Opportunity – Offshore Tunisia (60% interest)

 Lambouka Farmin Opportunity – Offshore Tunisia (30% interest)

 Sidi Daher Farmin Opportunity – Onshore Tunisia (50% interest)

 Romanian Farmin Opportunity – Panonnian Basin (60% interest)

 Gold and Base Metal Asset IPO

RIEDEL IPO

GOLD ASSET UPDATE

Gold and Base Metal Assets

Asset Highlights

 Quality projects in prospective areas of

 Existing Resources 400,000+ oz Gold

 Drill Ready – Au, Cu-Au & Ni targets on

 Significant “blue sky” on project area

 Aggressive exploration planned with

==> picture [380 x 404] intentionally omitted <==

“IPO underway since Friday”

Gold and Base Metal Assets

PROJECT LOCATIONS

 Core :

==> picture [39 x 16] intentionally omitted <==

----- Start of picture text -----

Broome
.
----- End of picture text -----

• Marymia – 90% Cu, Au & Ni

• Millrose – 100% Au

• Mt Webb – 100% Cu-Au

• Cheritons – 100% Ni & Au

 Additional :

• Bronzewing South/Kara JV - Au

• Charteris Creek – 100% Au & base metals

• Telfer – 100% Cu-Au

• Royalties & Free Carried Interest

==> picture [146 x 20] intentionally omitted <==

----- Start of picture text -----

Exmouth Charteris
.
----- End of picture text -----

==> picture [280 x 122] intentionally omitted <==

----- Start of picture text -----

Mt Webb
Carnarvon
.
Mary Mia Warburton
Wiluna .
. Millrose
West Yandal Bronzewing Sth/
Kara
----- End of picture text -----

==> picture [208 x 78] intentionally omitted <==

----- Start of picture text -----

Porphyry
Kalgoorlie
Dulcie .
Cheritons Find
Cheritons
.
----- End of picture text -----

GOLD AND BASE METAL ASSETS IPO DETAILS





• 



GOLD AND BASE METAL ASSETS IPO DETAILS

.

IPO Timetable

Event	Date
Lodgement of Prospectus with ASIC	12 November 2010
Exposure period ends	5:00pm 19 November 2010
Record Date	17 November 2010
Priority Offer and Public Offer Opening Date	22 November 2010
Priority Offer Closing Date	8 December 2010
Public Offer Closing Date	10 December 2010
Allotment of Shares	20 December 2010
Dispatch of holding statements	22 December 2010
Expected date for listing on ASX	23 December 2010

Paul Fink

ENERGY ASSET UPDATE

1. Offshore Sicily Channel (Italy & Tunisia) 2. Onshore Tunisia

3. Onshore Romania

TUNISIA & ITALY ASSETS: ACTIVITIES IN 2010

Drill first Chorbane area Drilled first deep water well well since 20 years in Q4 in Tunisia in Q3 2010 2010 (Lambouka-1)

Shot 770 km[2] Dual Sensor 3D seismic in Q2 2010

==> picture [80 x 15] intentionally omitted <==

----- Start of picture text -----

Lambouka
----- End of picture text -----

==> picture [42 x 20] intentionally omitted <==

----- Start of picture text -----

Dougga
----- End of picture text -----

DOUGGA AND LAMBOUKA AREA OVERVIEW

==> picture [694 x 408] intentionally omitted <==

----- Start of picture text -----

ADX - 3D
Location Map ±
Lambouka-1
----- End of picture text -----

THE LAMBOUKA – DOUGGA HUB POTENTIAL

”A large Gas Condensate Resource close to markets”

==> picture [519 x 372] intentionally omitted <==

----- Start of picture text -----

Lambouka
Dougga
----- End of picture text -----

==> picture [720 x 540] intentionally omitted <==

----- Start of picture text -----

THE LAMBOUKA – DOUGGA HUB POTENTIAL
”A large Gas Condensate Resource close to markets”
•
Close to shore
•
Dougga Close to
infrastructure
Dougga
•
Lambouka Close to high
North
price local &
European markets
•
Close by tie – in
opportunities
covered by 3D
----- End of picture text -----

THE LAMBOUKA – DOUGGA HUB POTENTIAL

”A large Gas Condensate Resource close to markets”

==> picture [23 x 41] intentionally omitted <==

==> picture [29 x 52] intentionally omitted <==

==> picture [506 x 261] intentionally omitted <==

DOUGGA GAS CONDENSATE APPRAISAL PROJECT: ADX - OPERATOR (60%)

==> picture [19 x 45] intentionally omitted <==

----- Start of picture text -----

±
----- End of picture text -----

6 Asset Highlights

==> picture [274 x 368] intentionally omitted <==

----- Start of picture text -----

Lambouka
Dougga Field
DOUGGA WEST DOUGGA
----- End of picture text -----

• Discovered gas resource with high liquids content

• Independently assessed volume of audited mean

• Revisiting resource assessment and commerciality

• Located in politically stable, pro-development

• Proximal to onshore, strong market and pricing

• Follow up potential defined on recent 3D seismic

“Commerciality enhanced by Lambouka discovery”

• Potential to incorporate Lambouka discovery

DOUGGA GAS CONDENSATE APPRAISAL (continued)

Dougga Prefeasibility Review













==> picture [357 x 332] intentionally omitted <==

----- Start of picture text -----

Dougga-1
untapped up dip
potential
Proven gas column
----- End of picture text -----

3 D Seismic Section showing approx 300 m up dip potential

LAMBOUKA GAS DISCOVERY - Preliminary Assessment - ADX operated

==> picture [164 x 193] intentionally omitted <==

==> picture [519 x 365] intentionally omitted <==

----- Start of picture text -----

southwest
northeast Lambouka-1
Quick Look Petrophysics
1 km
Hydrocarbon bearing reservoir layers
----- End of picture text -----

LAMBOUKA GAS DISCOVERY - Preliminary Assessment



 Gas chromatography data acquired during the Lambouka #1 drilling campaign; and Dougga Prefeasibility Review Revised Volumetrics based on new 3D seismic  An updated 3D seismic interpretation incorporating data acquired during the drilling Revised Reservoir Enginnering Modelling Development Engineering Surface and Sub of the Lambouka #1 well. Surface review Economics and Commercial Review

Dougga 2 Drilling and testing appraisal

program ADX estimates of recoverable resources* at Lambouka

DOUGGA AND LAMBOUKA GAS DISCOVERIES

Combined Resource Potential – Dougga and Lambouka

==> picture [342 x 318] intentionally omitted <==

----- Start of picture text -----

Mean Liquids Resources
(MMBBLS)
----- End of picture text -----

“Significant potential Gas and Liquids resource with material upside upon further appraisal”

CHORBANE EXPLORATION – ADX OPERATED

==> picture [300 x 425] intentionally omitted <==

==> picture [268 x 201] intentionally omitted <==

==> picture [209 x 149] intentionally omitted <==

==> picture [154 x 153] intentionally omitted <==

CHORBANE EXPLORATION – ADX OPERATED

Asset Highlights

 Large undrilled onshore structures

 High quality seismic definition

 Ready to drill multi-target and DHI

 Located in politically stable, pro

 Short distance access to onshore

• Follow up potential in a large

==> picture [391 x 326] intentionally omitted <==

CHORBANE EXPLORATION

READY TO DRILL END 2010

==> picture [195 x 146] intentionally omitted <==

 EASY SITE ACCESS

 CLOSE TO INFRASTRUCTURE

 RIG BIDS RECEIVED

• MULTI TARGET: OIL & GAS

• DIRECT HYDROCARBON INDICATOR (DHI)

==> picture [203 x 153] intentionally omitted <==

==> picture [29 x 16] intentionally omitted <==

----- Start of picture text -----

NE
----- End of picture text -----

==> picture [192 x 147] intentionally omitted <==

DRILL HERE

Gas Plant (BG, 25km)

Sidi Daher Well Location

SIDI DAHER-1

CHORBANE EXPLORATION

READY TO DRILL END 2010

DHI (flatspot) 16 sqkm, 140 m height

• DIRECT HYDROCARBON INDICATOR (DHI)

• Conformable with structure

• At known reservoir level

Structural closure: 73sqkm, 340 m height

Metlaoui Flat Spot

NE

SIDI DAHER-1

ROMANIA PARTA BLOCK – ADX OPERATED (60%)

Asset Highlights

 Parta Block awarded at 10[th]

• Parta is a prolific exploration

• 1,200km² acreage with eleven

• Located in a European Union

• Easy access to local infrastructure

==> picture [390 x 387] intentionally omitted <==

----- Start of picture text -----

±
Legend
Parta Permit
Country Border
PartaLeads
Gas
Oil
Fields
Gas Kilometers
0 2.5 5 10 15 20
Oil
----- End of picture text -----

ROMANIA PARTA BLOCK – ADX OPERATED (60%)

Well-X STRATIGRAPHIC TRAPS UNDRILLED CLOSURE New stratigraphic play concept, with large uspide, proven in Hungary, just a few km away!

STRATEGY

==> picture [215 x 300] intentionally omitted <==

• Acquire 3D seismic (never done before here!)

• Target also stratigraphic traps with large upside potential (proven to work in area

• Low cost seismic & low cost drilling in area with access to European gas markets

CONTACT US

- wolfgang.zimmer@adx energy.com - paul.fink@adx energy.com

THANK YOU!

Dougga Dougga Lambouka North

“A TRANSFORMATIONAL OPPORTUNITY”