ADX ENERGY LTD — Board/Management Information 2015

Sep 27, 2015

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ASX Release

28 September 2015

Removal of MD and appointment of CEO and Executive Chairman

ADX Energy Ltd ( ASX:ADX ) hereby announces the removal of Dr Wolfgang Zimmer as Managing Director and the immediate termination of his Consultancy Agreement. Dr Wolfgang Zimmer will retain a role as a Non Executive Director.

Mr Paul Fink has been appointed as Chief Executive Officer and will assume the role of Executive Director. Mr Ian Tchacos will assume the role of Executive Chairman supporting Mr Fink to reinvigorate the Company with a view to progress its current assets, expand its portfolio and secure new sources of funding in line with a new growth strategy for the Company.

Mr Fink is a geophysicist and chartered engineer with 25 years oil industry experience in various technical and senior managerial roles in operated ventures in Eastern Europe, North Africa, West Africa the UK, Asia and Australia.

Mr Tchacos is an oil and gas professional with over 30 years experience in corporate development and strategy, mergers and acquisitions, petroleum exploration, development and production operation and energy finance. He has a proven management track record in a range of international energy company environments.

ADX has recently undertaken a significant simplification of its operating structure which will enhance efficiency, improve communication and substantially reduce administrative costs.

ADX will announce a revised growth strategy and focus which the Board believes is appropriate for the current oil price environment which provides a unique opportunity for growth.

For further details please contact :

Paul Fink	Ian Tchacos
Chief Executive Officer	Executive Chairman
+61 (08) 9226 2822	+61 (08) 9226 2822
www.adxenergy.com.au