ADX ENERGY LTD — Capital/Financing Update 2007

Dec 27, 2007

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Enterprise Energy NL

(ABN 34 009 356 665) Business Office : Suite 2, Level 1, 80 Mount Street, North Sydney, NSW, Australia, 2060. Telephone (612) 9923 1520 Facsimile (612) 99231528 Registered Office : C/- DFK Richard Hill Chartered Accountants, Level 11, 32 Martin Place Sydney, NSW, Australia 2000.

27 December 2007 ASX Release

Australian Stock Exchange Ltd Companies Announcement Office Electronic Lodgement System

ENTERPRISE ENERGY FARMIN TO PEL 182

Further to an announcement on 22 November 2007. Enterprise Energy NL (“Enterprise”) wishes to advise that it has been unable to obtain a necessary condition precedent for the farmin agreement between both Australian Oil Company No 2 Pty Ltd (a wholly owned subsidiary of Australian Oil Company Limited – ASX Code AOC) and AuDAX Resources Limited (ASX Code ADX) with respect to PEL 182.

Consequently, Enterprise has now terminated and withdrawn from that farmin agreement.

Yours faithfully,

Dr Raymond D Shaw Chairman.