ADX ENERGY LTD — Capital/Financing Update 2009

Mar 31, 2009

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ASX Release 1[st] April 2009

AuDAX to farm out interest in Sicily Channel Permits in the Mediterranean Sea

AuDAX Resources Ltd (ASX:ADX) is pleased to announce that it has entered into an agreement with World Energy Research , a private investment company to farm out 40% of the Sambuca prospect located within the two contiguous offshore Exploration Permits, G.R15.PU and Kerkouane. G.R15.PU, is located offshore the island of Pantelleria southwest of Sicily in Italian waters and the Kerkouane Permit is located offshore northeast Tunisia (see figure below).

World Energy Research would earn a 40% interest in the Sambuca prospect by paying 100% of the expected drilling cost of 23 Million USD.

Exploration work within the Pantelleria and Kerkouane Permits has identified a number of prospects and leads, the most prospective being Sambuca, a drill-ready prospect extending from Pantelleria west into the adjacent Kerkouane Permit across the ItalianTunisian maritime border. Sambuca appears to be one of the largest undrilled structures in the Mediterranean Sea with a total P50 unrisked recoverable resource potential of 270 million barrels of oil equivalent.

Whilst this structure is one of the standout exploration prospects in the Sicily Channel, AuDAX continues maturing the remaining prospect inventory with the aim to confirm additional drilling targets. That includes a gas condensate field which has the potential to become a producing asset following successful appraisal drilling. Based on the currently mapped prospects only, the total P50 unrisked recoverable resource could exceed one billion barrels of oil equivalent in the permits. The forward work commitment for the Kerkouane permit requires completing the tendering process for an offshore rig and receiving environmental approvals for offshore drilling.

For further details please contact:

Wolfgang Zimmer Managing Director 43 (0) 676 358 1214

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----- Start of picture text ----- Sambuca-Over thrust (17)Cap-Bon – Mare (77)North SambucaSambuca (270)Carthage (79)Menzel-Termine (57)Galliano (122)Dougga – North (70)Dougga (99)N. Zibibbo (20)Tazerka-North (24)----- End of picture text -----

Sicily Channel Prospects with P50 recoverable resources in mmboe. The total is approximately 1 billion barrels of oil equivalent . Kerkouane and Pantelleria comprise around 4,500 sqkm with only two wells drilled, one of which includes the Dougga gas condensate discovery.

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