ADX ENERGY LTD — Capital/Financing Update 2017

May 11, 2017

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ASX Release

12 May 2017

ADX Rights Offer Opens Today

Prospectus for 1:5 Entitlements Issue Despatched to Shareholders Today

ADX Energy Ltd (ASX Code: ADX ) advises that its’ prospectus, together with a personalised application form, has been despatched to shareholders today.

The non-renounceable entitlement issue will be undertaken on the basis of one (1) New Share for every five (5) shares held by shareholders registered at close of business (Perth time) on 10 May 2017 (Record Date) at an issue price of $0.013 per New Share to raise approximately $2.4 million (Offer). Further, shareholders are being given an opportunity to apply for additional shortfall shares beyond the 1 for 5 entitlement.

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The funds raised will be used to undertake the following work programmes;

• Appraisal well planning, development planning and discussions with the Italian Regulatory Authorities in relation to the Nilde Oil Re Development Project offshore Italy;

• Geological modeling, conclusion of concept studies by TechnipFMC, well planning for a the drilling and testing of a well up dip of the Dougga 1 discovery well offshore Tunisia and discussions with the Tunisian Regulatory Authorities in relation to license renewal;

• 3D Seismic programming in the ADX operated Parta Permit onshore Romania;

• Farmout and financing discussions in relation to the Nilde and Dougga projects; and

• General and administration costs.

QA Capital Pty Limited are Lead Managers to the entitlement issue.

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Key dates for the Offer is set out below.

Key dates for the Offer is set out below.
Prospectus despatched to Shareholders &Company announces despatch has been completed	12 May 2017
Last day to give notice to extend the Closing Date	18 May 2017
Closing Date*	23 May 2017
Securities quoted on a deferred settlement basis	24 May 2017
ASX notified of under subscriptions	26 May 2017
Allotment / Issue Date	30 May 2017
Despatch of holding statements*	31 May 2017

*The dates are indicative only and the Company Reserves the right to vary the dates including the right to extend the Closing Date or to withdraw the Offer (subject to the Corporations Act 2001 (Cth) and the ASX Listing Rules).

Non-shareholders may apply for participation in the Shortfall Offer as per the Prospectus available for download at www.adxenergy.com.au or on www.asx.com.au (ASX Code: ADX ). Alternatively, potential investors can contact Tony Bonello at QA Capital Pty Limited on 02 9231 5673.

For further details please contact :

Ian Tchacos Executive Chairman +61 (08) 9381 4266

www.adxenergy.com.au

www.adxenergy.com.au