MCF Energy Update of Recommencement of Welchau-1 Testing

Executive Summary

• The Upper Austrian State Administrative Court has cleared ADX Energy to resume drilling and testing of the Welchau‑1 well, allowing MCF Energy’s 25% interest to proceed with Reifling Formation acid stimulation.
• The upcoming test aims to determine hydrocarbon presence and flow characteristics in the shallowest carbonate reservoir, which is interpreted to be near a light oil accumulation.
• Successful results could confirm moveable hydrocarbons and support further development of the Welchau project in Austria’s Northern Calcareous Alps fairway.

Key Details

• Legal Clearance: September 2025 court ruling permits ADX Energy (operator) to resume drilling/testing at Welchau‑1 after earlier interruption due to NGO objections.
• Well Interest: MCF Energy holds a 25% working interest; ADX Energy holds the remaining 75%.
• Target Formation: Reifling Formation – the shallowest of four carbonate reservoirs intersected by Welchau‑1.
• Testing Plan: Acid stimulation will be performed to evaluate hydrocarbon content and flow characteristics; the formation is believed to lie at or near the oil‑water contact for a light‑oil accumulation mapped ~500 m updip of the wellbore.
• Geological Context: Welchau‑1 was drilled to assess gas and condensate potential within Middle Triassic fractured carbonate sequences beneath the Triassic Lunz‑Partnach seal; continuous hydrocarbon shows were encountered in the fractured carbonate interval.
• Project Location: Northern Calcareous Alps hydrocarbon fairway, Austria.
• Objective: Confirm presence of moveable hydrocarbons and quantify flow rates to inform future development decisions for the Welchau project.

Notable Quotes

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