ADX Energy (ASX:ADX) has lodged a third application for new Sicily Channel acreage, adding another 517km² to its growing Italian gas position.
The new d 370 C.R.-AU application sits near ADX’s existing 346km² C.R 150.AU permit and follows two earlier applications, d 368 C.R.-AU and d 369 C.R.-AU.
Combined, the existing permit and three applications cover roughly 1,650km².
The strategy is getting regional
The key point is scale.
ADX already holds 100% of C.R 150.AU.
Now it is trying to surround that position with additional acreage across the same broader Terravecchia gas play.
A recent independent review by RISC Advisory identified the Miocene Terravecchia Formation as a valid biogenic gas play based on regional geology, historic gas shows and nearby analogue fields.
That gives ADX a geological thesis it now wants to test over a much larger footprint.
Figure 1: Shows the d 370 C.R-.AU permit application as well as the previously announced d 368 C.R.-AU and d 369-C.R.-AU application areas adjacent to ADX’ C.R 150.AU Permit with in the Terravecchia gas play in the Sicily Channel.
Why the extra acreage matters
If granted, the additional permits would give ADX more room to chase the same play across multiple targets rather than relying on one permit area.
The logic is straightforward.
More prospective acreage. More potential traps. More chances to build scale if the play works.
There is still a process to clear
The latest application has been published in Italy’s Official Hydrocarbon Bulletin.
There is now a three-month period in which competing applications can be lodged.
If no competing bid emerges, the application moves through technical and environmental review before any permit can be awarded.
What’s next
ADX will now progress all three Sicily Channel applications through the Italian permitting process.
If successful, the company would emerge with a much broader regional footprint around its existing C.R 150.AU permit.
The gas play was already interesting, now ADX is trying to make it bigger.
