ADX Energy (WKN: 875366): Millionenchance?????

ASX Release 27th August 2010 Lambouka‐1 Well – Interim Update Rig operations as at 0600 hrs Tunisian local time on the 26th of August were drilling ahead at a measured depth of 2,511m. Since the last operations report earlier this week, the Abiod Formation limestones which are the primary target for the Lambouka well have been encountered. The Abiod intersection was associated with some losses of circulation fluids, an increase in background gas shows and an anomalously high resistivity on the Measurement While Drilling (MWD) electric logs.

The current evaluation data is preliminary only and does not without additional information provide a reliable basis on which to interpret either reservoir quality or content. Consequently whether moveable hydrocarbon saturations are present cannot be determined until a more comprehensive suite of evaluation logs are acquired. It is intended that these wire line electric logs will be run according to the approved well plan when the total depth for the well is reached.

ADX will continue to report drilling results from the Lambouka ‐1 well as they occur. Participants in the Lambouka ‐1 well are as follows (note 1); ADX (note 2) 30% Operator Gulfsands Petroleum Plc 30% Carnavale Resources Ltd 20% XState Resources Ltd (note 3) 10% PharmAust Limited 10% Notes: 1. The respective interests in the Lambouka Prospect area in the Kerkouane Permit and the Pantelleria Licence are based on the completion of all farmin obligations.

2. ADX’ interest is held via wholly owned subsidiary Alpine Oil & Gas Pty Ltd and pending completion of the farmin obligation, Alpine will continue to hold 100% of the Pantelleria Licence. 3.

XState Resources Limited interest is held via wholly owned subsidiary Bombora Energy Limited. For further details please contact: Wolfgang Zimmer Ian Tchacos Managing Director Chairman +43 (0) 676 358 1214 +61(08)9226 2822 www.adxenergy.com.au Lambouka Prospect Summary The Lambouka prospect is located in the ADX operated Kerkouane permit offshore Tunisia. The Lambouka–1 drilling location is approximately 160km North East of Tunis in the Sicily channel.

Lambouka is a large 70 square kilometre area tilted horst block which contains three potentially hydrocarbon bearing reservoirs. The goal is to drill a safe well to a total depth of 3,000 meters and to fully evaluate the three potential hydrocarbon formation objectives for the well. All three objectives are proven and producing reservoirs in the Sicily Channel and adjacent the Gulf of Hammamet.