On 17 July 2019 ADX Energy announced the completion of a farm-in agreement disclosed in April 2019 and providing for the acquisition by Australia-based Parta Energy of a 50% interest in the E X-10 Parta license in exchange of funding the first USD 1.5 million of a 3D seismic survey to be carried out during the last quarter of 2019. The deal is excluding the Parta appraisal program covered by the DEE V-19 Iecea Mare licence. ADX Energy will remain the operator of the Parta block.  The E X-10 Parta exploration permit, covering 1,004 sq km in western Romania, was awarded to ADX Energy and partner RAG in December 2012 for a three-year initial period. The contract was extended until June 2019 to allow the completion of the phase one of the work program including a combined 2D/3D seismic survey. In June 2019 ADX Energy was granted a further extension of phase one based on a work program of 100 sq km of 3D seismic, 60 km of 2D seismic and two exploration wells. ADX became the sole rightholder of the permit in March 2019 when RAG sold its 50% interest.  Interest in the E X-10 Parta permit is held solely by ADX Energy Panonia Srl. ADX Energy Panonia is 100% held by Danube Petroleum which belongs to ADX Energy (62.5%) and Reabold Resources (37.5%).
ADX has finalised its farm-in agreement (see DEA 8 Apr â19) with Australian Parta Energy for a 50% stake in the 1,104-sq km Parta (E X-10) permit in the Banat sub-basin, in exchange for funding the first USD 1.5 million of a 100-sq km 3D seismic campaign planned in the N. part of the block in Nov â19. The farm-in will exclude the Parta appraisal programme area which includes the Iecea Mare lease.