“Raising funds for a good project in oil or natural gas development is not the easy part, the main issue is to offer our investors the confidence that Romania is a country that supports activities related to oil and gas, ,”  Paul Fink, technical director ADX Energy, told local Mediafax.

He added that, depending on the results of the exploration phase, ADX Energy’s expenses could go up to EUR 100 million within five years.

ADX Energy leased in 2012, from the Romanian state, the Parta perimeter in Timis county, for the exploration of oil and natural gas in Timisoara area. (source: Romania-insider.com)