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ADX Energy Updates Activities in Chorbane Permit

Source: www.gulfoilandgas.com 9/22/2010, Location: Africa

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ADX Energy Ltd is pleased to announce that tenders for drilling services have been sent to contractors this week with a view to drilling the Sidi Daher prospect in December of this year.

The Sidi Daher prospect is located in the 2,428 square km large Chorbane Exploration Permit onshore central Tunisia near the port city of Sfax. It is surrounded by several producing oil fields and extensive oil & gas infrastructure. Previous exploration work in the Chorbane permit has identified a number of prospects and leads, the most prospective being a large tilted horst block (“Sidi Daher”) with multiple targets and total potential recoverable prospective resources of 80 mmbbls (ADX estimate).

Following signing of the Production Sharing Contract for the Chorbane Permit in September 2009, ADX has undertaken detailed evaluation work which led to the high ranking of the Sidi Daher prospect due to a seismic DHI (direct hydrocarbon indicator). In a conservative scenario where the reservoir is a “gas only” accumulation within the bounds of the DHI and ADX estimates that the structure at this level potentially contains 150 Bcf of recoverable gas resource (probabilistic mean case).

As previously announced ADX has secured farmouts with Gulfsands Petroleum Plc and Xstate Resources Ltd which will fund its share of drilling costs for the Sidi Daher well.

Participants in the Lambouka -1 well are as follows:
ADX 50% Operator
Gulfsands Petroleum Plc 40%
XState Resources Ltd 10%

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Related Articles: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 


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