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ADX Energy Spuds Sidi Dhaher Well

Source: www.gulfoilandgas.com 8/29/2011, Location: Africa

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ADX Energy Ltd is pleased to announce that the Sidi Dhaher-1 well in the Chorbane licence, onshore Tunisia, spudded at 27 August 2011.

The current operation is drilling the 16 hole. Sidi Dhaher-1 has a planned total depth of 2,168 meters and is expected to take about 33 days to drill. Additional time will be required in the event of formation testing.

The Sidi Dhaher prospect is located in the 2,428km2 large Chorbane Exploration Permit onshore central Tunisia near the port city of Sfax. It is surrounded by several producing oil fields and extensive oil and gas infrastructure. The Sidi Dhaher well is targeting an Eocene reservoir with estimated prospective resources of 175 billion cubic feet (5 billion m3) of recoverable gas and a Cretaceous reservoir with estimated prospective resources of 44 million barrels (5.9 million tons) of oil. Additional targets exist in the deeper Douleb and Bireno reservoirs that produce oil and gas in the Guebiba-El Hajeb field immediately east of the Chorbane permit. Participant interests in the Sidi Dhaher -1 well will be as follows;
ADX Energy Ltd 40% Operator
Gulfsands Petroleum Plc 40%
XState Resources Ltd 10%
Verus Investments Limited 10%

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