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ADX Provides Update on the Well Test of Sidi Dhaher-1

Source: www.gulfoilandgas.com 5/14/2012, Location: Africa

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ADX Energy Limited provides the following operational update on the well test of its Sidi Dhaher-1 oil discovery, Chorbane licence, onshore Tunisia. ADX has completed the mobilisation of the support camp to the Sidi Dhaher -1 well test site and has commenced the mobilisation of the drilling rig. Consistent with the process followed for the drilling of the Sidi Dhaher-1 well, camp mobilisation has been undertaken cautiously.

The unpredictable behavior of the local people has precluded ADX to release any reliable information on forecasts, plans and expected completion dates. Repeated disruptions to road access by a large number of local people who were demanding employment resulted in delays in mobilisation, which is now almost complete.

The local authorities in the Sfax area are supporting ADXs efforts to complete the mobilisation of the drilling rig. ADX will continue to provide updates on operational milestones as they occur. Participant interests in the Sidi Dhaher-1 well tests 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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