Gulfsands Petroleum plc, the oil and gas production, exploration and development company with activities in Syria, Iraq, Tunisia, Italy and the U.S.A., wish to provide the following update on the Company's activities in Tunisia.
Gulfsands is pleased to report that ADX Energy Limited, operator of the Chorbane Licence onshore Tunisia, has completed the final safety and operational audits of the drilling rig and related equipment that will be used during the upcoming production testing programme on the Sidi Dhaher No. 1 well ("SDHR-1").
Operations are now scheduled to commence on Thursday, 31st May with the drilling out of the first of the safety plugs that had been installed to secure the well. As the testing programme is taking place in a well that has previously been cased and suspended in anticipation of a subsequent production test, this will be a multi-stage operation with expected time duration of approximately three weeks.
Gulfsands has a 40% interest in the Chorbane permit and in the event of a commercial success with exploration on the Chorbane permit, Gulfsands will be entitled to become the operator of the Chorbane permit.
This release has been approved by Richard Malcolm, Chief Executive of Gulfsands Petroleum Plc who has a Bachelor of Science degree in Geology with 30 years of experience in petroleum exploration and management. Mr. Malcolm has consented to the inclusion of the technical information in this release in the form and context in which it appears.