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ADX Prepares to Spud Sidi Dhaher Well

Source: www.gulfoilandgas.com 7/5/2011, Location: Africa

ADX Energy Ltd is pleased to announce that preparations to spud the Sidi Dhaher exploration well are progressing according to plan. The rig mast has been erected and draw works were pinned. The Rig-up operation continues as well as the completion and fit out of the camp facilities.

The local conditions that initially delayed these activities have had no material impact on our operations and the Rig-up operation progresses as planned.

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. 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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