ADX Energy Limited (ASX:ADX) Drilling Rig Arrives At Lambouka-1 Location
Perth, July 2, 2010 AEST (ABN Newswire) - ADX Energy Limited (
ASX:ADX) (PINK:ADXRF) is pleased to announce that the Southern Cross semisubmersible drilling rig has arrived at the Lambouka-1 location on the Kerkouane exploration license offshore Tunisia.
The rig mobilisation was completed slightly ahead of schedule and operations will now concentrate on anchoring the rig and preparation for the commencement of drilling. The well is expected to spud during the next week.
Participants in the Lambouka -1 well and their participating interests are as follows*: (*The respective interests in the Lambouka Prospect area in the Kerkouane Permit and the Pantelleria Licence are based on the completion of all farmin obligations.)
- ADX*: 30% Operator (*ADX interest is held via wholly owned subsidiary Alpine Oil & Gas Pty Ltd)
- Gulfsands Petroleum Plc (LON:GPX) (PINK:GFPOF): 30%
- Carnavale Resources Ltd (ASX:CAV): 20%
- Bombora Energy Limited*: 10% (*Bombora Energy Limited is in the process of being 100% acquired by ASX listed XState Resources Limited (ASX:XST).)
- PharmAust Limited (ASX:PAA): 10%
For the complete ADX Energy Limited announcement including Location Map, please view the following link:
http://www.abnnewswire.net/media/en/docs/63217-ASX-ADX-496300.pdf
About ADX Energy Limited
ADX Energy Limited's (
ASX:ADX) (OTCMKTS:ADXRF) is an Australian Stock Exchange (ASX) listed International Energy Explorer which is soon to become a Producer. The Company's Geographical focus is Onshore Europe and Offshore Mediterranean with a portfolio consisting of recently acquired Production as well as Appraisal, Development and Exploration Assets. ADX's interests are located in Romania, Italy, Tunisia and most recently Austria. The Company's immediate focus is on low cost, low risk, profitable resource commercialisation opportunities onshore and higher cost higher reward offshore projects in the longer term. The Company is headquartered in Perth, Western Australia with additional operating offices in Bucharest (Romania) and soon to be Vienna (Austria). The Company also has representative offices in Italy and Tunisia.
ADX Energy's vision is to establish a stable cash producing platform onshore Europe and develop a number of rapid resource to reserves opportunities as well as low risk exploration potential with access to infrastructure in favourable fiscal and operating environments.
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