 |
Sydney, Nov 3, 2011 (ABN Newswire) - ADX Energy Limited (
ASX:ADX) is pleased to announce that the chemical analyses, undertaken by Corelab in the UK, of the recovered well samples have confirmed the reservoir fluids to be a typical live crude oil and mud filtrate with minor amounts of water.
Preparations for selection and contracting of appropriately sized and cost effective equipment to conduct a well test program have been completed and an invitation to tender has been sent to 5 drilling service providers.
Testing of the hydrocarbon bearing zones will determine the commerciality of the discovery and confirm that oil can be produced at commercial rates.
The interpretation and integration of well results with a revised seismic interpretation is progressing well. Finalization of this work is imminent. The results of this work will be used to provide a potential resource range for the discovery.
The Sidi Dhaher discovery 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% * (LON:GPX)
XState Resources Ltd 10% * (ASX:XST)
Verus Investments Limited 10% * (ASX:VIL)
Note: The respective participant interests in the Sidi Dhaher well and the Chorbane Permit are based on the completion of all farmin obligations.
ASX:ADX) is pleased to announce that the chemical analyses, undertaken by Corelab in the UK, of the recovered well samples have confirmed the reservoir fluids to be a typical live crude oil and mud filtrate with minor amounts of water.Preparations for selection and contracting of appropriately sized and cost effective equipment to conduct a well test program have been completed and an invitation to tender has been sent to 5 drilling service providers.
Testing of the hydrocarbon bearing zones will determine the commerciality of the discovery and confirm that oil can be produced at commercial rates.
The interpretation and integration of well results with a revised seismic interpretation is progressing well. Finalization of this work is imminent. The results of this work will be used to provide a potential resource range for the discovery.
The Sidi Dhaher discovery 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% * (
LON:GPX)XState Resources Ltd 10% * (
ASX:XST)Verus Investments Limited 10% * (
ASX:VIL)Note: The respective participant interests in the Sidi Dhaher well and the Chorbane Permit are based on the completion of all farmin obligations.
| Tweet |
About ADX Energy Limited
The company's strategy is two pronged; grow the European and North African oil and gas business in order to expose shareholders to the lucrative European energy market and to promote it's existing Australian energy, gold and base metal portfolio to capitalise on the current high commodity price environment.
ADX was incorporated in 1987 in order to explore for gold and base metals in Western Australia. The company has recently diversified from its initial minerals focus to include oil and gas exploration. To that effect ADX farmed in PEL 182 into the South Australian portion of the Cooper Basin in 2005.
ADX appointed Wolfgang Zimmer, an oil and gas industry professional with over 27 years experience, as Managing Director in late 2007 to grow the company’s oil and gas business. Subsequent director and staff appointments and the establishment of a European office have boosted the depth of oil and gas experience in the company and allowed the company to expand its oil and gas activities.
Currently ADX operates permits onshore and offshore Tunisia, offshore Italy and onshore Australia and holds an interest in a non operated block in onshore Romania.
ADX is also a participant and operator of a number of AMI's (Area/s of Mutual Interest) that enable it and its partners to efficiently act upon business opportunities.
|
||
|
 |
Related Companies |
>>>       ADX Energy Limited>>> Gulfsands Petroleum plc>>> Verus Investments Limited >>> Xstate Resources Limited |
| |
Related Industry Topics: |
Gas & Oil | Energy General | Financial General | Mining | |
| |
This Page Viewed: (Last 7 Days: 140) (Last 30 Days: 600) (Since Published: 11400) |
Events & Exhibitions
|
Site Search
| ENGLISH All Languages |
Upcoming WebCasts
 | Mr Mark Paton CEO Cue Energy Resources Tuesday, June 12, 2012 |
 | Mr Alan Hopkins CEO Pan Asia Corporation Tuesday, June 12, 2012 |
 | Mr Barry Dawes Martin Place Securities Tuesday, June 12, 2012 |
 | Dr Andrea Grant CEO Living Cell Technologies Monday, July 02, 2012 |
|
ADX Energy Limited | ||||||
|
|||||||
|
Gulfsands Petroleum plc | ||||||
|
|||||||
|
Verus Investments Limited | ||||||
|
|||||||
Companies in the News
Mobile Video TV
|
||
|
||
){kind=link}