similar action to MMR & BUY. Tender for drilling services sent out on 25th July.
ADX's market cap is slightly over $30mln and it will soon drilling the Sambuca prospect (with a potential of 270mlnboe equivalent). ADX is breaking out at the moment, go you good thing.
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The Sambuca prospect is located in two contiguous Exploration Permits, in G.R15.PU: in
Italian waters and in the Kerkouane Permit offshore northeast Tunisia (see figure below).
The Sambuca prospect is one of the largest undrilled structures in the Mediterranean Sea
with a total P50 unrisked recoverable resource potential of 270 million barrels of oil
equivalent.
The total P50 unrisked recoverable resource of the mapped prospects in both permits
could exceed one billion barrels of oil equivalent.
Subject to availability of a suitable rig it is expected to drill the Sambuca well in Q1/Q2
of next year.
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