ann this week, page-2

from VILs website:

The Sidi Daher Prospect is part of the 2428sq km Chorbane Exploration Permit onshore central Tunisia, near the port city of Sfax.

Verus Investments has a 10 per cent working interest in the Sidi Daher Prospect. The first well on the prospect is expected to spud in the second quarter of 2011 and it is anticipated it will take four weeks to reach the target depth. Completion and testing of the well will follow soon after if it proves to be a discovery.

The Chorbane Permit is in the southwest part of the Pelagian Basin and large undrilled structures have been identified there. The permit is surrounded by several producing oil fields with short distances to access onshore processing facilities.

The permit?s operator, ADX Energy, has identified five targets with reserve potential of 44 million barrels of oil and 175 billion cubic feet of gas on the permit.

The multi-reservoir Sidi Daher Prospect is the largest structure mapped and currently the most highly ranked of these. The structure has significant closure at Eocene through to the Lower Cretaceous reservoirs that add significant upside and reduce the risk of the prospect.

Recent work on Sidi Daher has identified an Eocene Metlaoui flat spot, or direct hydrocarbon indicator (DHI), which ADX interprets to be indicative of trapped hydrocarbons.