tunisia potential

ATI Petroleum Ltd. (ATIP), awarded Ayacha and Ksar Ghilane oil and gas blocks in Tunisia. ATIP management announced the official awarding of two blocks of oil and gas for exploration and development in Tunisia. ETAP, Tunisia’s national oil and gas company, has assigned Block RA8 Ayacha and Block RA9 Ksar Ghilane to ATIP. This acquisition raises ATIP’s reserve capacity significantly.

ATIP’s team of petroleum geologists is working on an analysis of the blocks at present and will issue its calculation for the estimated potential reserve in 60 days. Numerous oil giants, like Exxon, are already exploring in the area.

ATIP takes over an area for which Mobil has already done extensive work. Tunisia is surrounded by oil-rich neighbors like Libya and Algeria. Many discoveries have already revealed the great potential for oil reserves in the area.

Tunisian Exploration & Development Program

In the same area as ATIP’s recently acquired blocks, ETAP, from January to October 2006, drilled seven exploration wells, one well spudded in 2005 and six wells spudded in 2006. Four out of seven exploration wells drilled tested successful and six out of seven development well are working.