chorbane permit, page-2

I have a theory. (actually i have about 45829517)

ADX / Gulfsands go 50/50 and take VIL and XST out of the picture.

Should know this when..

A. Announcement from ADX is posted regarding the expired permit (yesterday) being renewed for the offered three years

Or

B. Vil and/or XSt annouce the sale

C. Both


All in all, we are all guessing.

I tell you this though, ADX dont plan on bailing chorbane anytime soon.

And i quote:

Paul Fink, Technical Director of ADX said..

"There are several undrilled opportunities within the Chorbane permit in onshore Tunisia, which are independent of Sidi Dhaher-1 and in addition to the deeper Jurassic gas potential confirmed by the Chaal 1 well in the adjacent Chaal permit. Our next phase of exploration in the permit is likely to focus on a set of prospects close to oil and gas discoveries and within the proven oil and gas kitchen area that exists in the central and eastern part of Chorbane”

That was on July 3

Vil may sell out of this risk and focus on FP. I dont see VIL staying in Tunisia.

IMO




HB