ADX Energy moves ahead at Sidi Dhaher-1, support camp mobilised
Monday, May 14, 2012 by Proactive Investors ADX Energy (ASX: ADX) is moving forward at the Sidi Dhaher-1 oil discovery at the Chorbane licence, onshore Tunisia, with the support camp now mobilised.
The company added that consistent with the process followed for the drilling of the Sidi Dhaher-1 well, camp mobilisation has been undertaken cautiously.
The local authorities in the Sfax area are supporting ADX’s efforts to complete the mobilisation of the drilling rig, with the company to provide updates on operational milestones as they occur.
The mean contingent oil in place resource volume for the Sidi Dhaher oil discovery has been estimated at 51 million barrels, with the 2428 square kilometre Chorbane permit having all the hallmarks of a highly prospective oil and gas asset.
It contains large undrilled structures in a producing oil and gas province with high quality seismic available over prospects and leads.
ADX holds a 40% stake (operator) in Chorbane while Gulfsands Petroleum (LON: GPX) also holds 40%. The remaining 20% is split equally between XState Resources (ASX: XST) and Verus Investments (ASX: VIL).
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