Suspended Lambouka well set for re-entry

ADX Energy has provided an update on potential resources in its recent Lambouka-1 gas discovery offshore Tunisia.

Offshore staff

LONDON -- ADX Energy has provided an update on potential resources in its recent Lambouka-1 gas discovery offshore Tunisia.

The report incorporates information from new 3D seismic data and drilling and petrophysical log data from the well. ADX estimates gas resources in the range 145-528 bcf; condensates at 11-41 MMbbl; and combined resources of 35-120 MMboe.

These estimates relate to the Abiod and Allam carbonate reservoirs which were interpreted as hydrocarbon bearing at the well location. They do not include any up-dip potential in underlying reservoirs within the Lambouka structure.

ADX was not able to recover hydrocarbons to surface either through wireline-based fluid sample recovery, or during a drillstem test. Neither activity was possible during due to downhole conditions at the time.

According to partner Gulfsands Petroleum, the next steps will likely include a re-entry of Lambouka-1 to side track and test the Abiod and Allam formations. ADX also plans an appraisal well on the nearby Dougga discovery and exploration drilling on other structures identified on the 3D seismic acquired prior to Lambouka-1.

09/23/2010

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