AuDAX reports on Dougga field reserves

Tracs International Consultancy has completed a reserves evaluation and development design study of the Dougga gas condensate field in AuDAX's Kerkouane license offshore Tunisia.

Offshore staff

PERTH, Australia -- Tracs International Consultancy has completed a reserves evaluation and development design study of the Dougga gas condensate field in AuDAX's Kerkouane license offshore Tunisia. AuDAX currently holds 100% interest in the Dougga discovery.

The company estimates the field’s likely sales gas and condensate contingent resources are 74.5 MMboe. This includes 42 MMbbl of liquids. The upside estimate is 117 MMboe with a liquid contents of 65 MMboe.

AuDAX is preparing to drill the nearby Sambuca exploration prospect before conducting an appraisal of the Dougga field. Sambuca contains the same reservoirs as the Dougga gas condensate field in addition to the expected shallower Birsa oil reservoirs. In the case of an Abiod gas condensate discovery at Sambuca, a joint development of both fields would be most profitable, the company says.

The Sambuca prospect is located in two contiguous Exploration Permits, in G.R15.PU, offshore the island of Pantelleria southwest of Sicily in Italian waters, and in the Kerkouane permit offshore northeast Tunisia.

AuDAX’s exploration work within the Pantelleria and Kerkouane Permits has identified a number of prospects and leads. The Sambuca prospect appears to be one of the largest undrilled structures in the Mediterranean Sea with a total P50 unrisked recoverable resource potential of 270 MMboe, the company says.

The total P50 unrisked recoverable resource of the mapped prospects in both permits could exceed 1 Bboe, the company says.

07/27/2009

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