ADX wins extension for Tunisia permit

Jan. 19, 2011
Tunisia’s government has renewed the Kerkouane exploration license in the Mediterranean Sea for three more years until Feb. 22, 2014.

Offshore staff

WEST PERTH, Australia -- Tunisia’s government has renewed the Kerkouane exploration license in the Mediterranean Sea for three more years until Feb. 22, 2014.

According to operator ADX Energy, the license can then be extended for a further three-year term.

To qualify for the renewal, the partners committed to the following work program:
-A well test on the Lambouka discovery
-Drilling of a well to a minimum depth of 2,500 m (8,202 ft) or to Jurassic reservoir levels if a target appears to be a viable economic prospect which can be identified on newly acquired dual-sensor 3D seismic
-Relinquishing 772 sq km (298 sq mi) of the license area, limiting the new Kerkouane area to 3,080 sq km (1,189 sq mi).

ADX says the current license contains numerous large appraisal and exploration targets including:
-Dougga gas condensate field (covered by 3D seismic)
-Lambouka discovery (covered by 3D seismic)
-Dougga-NW (`Son of Dougga’) prospect (covered by 3D seismic)
-Newly-identified structural – stratigraphic prospects in the Pliocene section (partly covered by 3D, and analogous to very large discoveries offshore Sicily made recently by ENI and Edison)
-Several large structural prospects typical for the overthrust area in the northern part of the license (covered by 2D seismic).

ADX’s partners in the Kerkouane permit are Gulfsands Petroleum and XState Resources.

01/18/2011