AuDAX Resources Ltd (ASX:ADX) Selects Atwood Oceanics (NYSE:ATW) To Provide Drilling Rig For The Sambuca Prospect
Perth, Nov 11, 2009 AEST (ABN Newswire) - AuDAX Resources Ltd (ASX:ADX)(PINK:ADXRF) is pleased to announce that Atwood Oceanics Inc (NYSE:ATW) has been selected as the successful bidder to provide Drilling Rig Services for the deep water Sambuca prospect in the Kerkouane permit offshore Tunisia. Atwood will be providing the ATWOOD SOUTHERN CROSS semi-submersible offshore drilling unit to conduct the work programme.
The technical and commercial evaluation results were approved by ETAP (Enterprise Tunisienne D'Activites Petrolieres) in Tunis.
Subject to signing a final agreement and receiving respective government approvals, AuDAX expects to drill the Exploration well to test the Sambuca prospect in the preferred weather window of summer 2010.
The Sambuca prospect appears to be one of the largest undrilled structures in the Mediterranean Sea with a total P50 recoverable resource potential of 270 million barrels of oil equivalent.
About ADX Energy Limited
ADX Energy Limited's (
ASX:ADX) (OTCMKTS:ADXRF) is an Australian Stock Exchange (ASX) listed International Energy Explorer which is soon to become a Producer. The Company's Geographical focus is Onshore Europe and Offshore Mediterranean with a portfolio consisting of recently acquired Production as well as Appraisal, Development and Exploration Assets. ADX's interests are located in Romania, Italy, Tunisia and most recently Austria. The Company's immediate focus is on low cost, low risk, profitable resource commercialisation opportunities onshore and higher cost higher reward offshore projects in the longer term. The Company is headquartered in Perth, Western Australia with additional operating offices in Bucharest (Romania) and soon to be Vienna (Austria). The Company also has representative offices in Italy and Tunisia.
ADX Energy's vision is to establish a stable cash producing platform onshore Europe and develop a number of rapid resource to reserves opportunities as well as low risk exploration potential with access to infrastructure in favourable fiscal and operating environments.
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