ADX Energy Limited (ASX:ADX): Mobilization Incident Free for Sidi Dhaher Exploration Well
Perth, June 28, 2011 AEST (ABN Newswire) - ADX Energy Limited (
ASX:ADX) is pleased to announce that the mobilization of camp and rig equipment for the Sidi Dhaher exploration well has been without incidents. Road clearance, traffic control and road safety measures have been provided by the Tunisian authorities.
All rig components have arrived on location and several camp loads are still to be moved. ADX expects that drilling could start early July.
The Sidi Dhaher prospect is located in the 2,428km2 large Chorbane Exploration Permit onshore central Tunisia near the port city of Sfax. It is surrounded by several producing oil fields and extensive oil and gas infrastructure. A summary of the Chorbane Permit and the Sidi Dhaher prospect is attached to this ASX release (see link: http://www.abnnewswire.net/media/en/docs/546889.pdf)
Participant interests in the Sidi Dhaher -1 well will be as follows;
ADX Energy Limited 40% Operator
Gulfsands Petroleum Plc 40%*
XState Resources Limited (ASX:XST) 10%*
Verus Investments Limited (ASX:VIL) 10%*
(*Note: The respective participant interests in the Sidi Dhaher well and the Chorbane Permit are based on the completion of all farmin obligations.)
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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