ADX Energy Sidi Dhaher Well Test Update
Sydney, April 23, 2012 AEST (ABN Newswire) - ADX Energy Limited (
ASX:ADX) provides the following operational progress update on preparations for the well test of its Sidi Dhaher-1 oil discovery, Chorbane licence, onshore Tunisia.
Further to the announcement of 12 April 2012, we confirm that mobilisation of all key personnel is now complete, rig related equipment testing is still ongoing and good progress has been made on final preparations of all test equipment from other services including test and oil processing equipment and crude trucking.
Consequently, ADX decided to commence mobilisation of the support camp to the Sidi Dhaher-1 well test site. Consistent with the process followed for the drilling of the Sidi Dhaher well, camp mobilisation is being undertaken cautiously to seek early indications of any issues with any members of the local community.
Unfortunately, access to the well site has been temporarily disrupted by the blocking of local roads by a number of local people who are demanding employment during the testing operations.
Consistent with normal operations in the oil industry, ADX has signed agreements with members of the local community who are affected directly by the operations and has consulted with the local community leading up to the mobilisation of testing equipment.
ADX continues to receive the support of the local community and the local authorities are fully supporting ADX's efforts to find a satisfactory solution so that mobilisation of the camp and other equipment may be completed.
Further advice will be provided as material changes occur.
Participant interests in the Sidi Dhaher-1 well tests will be as follows;
ADX Energy Ltd 40% Operator
Gulfsands Petroleum Plc 40% (LON:GPX)
XState Resources Ltd 10% (ASX:XST)
Verus Investments Limited 10% (ASX:VIL)
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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