Sidi Dhaher-1 Support Camp Mobilised
Sydney, May 14, 2012 AEST (ABN Newswire) - ADX Energy Limited (
ASX:ADX) provides the following operational update on the well test of its Sidi Dhaher-1 oil discovery, Chorbane licence, onshore Tunisia.
ADX has completed the mobilisation of the support camp to the Sidi Dhaher -1 well test site and has commenced the mobilisation of the drilling rig. Consistent with the process followed for the drilling of the Sidi Dhaher-1 well, camp mobilisation has been undertaken cautiously.
The unpredictable behavior of the local people has precluded ADX to release any reliable information on forecasts, plans and expected completion dates. Repeated disruptions to road access by a large number of local people who were demanding employment resulted in delays in mobilisation, which is now almost complete.
The local authorities in the Sfax area are supporting ADX's efforts to complete the mobilisation of the drilling rig. ADX will continue to provide updates on operational milestones as they 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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