Sidi Dhaher-1 Operations Commence
Sydney, June 1, 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 license, onshore Tunisia.
ADX has completed the final audits of the rig and all related equipment on site and accepted the Sedlar drilling rig.
As of 22:30 hours GMT on Thursday 31st of May 2012, operations have commenced with the drilling out of the cast iron safety plug in the cased hole.
The testing program foresees a multi-stage operation with expected time duration of approximately three weeks.
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.
| ||
|
