Sidi Dhaher-1 Well Test Update
Sydney, June 7, 2012 AEST (ABN Newswire) - ADX Energy Limited (
ASX:ADX) provides the following update on the testing of the Sidi Dhaher-1 oil discovery, in the Chorbane licence, onshore Tunisia.
The down hole test string assembly has been successfully run in to the hole to a total depth of approximately 1180 meters and pressure tested.
To ensure the perforating guns are positioned correctly over the oil bearing intervals to be tested an electric wireline gamma ray log is being run.
Once the drill pipe conveyed perforating guns are correctly positioned over the reservoir intervals to be tested the perforating guns will be fired and the well will be in direct communication with the oil bearing reservoir.
The well test will then commence and the operator will attempt to flow the well without acid stimulation or artificial lift.
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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