ADX Energy (ASX:ADX) has had a significant resource boost to an inferred mean recoverable contingent resource of 234 bcf sales gas, and 50 million barrels of oil equivalent of condensate and LPGs, from the Dougga Gas Condensate discovery located offshore Tunisia.
ADX is the operator with a 60% stake, with Gulfsands Petroleum Plc (LON:GPX) 30% and XState Resources Ltd 10%.
There was an increase of in-place gas and condensate volume estimates across all confidence categories, with; 42% for P(90), 26% for P(50) and 11% for the P(10) estimate.
The resource upgrade is an important step for ADX in the ongoing technical and commercial growth of Dougga, with the company's objective to establish the technical and commercial feasibility after incorporating the results of an appraisal well planned for 2011.
Of importance, 3D seismic mapping indicates 300 meters of updip potential from the Dougga 1 discovery well, which is interpreted to have intersected a 200 plus metre column of gas and condensate.
The 3D seismic interpretation also indicates that Dougga is likely to contain a highly fractured Abiod reservoir.