ADX Energy (ASX: ADX) has had the rig tender evaluation for the drilling of the Sidi Daher 1 well on the Chorbane permit approved by ETAP (Enterprise Tunisienne D’Activites Petrolieres), giving ADX the choice of four compliant and technically capable onshore rigs.
The company will make the final decision on the preferred drilling rig within the next few days based on commercial criteria and earliest possible spud date for Sidi Daher, which ADX anticipates in January 2011.
Participant interests in the Sidi Daher 1 well are ADX 40%, Gulfsands Petroleum plc 40% (LON: GPX), XState Resources Ltd 10% (ASX: XST), and Verus Investments Limited 10% (ASX: VIL).
The ADX operated Chorbane Exploration Permit is located mainly onshore central Tunisia. The permit is relatively underexplored containing prospects and leads with multiple objectives and both oil and gas potential.
Chorbane is favorably located with regard to infrastructure for both oil & gas export due to its proximity to a number of producing fields, oil & gas pipelines and the port of Sfax.