XState Resources (ASX:XST) will undoubtedly be pleased with the announcement by ADX Energy (ASX:ADX) that the Sidi Dhaher-1 well in the Chorbane licence, onshore Tunisia, spudded at 07:00 am GMT, Saturday 27 August 2011.
There had been delays as the rig moved tp the well site and along the access road.
The current operation is drilling the 16” hole. Sidi Dhaher-1 has a planned total depth of 2,168 metres and is expected to take about 33 days to drill. Additional time will be required in the event of formation testing.
The Sidi Dhaher prospect is located in the 2,428km2 large Chorbane Exploration Permit onshore central Tunisia near the port city of Sfax.
It is surrounded by several producing oil fields and extensive oil and gas infrastructure. The Sidi Dhaher well is targeting an Eocene reservoir with estimated prospective resources of 175 billion cubic feet (5 billion m³) of recoverable gas and a Cretaceous reservoir with estimated prospective resources of 44 million barrels (5.9 million tons) of oil.
Additional targets exist in the deeper Douleb and Bireno reservoirs that produce oil and gas in the Guebiba-El Hajeb field immediately east of the Chorbane permit
Participant interests in the Sidi Dhaher -1 well will be as follows;
ADX Energy Ltd 40% Operator (ASX: ADX)
Gulfsands Petroleum plc 40% *
XState Resources Ltd 10% * (ASX: XST)
Verus Investments Limited 10% * (ASX: VIL)