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:

The company's strategy is two pronged; grow the European and North African oil and gas business in order to expose shareholders to the lucrative European energy market and to promote it's existing Australian energy, gold and base metal portfolio to capitalise on the current high commodity price environment.

ADX was incorporated in 1987 in order to explore for gold and base metals in Western Australia. The company has recently diversified from its initial minerals focus to include oil and gas exploration. To that effect ADX farmed in PEL 182 into the South Australian portion of the Cooper Basin in 2005.

ADX appointed Wolfgang Zimmer, an oil and gas industry professional with over 27 years experience, as Managing Director in late 2007 to grow the company’s oil and gas business. Subsequent director and staff appointments and the establishment of a European office have boosted the depth of oil and gas experience in the company and allowed the company to expand its oil and gas activities.

Currently ADX operates permits onshore and offshore Tunisia, offshore Italy and onshore Australia and holds an interest in a non operated block in onshore Romania.

ADX is also a participant and operator of a number of AMI's (Area/s of Mutual Interest) that enable it and its partners to efficiently act upon business opportunities.

Contact:

ADX Energy Limited
T: +61-8-9226-2822
F: +61-8-9226-5333
E: admin@adxenergy.com.au
WWW: www.adxenergy.com.au

 

Source:

ADX Energy Limited

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