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ADX begins drilling operations offshore Tunisia

Gulfsands Petroleum announced that ADX, the operator of the Kerkouane Exploration Licence offshore Tunisia (Kerkouane License), has advised of the commencement of drilling operations on the Lambouka-1 well on the Lambouka Prospect in the Sicily Channel.

ADX Energy has estimated the mean prospective resource for the Lambouka Prospect at 270 million barrels oil equivalent ("MMBOE") with the primary objectives for the well being the Miocene aged Birsa Formation and the Cretaceous aged Abiod Formation.

Drilling of the Lambouka-1 well is being carried out by the Atwood Southern Cross semi-submersible drilling rig and it is expected to take approximately 35 days to drill and evaluate this well.

Gulfsands is acquiring a 30% participating interest in the Kerkouane License and the adjacent Pantelleria Permit which lies in the Sicily Channel in Italian waters.

Ric Malcolm, Gulfsands CEO, said, "We are pleased to be able to report that the Southern Cross semi-submersible has now commenced drilling operations on the Lambouka-1 well. Lambouka-1 represents our first exploration well in Tunisia and comes ahead of a well to be drilled onshore on the Chorbane license in the fourth quarter of 2010. We will be reporting on progress with the Lambouka-1 well as appropriate, during the coming month."

 

 

07/12/2010

 

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