ADX signs farm-in agreement for Chorbane permit, onshore Tunisia

1/3/2013

ADX signs farm-in agreement for Chorbane permit, onshore Tunisia

ADX Energy announced that its wholly owned subsidiary, Alpine Oil & Gas, has entered into a definitive farmin agreement with Rift Basin International.

Pursuant to the terms of the Farm-in agreement Rift basin International can earn an undivided 15% working interest in the Chorbane exploration permit . The Permit is located onshore Tunisia in the Pelagian Shelf of the Pelagian basin near the port City of Sfax and contains oil & gas infrastructure. It occupies an area of 1,940 sq km and is governed by a production sharing contract with Tunisian Enterprise of Petroleum Activities.

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