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Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	ADX
Latest Price:	0.07 (2.94% )
52-week High:	0.13
52-week Low:	0.07
Market Cap:	28.78M

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ADX Energy

ADX Energy Ltd (ADX) is an Australian Stock Exchange (ASX) listed oil and gas exploration and appraisal company. ADX operates five oil and gas permits in North Africa and Europe. ADX also has gold and base metal interests in Australia held via its stake in ASX listed Riedel Resources (RIE).

ADX Energy granted trading halt for Lambouka-1 well announcement

Monday, September 06, 2010

Perth-based oil & gas explorer, ADX Energy (ASX: ADX) has been granted a trading halt for its shares until 7th September, pending an announcement of further drilling results from the Lambouka-1 well.

ADX has a 30 per cent stake in the well, the Lambouka prospect is located in the ADX operated Kerkouane permit offshore Tunisia. The Lambouka–1 drilling location is approximately 160km North East of Tunis in the Sicily channel. Lambouka is a large 70 square kilometre area tilted horst block which contains three potentially hydrocarbon bearing reservoirs.

The nearest offset well is the Dougga– 1 gas condensate discovery in the Kerkouane permit located approximately 22 km SSW of Lambouka‐1.

In the 27th August “Lambouka ‐1 Interim Update” ADX reported “losses of circulation fluids, an increase in background gas shows and an anomalously high resistivity on the Measurement While Drilling (MWD) electric logs” were encountered in the wells primary target, the Abiod Formation.

Further drilling through the Abiod reservoir section revealed the presence of pinpoint dull yellow fluorescence and oil stains in the (water based) drilling mud showing bright yellow fluorescence. The company said while the result was encouraging it cannot without further evaluation be interpreted as proof of the presence of producable hydrocarbons.

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