ADX Energy (ASX:ADX) has been granted an additional six month extension to the exploration period for its Kerkouane permit offshore Tunisia.
This will assist the company with its farm-out efforts due to increased work program flexibility.
Kerkouane contains an attractive portfolio of appraisal and exploration prospects, such as the multi target Dougga West oil and gas prospect and the Dougga gas condensate discovery.
ADX is seeking to farm out part of its interest to fund the drilling of the next well.
Despite trying farm-out conditions, several material companies with a North African focus are currently reviewing the asset.
ADX recently received US$1.5 million from Gulfsands Petroleum (AIM:GPX) as settlement of all claims and liabilities between the two companies.
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