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Xstate Resources views progress at Sidi Dhaher-1 Well in Tunisia

 Xstate Resources views progress at Sidi Dhaher-1 Well in Tunisia

Xstate Resources (ASX: XST) has a 10% stake in the Sidi Dhaher-1 well drilled by ADX Energy (ASX:ADX) in Tunisia.

The prospect is located in the 2,428km2 large Chorbane Exploration Permit onshore central Tunisia near the port city of Sfax. It is surrounded by several producing oil fields and extensive oil and gas infrastructure.

The operator has reported that Sidi Dhaher-1 has now been logged without further technical problems from the casing shoe at 999 metres to 1785 metres.

The well was then deepened to 2011m and wireline logs as well as pressure tests were run.

As of Sunday 6am GMT, the well was prepared for MDT to test identified zones of interest. Planned for the week include complete testing and evaluation and conditioning the well for running casing

The Sidi Dhaher well is targeting an Eocene reservoir with estimated prospective resources of 175 billion cubic feet (5 billion m³) of recoverable gas and a Cretaceous reservoir with estimated prospective resources of 44 million barrels (5.9 million tons) of oil.

Additional targets exist in the deeper Douleb and Bireno reservoirs that produce oil and gas in the Guebiba-El Hajeb field immediately east of the Chorbane permit.

Participant interests in the Sidi Dhaher -1 well will be as follows;

ADX Energy Ltd 40% Operator
Gulfsands Petroleum plc 40% *
XState Resources Ltd 10% * (ASX code: XST)
Verus Investments Limited 10% * (ASX code: VIL)

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Xstate Resources Ltd Timeline

February 15 2017
August 31 2015

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