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Xstate Resources: Chorbane prospectivity boosted with 51m barrels of oil from Sidi Dhaher

Xstate Resources: Chorbane prospectivity boosted with 51m barrels of oil from Sidi Dhaher

XState Resources’ (ASX: XST) Sidi Dhaher oil discovery within the Chorbane Permit onshore Tunisia has been estimated at 51 million barrels of oil in place, which makes the other mapped prospects on the permit more attractive as future drilling targets.

The interpreted 30 metre oil column in the Sidi Dhaher 1 well occurs in good quality Cretaceous age, Bireno Carbonate reservoir rocks. Oil was recovered from the reservoir using wireline sampling tools.

A further boost to the project is the oil bearing reservoirs are quite shallow at around 1100 metres which would result in relatively inexpensive appraisal and development wells.

The Sidi Dhaher-1 well is located within the 2,428 square kilometre Chorbane Exploration Permit, near the oil industry services supply centre of Sfax.

It is surrounded by several producing oil fields, some with characteristics similar to the Sidi Dhaher discovery well, and extensive oil and gas infrastructure.

Sidi Dhaher is located 60 kilometres from the La Skhira oil terminal and oil pipelines to the terminal run through the Chorbane Permit.

Xstate has earned a 10% interest in the permit and will pay 10% of future costs including the cost of testing the well.

The operator for the Chorbane Permit is currently in the process of finalising rig selection to proceed with well testing as soon as possible.

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Xstate Resources Ltd Timeline

Newswire
February 15 2017
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August 31 2015

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