logo-loader
viewADX Energy Limited

ADX Energy starts work to production test Tunisian onshore oil well

no_picture_pai.jpg

ADX Energy (ASX: ADX) has started operations on its highly anticipated flow testing of the Sidi Dhaher-1 oil discovery at the Chorbane licence, onshore Tunisia.

The Sedlar test rig has started drilling out the cast iron safety plug in the cased hole and will then start the 3 multi-stage production testing, which is expected to take about 3 weeks.

This is aimed at confirming the recoverable volumes and resulting potential reserves, and identify commercial flow rates and recovery factors.

Detailed interpretation and analysis of reservoir fluid samples recovered during drilling had indicated a good quality Bireno carbonate reservoir with a 30 metre oil column.

This formation has proven very productive in several nearby fields.

Log analysis has also indicated potential pay in the Cherahil formation, which will be tested if the Bireno formation test results are unfavourable.

A successful test will lead to an extended well test program to provide additional production and reservoir performance information that will be used for field development and planning purposes.

Sidi Dhaher has estimated mean contingent oil in place resource volumes of 51 million barrels.

The 2428 square kilometre Chorbane permit has all the hallmarks of a highly prospective oil and gas asset.

It contains large undrilled structures in a producing oil and gas province with high quality seismic available over prospects and leads that gives ADX plenty of follow up potential.

To top it off, the permit is close to existing onshore pipelines, a strong gas market and oil equivalent pricing conditions, making commercialisation of any discoveries both quick and economically attractive.

ADX holds a 40% stake (operator) in Chorbane while Gulfsands Petroleum (LON: GPX) also holds 40%. The remaining 20% is split equally between XState Resources (ASX: XST) and Verus Investments (ASX: VIL).

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

Quick facts: ADX Energy Limited

Price: 0.007 AUD

ASX:ADX
Market: ASX
Market Cap: $11.97 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Archer Materials looking to raise 3 million offering a Share Purchase Plan

Archer Materials ( ASX: AXE) CEO Dr Mohammad Choucair joined Proactive’s Steve Darling with news the company is looking to raise capital in a Share Purchase Plan which began June 1st. That plan will allow eligible shareholders the opportunity to purchase new Archer shares at a price of $0.60 per...

2 days, 8 hours ago

2 min read