Petroleum Africa
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Wednesday, March 11, 2015
ADX Energy reported the government of Tunisia has granted it an additional six-month extension of the exploration period for the Kerkouane permit. ADX now has until August 7, 2016 to explore on the permit.
The ADX-operated Kerkouane permit 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 challenging farm-out conditions, several material companies with a North African focus are currently reviewing the asset. The extension will assist ADX with its farm-out efforts due to increased work program flexibility.
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