ADX Energy Granted Additional Six Month Extension for the Kerkouane Permit, Offshore Tunisia

Source Press Release
Company ADX Energy Ltd 
Tags Deal Rumours, Exploration, Upstream Activities
Date March 09, 2015

ADX Energy has announced that the Tunisian Authorities (Comité Consultatif des Hydrocarbures) have granted ADX an additional six month extension of the Exploration period for theKerkouane permit, offshore Tunisia, to the 7th of August 2016.    

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 trying farmout conditions, several material companies with a North African focus are currently reviewing the asset. The extension will assist ADX with its farmout efforts due to increased work programme flexibility. ADX will update shareholders as soon as a legally binding offer has been received.

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