ADX Energy Gets Exploration Permit Extension off Tunisia

ADX Energy Ltd has announced that the Tunisian Authorities (Comité Consultatif des Hydrocarbures) have approved a 2 year extension of the Exploration period for the Kerkouane permit offshore Tunisia for two years to 21 February 2016.

The ADX operated contiguous Sicily Channel blocks Kerkouane (Tunisia) and Pantelleria (Italy) contain an attractive portfolio of appraisal and exploration prospects such as the Dougga West prospect with its several targets and the Dougga gas condensate field, which are also covered by the dual sensor Geostreamer 3D seismic acquired in 2010.

Prior to drilling the next well, ADX seeks to divest part of its interest. Several interested companies are currently reviewing the asset. ADX will update the market as soon as a legally binding offer has been made.