Tunisia: ADX Energy Limited Lambouka-1 Well – Operations Update (Aug 31)

ADX Energy Limited  reports on activities during past week.

The 8 1/2″ section was successfully drilled from 2,219 meters through the main target section (Abiod formation) to the current measured depth of 2,785 meters. A bit change was made at a depth of 2,629 meters.

Further to the update from 27th August which described the preliminary positive indications in the Abiod reservoir section more drilling fluid losses were encountered throughout the entire 8 1/2″ section. All losses were managed in a safe and efficient manner.

The combination of drilling fluid losses, high resistivity on MWD (Measurement While Drilling) logs, increase in background gas and oil shows has led to the decision to run a comprehensive set of wireline logs which will provide the basis for a reliable dataset for the evaluation of reservoir properties and the presence of hydrocarbons.

Weekly Operations Forecast:

Forecast operations during the coming week are as follows:

– Drill to final TD and pull out of hole with BHA (bottom hole assembly)

– Commence Formation evaluation by wireline logging

– Conduct MDT (Modular Formation Dynamics Tester)

Participants in the Lambouka -1 well are as follows (note 1);

– ADX (note 2) 30% Operator

– Gulfsands Petroleum Plc (LON:GPX) (PINK:GFPOF): 30%

– Carnavale Resources Ltd (ASX:CAV): 20%

– XState Resources Ltd (ASX:XST): (note 3) 10%

– PharmAust Limited (ASX:PAA): 10%

[mappress]

Source: ABNnewswire, August 31, 2010,