Tunisia: ADX Energy Limited Provides Lambouka-1 Update

Since the last update approval to suspend the well has been obtained from the Tunisian designated authorities, the well bore has been successfully isolated with 5 cement plugs as well a retrievable bridge plug and a surface corrosion cap installed.

The blow out preventers and the subsea riser have been retrieved.

Rig operations as at 0600 hrs Tunisian local time on the 13th of September were the retrieval of rig anchors in preparation for rig demobilization.

Participants in the Lambouka -1 well are as follows:

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%

Notes:

1. The respective interests in the Lambouka Prospect area in the Kerkouane Permit and the Pantelleria Licence are based on the completion of all farmin obligations.

2. ADX’ interest is held via wholly owned subsidiary Alpine Oil & Gas Pty Ltd and pending completion of the farmin obligation, Alpine will continue to hold 100% of the Pantelleria Licence.

3. XState Resources Limited interest is held via wholly owned subsidiary Bombora Energy Limited.

ADX Energy Limited

The company’s strategy is two pronged; grow the European and North African oil and gas business in order to expose shareholders to the lucrative European energy market and to promote it’s existing Australian energy, gold and base metal portfolio to capitalise on the current high commodity price environment.

ADX was incorporated in 1987 in order to explore for gold and base metals in Western Australia. The company has recently diversified from its initial minerals focus to include oil and gas exploration. To that effect ADX farmed in PEL 182 into the South Australian portion of the Cooper Basin in 2005.

ADX appointed Wolfgang Zimmer, an oil and gas industry professional with over 27 years experience, as Managing Director in late 2007 to grow the company’s oil and gas business. Subsequent director and staff appointments and the establishment of a European office have boosted the depth of oil and gas experience in the company and allowed the company to expand its oil and gas activities.

Currently ADX operates permits onshore and offshore Tunisia, offshore Italy and onshore Australia and holds an interest in a non operated block in onshore Romania.

ADX is also a participant and operator of a number of AMI’s (Area/s of Mutual Interest) that enable it and its partners to efficiently act upon business opportunities.

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Source: ADX Energy Limited,September 14, 2010,