AuDAX Resources Ltd (ASX:ADX) Receives Six Bids For A Semi Submersible Drilling Rig At Sambuca Prospect
Perth, Sep 17, 2009 AEST (ABN Newswire) - AuDAX Resources Ltd (ASX:ADX)(PINK:ADXRF) announces that the tender documents received for a semi submersible rig to drill the Sambuca prospect were formally opened in the presence of ETAP (Enterprise Tunisienne D'Activites Petrolieres) in Tunis on Tuesday.
Invitations to tender had been sent to 15 potential bidders. Six bids from drilling rig owners were found to be valid. A total of nine companies declined due to rig unavailability or simply did not respond.
Subject to clarification of the submitted bids the full technical and commercial evaluation is expected to be completed by 30th September 2009. Internal AuDAX and ETAP approval for award of the contract is expected to be completed around the 20th October 2009.
The Sambuca prospect appears to be one of the largest undrilled structures in the Mediterranean Sea with a total P50 recoverable resource potential of 270 million barrels of oil equivalent.
About ADX Energy Limited
ADX Energy Limited's (
ASX:ADX) (OTCMKTS:ADXRF) is an Australian Stock Exchange (ASX) listed International Energy Explorer which is soon to become a Producer. The Company's Geographical focus is Onshore Europe and Offshore Mediterranean with a portfolio consisting of recently acquired Production as well as Appraisal, Development and Exploration Assets. ADX's interests are located in Romania, Italy, Tunisia and most recently Austria. The Company's immediate focus is on low cost, low risk, profitable resource commercialisation opportunities onshore and higher cost higher reward offshore projects in the longer term. The Company is headquartered in Perth, Western Australia with additional operating offices in Bucharest (Romania) and soon to be Vienna (Austria). The Company also has representative offices in Italy and Tunisia.
ADX Energy's vision is to establish a stable cash producing platform onshore Europe and develop a number of rapid resource to reserves opportunities as well as low risk exploration potential with access to infrastructure in favourable fiscal and operating environments.
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