AuDAX Resources Limited (ASX:ADX) Signs Contract With Petroleum Geo-Services ASA (OSL:PGS) To Acquire 3D Seismic In The Sicily Channel
Perth, Feb 26, 2010 AEST (ABN Newswire) - AuDAX Resources Ltd (
ASX:ADX) (PINK:ADXRF) is pleased to announce that it has signed a contract with PGS (Petroleum Geoservices) to acquire 670 km2 of 3D seismic data utilising PGS' leading edge proprietary Geostreamer Technology in the Kerkouane permit offshore Tunisia.
Previous exploration work within the Pantelleria and Kerkouane Permits has identified a number of prospects and leads, the most prospective being the drill-ready Sambuca prospect extending east into the adjacent Pantelleria Permit across the Italian-Tunisian maritime border. This structure appears to be one of the largest undrilled structures in the Mediterranean Sea.
Start date for the seismic acquisition is expected to the 15 March 2010.
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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