AuDAX Resources Ltd (ASX:ADX)(PNK:ADXRF) 3D Seismic Operational Update
Perth, April 12, 2010 AEST (ABN Newswire) - AuDAX Resources Ltd (
ASX:ADX)(PINK:ADXRF) is pleased to announce that the Geostreamer 3D seismic acquisition with the PGS Atlantic Explorer vessel in the Sicily Channel, is approximately a week ahead of schedule despite challenging offshore weather conditions.
The acquisition of the 3D seismic fast track cube over the Lambouka prospect was completed on the 1st April and is already being processed to be ready in time for the selection of the location for the Lambouka well. It is expected that the new data will enable the well to be optimally located on what is a very large and robust structure that is currently defined on 2D seismic.
Paul Fink, AuDAX Technical Director commented, "the onboard QC results for the seismic acquired look very encouraging and of excellent quality. The positioning of the Lambouka well location on state of the art 3D seismic will further reduce exploration risks."
The expected completion date for the entire survey is the 16th of April 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.
| ||
|
