AuDAX Resources Limited (ASX:ADX) Lambouka 3d Seismic Fast Track Interpretation Completed
Perth, May 12, 2010 AEST (ABN Newswire) - AuDAX Resources Limited (
ASX:ADX) (PINK:ADXRF) is pleased to announce that the interpretation of the Sicily Channel 3D seismic fast track cube over the Lambouka prospect has been completed ahead of schedule. The objective of the fast track 3D cube was to optimize the drilling location for the upcoming Lambouka-1 well.
The acquisition of the 3D seismic fast track cube over the Lambouka prospect was completed on the 1st of April 2010 and processing of the data was completed on the 2nd of May 2010.
Interpretation of the new 3D seismic data has confirmed a drilling location within the originally envisaged area in Tunisian waters based on the previous 2D seismic data set.
In addition to confirming an optimal drilling location the new 3D seismic data set has confirmed the structural validity of the Lambouka prospect as well as further resource upside potential. Excellent seismic reflectivity is present at various hydrocarbon target levels not seen previously on the 2D data which is interpreted by AuDAX as evidence of the presence of good reservoir.
In addition to Lambouka another large sized prospect north of the Dougga field has been identified on seismic. It is expected that the fully processed Geostreamer 3D data (approx. 640 km2) will identify further drillable prospects and contribute to enhancement of their prospectivity.
The expected spud date for the Lambouka-1 exploration well is during the week commencing the 14th of June 2010.
For the complete AuDAX Resources annoucement including figures, please view the following link:
http://www.abnnewswire.net/media/en/docs/62846-ASX-ADX-491009.pdf
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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