audax.com.au/documents/Lambouka-1%20Operations%20Update%208.pdf31st August 2010
Lambouka&
#8208;1 Well &
#8208; Operations Update
#8Activities during past week
The 8 1/2” section was successfully drilled from 2,219 meters through the
main target section (Abiod formation) to the current measured depth of
2,785 meters. A bit change was made at a depth of 2,629 meters.
Further to the update from 27th August which described the preliminary
positive indications in the Abiod reservoir section more drilling fluid losses
were encountered throughout the entire 8 ½” section. All losses were
managed in a safe and efficient manner.
The combination of drilling fluid losses, high resistivity on MWD
(Measurement While Drilling) logs, increase in background gas and oil
shows has led to the decision to run a comprehensive set of wireline logs
which will provide the basis for a reliable dataset for the evaluation of
reservoir properties and the presence of hydrocarbons.
Weekly Operations Forecast:
Forecast operations during the coming week are as follows:
• Drill to final TD and pull out of hole with BHA (bottom hole assembly)
• Commence Formation evaluation by wireline logging
• Conduct MDT (Modular Formation Dynamics Tester)
Participants in the Lambouka &
#8208;1 well are as follows (note 1);
ADX (note 2) 30% Operator
Gulfsands Petroleum Plc 30%
Carnavale Resources Ltd 20%
XState Resources Ltd (note 3) 10%
PharmAust Limited 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.
For further details please contact:
Wolfgang Zimmer Ian Tchacos
Managing Director Chairman
+43 (0) 676 358 1214 +61(08)9226 2822
www.adxenergy.com.au Jeder ist für sein Handeln selbst verantwortlich. Keine Kaufs-/Verkaufsempfehlung !!!
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