Sicily Channel Project Profile

(incorporating the Kerkouane Permit, the Pantelleria License and d 364 C.R-.AX License (Italy))

OPERATOR
(ALL AREAS) ADX ENERGY LTD

INTEREST
100% FOR PANTELLERIA LICENSE AREA
100% FOR KERKOUANE PERMIT AREA INCLUDING DOUGGA FIELD
100% FOR EXPLORATION LICENSE d 364 C.R-.AX


The previously discovered Dougga and the recently discovered Lambouka fields comprise a significant combined resource which may exceed 500 bcf of gas and in excess of 60 MMbbls of liquids (Mean recoverable figures).

Dougga and Lambouka represent a material appraisal and development opportunity for ADX and its partners. The leading edge Geostreamer (dual sensor) 3D seismic acquired in 2010 covers both discoveries and has identified additional medium to low risk exploration prospects which can be quickly monetized through tie-in. Several additional large size prospects have been identified on 2D seismic. In 2010 Shell and Northern Petroleum acquired a very large 3D survey (1,520 km2) to cover this very prospective trend with 3D seismic in adjacent Sicily Channel licenses.


ADX was awarded exploration permit d 364 C.R-.AX in July 2011 which is contiguous to Kerkouane and enhances the strategic acreage position. Geophysical data confirms prospective hydrocarbon fairways trending into areas covered by this new permit. ADX is the operator and holds 100% interest.
 

Asset Overview

The Dougga and Lambouka gas discoveries are located offshore Tunisia and Italy in the Sicily Channel. The combination of Dougga and Lambouka gas discoveries enhances the potential of a commercially attractive gas condensate development in the Sicily channel by aggregating the resources of both fields. The Dougga field contains audited mean recoverable contingent sales gas resources of 194 bcf and 42MMbbls of associated condensate and LPGs. The resource potential of Dougga has been reviewed, utilizing the recently acquired high resolution 3D seismic data set. The recent Lambouka gas discovery is considered a potentially substantial resource which could contain 309 bcf mean recoverable gas resources with the potential for significant associated condensate volumes. Any development would be assisted commercially by the attractive gas pricing conditions in Tunisia and the significant liquid volumes in Dougga and potentially Lambouka.


Projects