AuDAX Resources expects to acquire the 3D survey over a number of leads and prospects, including the Sambuca prospect and the Dougga field in the first quarter of 2010. Petroleum Geo-Services will be applying its unique but proven Geostreamer Dual Sensor technology for the first time in Tunisia. The survey will cover around 620 square kilometers full fold subsurface area. Petroleum Geo-Services will not earn any interest in the permits from this programme.
Paul Fink, AuDAX Resources technical director commented that the dual sensor Geostreamer incorporates the latest in technology and would accurately image both shallow and deep reservoir targets in an area where large hydrocarbon resource potential could not previously be interpreted, due to poor seismic imaging on both conventional 2D and 3D data.
The Kerkouane permit contains one of the largest undrilled structures in the Mediterranean Sea and several other prospective structures with a total recoverable resource potential of over one billion barrels of oil equivalent. Upon completion the 3D will give the Company a clearer understanding of the targets and confirm the location of the proposed Sambuca exploration well and future evaluation well at the Dougga field.
