Drilled to a total depth of 2,815m, the Jawhara-3 well logging and testing results will be further analyzed to re-evaluate the Jawhara field’s oil-in-place estimates.
The Douleb and Bireno fractured carbonates formations are water bearing in the compartment of the structure targeted by the well while two other secondary objectives had oil shows.
In November 2014, Petrogas E&P wholly-owned subsidiary Petrogas E&P Tunisia BV purchased 35% participating (40 percent paying) interest in the permit from DNO.
Petrogas has agreed to pay a part of DNO’s share of the Jawhara-3 well cost as well as its own paying interest share, as part of the agreement.
Petrogas will also pay its paying interest share of prior expenditures incurred by DNO.
Upon completion of transaction, which is subject to approval by Tunisian authorities, DNO will hold a 52.5% participating (60% paying) interest in the permit while the other partners, including Eurogas International and Atlas Petroleum Exploration Worldwide, together will hold a 12.5% carried interest.
