ADX Energy has estimated the mean prospective resource for the Lambouka Prospect at 270 million barrels oil equivalent (mmboe) with the primary objectives for the well being the Miocene aged Birsa Formation and the Cretaceous aged Abiod Formation.
Drilling of the Lambouka-1 well is being carried out by the Atwood Southern Cross semi-submersible drilling rig and it is expected to take approximately 35 days to drill and evaluate this well.
Gulfsands is acquiring a 30% participating interest in the Kerkouane License and the adjacent Pantelleria Permit, which lies in the Sicily Channel in Italian waters.
Ric Malcolm, CEO of Gulfsands, said: “Lambouka-1 represents our first exploration well in Tunisia and comes ahead of a well to be drilled onshore on the Chorbane license in the fourth quarter of 2010.”
