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ADX ENERGY LTD — Capital/Financing Update 2012
May 31, 2012
64308_rns_2012-05-31_22ad70f9-5da4-4f45-bc5c-091e04717c81.pdf
Capital/Financing Update
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31 May 2012
ADX: Sidi Dhaher-1 Well Test Update:
ADX Energy Limited (ASX:ADX)
provides the following operational update on the well test of its Sidi Dhaher-1 oil discovery, Chorbane license, onshore Tunisia.
ADX has completed the final audits of the rig and all related equipment on site and accepted the Sedlar drilling rig.
As of 22:30 hours GMT on Thursday 31st of May 2012, operations have commenced with the drilling out of the cast iron safety plug in the cased hole.
The testing program foresees a multi-stage operation with expected time duration of approximately three weeks.
ADX will continue to provide updates on operational milestones as they occur.
Participant interests in the Sidi Dhaher -1 well tests will be as follows;
ADX Energy Ltd 40% Operator Gulfsands Petroleum Plc 40% XState Resources Ltd 10% (ASX code: XST) Verus Investments Limited 10% (ASX code: VIL)
For further details please contact
Wolfgang Zimmer Ian Tchacos Managing Director Chairman +61 (08) 9226 2822 +61 (08) 9226 2822