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ADX Energy provides an update on oil potential for Sicily Channel Oil Prospect

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ADX Energy (ASX: ADX) has received a report from a consultant that has estimated the resource potential at its Dougga West Prospect in its Tunisian operated Kerkouane permit.

ISIS Petroleum consultants has estimated prospective upside resource potential for the proven Upper Birsa sandstone reservoir at over a billion barrels and estimated the most likely OIP (“oil in place”) at 423 mmbbls.

Before drilling of the next well, ADX will seek to divest part of its interest in order to fund the well given contiguous Sicily Channel blocks Kerkouane (Tunisia) and Pantelleria (Italy) and interest shown in the permits.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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