Petroceltic Renews Ksar Hadada Exploration Permit, Identifies New Prospects
Petroceltic said on 14 May that it had renewed its exploration rights on the Ksar Hadada exploration permit onshore Tunisia for three years from 20 April 2008 and that, together with its main partner in the block Independent Resources, it had surrendered a 20% interest in the block to Tunisias state-owned Entreprise Tunisienne dActivites Petrolieres (ETAP) . New interpretation of seismic and well data on the permit, in southeast Tunisia, has yielded positive results, Petroceltic said, indicating that Ksar Hadada may contain several new Ordovician and Silurian prospects in the southern part of the block, in addition to the Sidi Toui and Oryx structures know to be present (MEES, 14 June 2004). Drilling has been delayed until the first half of 2009 due to the scarcity of rigs. Petroceltic was awarded the 5,600 sq km Ksar Hadada acreage in December 2003, by ETAP, and holds a 57% interest. AIM-listed Independent Resources (40%) farmed into the block in 2005.
Copyright MEES 2008.
