Antrim Energy’s rig contracted to deepen its Chott Fejaj #3A well in Tunisia has been released from its current contract and is expected to start drilling on the Antrim location in approximately 14 days.
The Chott Fejaj #3A well, of which Antrim holds a 34.3 percent interest was previously drilled, cased and suspended in December 1998 at a depth of 3,532 meters. It is being deepened to evaluate the primary targets in the Triassic and older reservoirs.
The well will test a structure located in the Melrhir Basin, part of the same geological province which contains the ‘giant’ oil and gas accumulations including reservoirs containing more than 500 million barrels of oil or three trillion cubic feet (tcf) of gas in southern Tunisia, Algeria and Libya.
The Chott Fejaj #3A drilling location is situated approximately 12 kilometers from the gas and oil pipelines which carry gas to Europe, and oil from fields in southern Tunisia to ports on the Mediterranean coast.
The Calagary-based company has negotiated an option with a third party to farm out a portion of Antrim's interest in this prospect and, in this regard, has received a $175,000 non-refundable deposit. Antrim is committed to enhancing shareholder value through high impact global exploration. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
