Tunisia: Chorbane block’s value increased
African Manager

Audax Resources Limited  provided recent exploration activities on  Chorbane block which contains a number of prospects, according to the company. Technical work is underway to mature them and select the best for drilling. Although the initial reason to obtain the block was to get access to low cost low to medium risk onshore oil with excellent upside potential, the recent positive developments in the Tunisian gas market have further increased the value of Chorbane, because it also contains a number of large gas prospects. Chorbane is located very close to existing infrastructure and gas prices in Tunisia are linked to the oil price.

Although technical work has not yet been completed, two gas prospects stand out at the moment: The Sidi Daher prospect with additional shallow oil potential and the East Chaal lead.
East Chaal could be an extension of the neighbouring Candax Energy gas field which according to a Ryder Scott reserves review contains contingent resources of 854 Bcf (source: Candax Energy website). The Sidi Daher oil prospect contains a larger deeper Jurassic gas target with mean recoverable prospective resources of 350 bcf. ADX regional reservoir quality studies have shown that Sidi Daher sits in a very favourable location with regard to the Jurassic gas reservoir quality

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