Tunis Technical Meeting

24/02/2010

On February 24th, PetroAsian Enegry representatives attended the Tunis Technical Meeting hosted by Petroceltic, which included various partners and Tunisian government officials from ETAP. Petroceltic indicated that a key milestone had been reached on the project, which was to agree on the drilling locations for two wells on the Ksar Hadada Permit and thus, to fulfill the commitments for the ‘First Renewal Period’ of the permit license. 

Firstly, Petroceltic’s Senior Exploration Manager, Dermot Corcoran, explained the background on selecting the well locations by reviewing the six new seismic lines, which were acquired by CGGVeritas. Furthermore, Senior Geophysicist, Paul Ryan confirmed how the new data showed prominent primary oil source rock in the area, and that a potential source kitchen was also present in the area. 

Secondly, Petroceltic’s Senior Drilling Engineer, Steve Guy, continued by presenting the well designs for both the Oryx and Sidi Toui. 

Finally after the meeting, ETAP officials endorsed our proposal with official approval to drill the 2 proposed wells and wished us the very best of luck!