Middle East Economic Survey

VOL. LIII

No 49

6-Dec-2010

tunisia

ADX Farms Out Further 10% Of Chorbane Permit

ADX Energy has farmed out a further 10% of its interest in Tunisias onshore Chorbane Permit in a $1.35mn deal with Verus Investments. ADX will receive $250,000 for back costs following execution of the agreement and the remaining amount by 3 December. Verus will earn its stake in the 2,428 sq km block upon the completion of the Sidi Daher-1 well, which is set to be spudded in January...