Drilling Tenders Sent for Bid; Sambuca Prospect Oil and Gas Exploration Speeds Ahead of Schedule
World Energy Research, along with partner AuDAX Resources, proudly announce circulation of 15 drilling tenders, bringing the companies one step closer to fulfilling their ambitious timetable for energy exploration in the Mediterranean.
Seattle, Wash. (PRWEB) August 3, 2009 -- Leading energy exploration companies World Energy Research and AuDAX Resources (ASX:ADX) are pleased to report they circulated 15 drilling tenders for oil and gas drilling in the Sambuca Prospect, a Mediterranean field straddling undersea areas in both Italy and Tunisia.
"We look at the Sambuca Prospect as step one in a comprehensive energy exploration strategy throughout the region. We have already begun work identifying potential oil and gas in a nearby area, the Dougga Field, and hope to begin drilling there when our work with the Sambuca Prospect is complete," said AuDAX Managing Director Dr. Wolfgang Zimmer.
Oil and gas drilling in the Sambuca Prospect is the first venture to unite fields in Italy and Tunisia. Under the capable leadership of Dr. Zimmer and World Energy Research Managing Director Chad Willis, energy exploration is proceeding rapidly in the Sambuca Prospect, a very impressive feat since experts think the field is one of the largest remaining undrilled structures in the Mediterranean Sea, with a total P50 unrisked recoverable resource potential of 270 million barrels of oil equivalent. AuDAX currently has drilling preparations underway in both the Sambuca Prospect and the Dougga Field.
World Energy Research and AuDAX hope to work quickly on oil and gas in the Sambuca Field and use the momentum through that success allowing Audax to speed up energy exploration in the nearby Dougga Field. Early appraisals of the field, which is only 12 km away, are very promising - up to $2.6 billion US in oil and gas deposits may be in the field.
The total P50 unrisked recoverable resource of the mapped prospects in both permits could exceed one billion barrels of oil equivalent.
About World Energy Research
World Energy Research leads the way in four key areas - oil and gas, ocean turbines, solar and wind energy. Headed by a group with deep knowledge and experience in key aspects of the energy sector, investors can be confident in the quality of energy sector investment opportunities. For more information, visit www.worldenergyresearch.com.
About AuDAX Resources Ltd.
Based in Australia, AuDAX Resources Ltd. develops international properties with significant promise in oil and gas, base metals and other commodities. Their energy exploration activities are backed by geotechnical expertise.
Media Contact
World Energy Research
649-359-7492
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