Tunisia

By OGJ editors
HOUSTON, Aug. 27 – A group led by PetroAsian Energy Holdings Ltd. has spudded the Sidi Toui-4 exploratory well on the 5,608-sq km Ksar Hadada permit in southeastern Tunisia adjoining Ghadames basin discoveries to the south in Libya.

The highly deviated well is being drilled to an Ordovician Bir Ben Tartar formation oil target projected to be at 1,095 m true vertical depth, 1,627 m measured depth. Dry hole cost is $6.14 million.

PetroAsian is funding the well, second in a two-well program. The first well, Oryx-1, went to 1,140 m and found no commercial oil accumulation in upper and lower Ordovician units.

PetroAsian has 52.96% working interest, Independent Resources PLC has 18.97%, and Petroceltic International PLC has 28.07% in the block.