Tunisia: Candax adding interests in two oil fields

    Jan. 5, 2012
    Candax Energy Inc., Calgary, will acquire interests in Ezzaouia and El Bibane oil producing fields in Tunisia from PA Resources AB, Stockholm, for $4 million, subject to partner and government approval.

    Candax Energy Inc., Calgary, will acquire interests in Ezzaouia and El Bibane oil producing fields in Tunisia from PA Resources AB, Stockholm, for $4 million, subject to partner and government approval.

    A Candax subsidiary operates the fields, which produce a combined 100 b/d net to the PA Resources interests from net proved and probable reserves of 500,000 bbl of oil equivalent. PA Resources working interests are 13.6% in Ezzaouia and 23.9% in El Bibane.

    About the Author

    Alan Petzet | Chief Editor Exploration

    Alan Petzet is Chief Editor-Exploration of Oil & Gas Journal in Houston. He is editor of the Weekly E&D Newsletter, emailed to OGJ subscribers, and a regular contributor to the OGJ Online subscriber website.

    Petzet joined OGJ in 1981 after 13 years in the Tulsa World business-oil department. He was named OGJ Exploration Editor in 1990. A native of Tulsa, he has a BA in journalism from the University of Tulsa.

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