Antrim Drills Duster in Tunisia
Antrim Energy reports that the drilling operations to deepen the Chott Fejaj #3A well in Tunisia have been completed. The well, which was drilled to a depth of 4637 meters is to be plugged and abandoned. No significant oil or gas zones were encountered in the well.
The Chott Fejaj #3A well is part of a long term exploration program on the 770,000 acre Fejaj Permit in Tunisia. Antrim retains a 34% interest in the permit with several large seismically defined targets yet to be drilled, each similar to the world class oil and gas filled structures in the neighboring Berkine Basin, Algeria.
Stephen Greer, Chairman & CEO, notes that "although the results from the Chott Fejaj #3A well were disappointing, Antrim was carried by third parties for much of the well's cost. The Tunisian well is one of a series of potentially high impact exploration wells Antrim has scheduled to be drilled this year. Exploration drilling is expected to commence on Antrim's concessions in Argentina the second quarter of this year followed by an offshore exploration well in Australia. With the company's solid revenue from production and over $9 million in cash with no debt, Antrim is well financed to complete its ambitious program of exploration."