OilVoice - Poros Commences Reprocessing Phase in Tunisia

Poros Commences Reprocessing Phase in Tunisia

Wednesday, December 09, 2009

Poros SAS announces the commencement of reprocessing phase for both Kasserine and Telemzane blocks in Tunisia. The successful bidder, once approved by ETAP (Entreprise Tunisienne d’Activites Petrolieres), will provide seismic services for the reprocessing of 2D Seismic on the two permits. Following the interpretation of the existing seismic Poros expects to acquire new 2D seismic over a number of leads and prospects in the last quarter of 2010.

Preliminary evaluation of both permits based on collected seismic and well data demonstrates for both areas an exploration potential with several already identified leads in structural compartments. Reprocessing is required to confim this and will employ latest technology for deep reservoir targets.

The company has a 100% contractor interest in Kasserine and Telemzane blocks with a work commitment, for each block, consisting of a minimum of 250 kilometres of 2D seismic in the first two years of the prospecting period and one exploration well during the subsequent exploration period.

The Kasserine block covers 5,108 square kilometres (1,262,480 acres), and is located onshore in the Chotts Basin of west central Tunisia. The block lies north of Gafsa and south of Douleb and Tamesmida fields, which have produced to date approximately 25 million barrels of light oil from the Serdj formation.

The Telemzane block covers 5,380 square kilometres (1,329,430 acres), and is located onshore in the Ghadames/Chotts Basins in south central Tunisia. The block lies south of El Franig and Baguel gas/condensate fields, which have produced to date approximately 22 million barrels of oil equivalent from the El Hamra formation, and the Sabria oil field which has produced 3.8 million barrels of oil from the El Hamra formation.