Gulfsands Petroleum says that ADX Energy Ltd the operator of the Kerkouane Exploration Licence offshore Tunisia (Kerkouane Licence) and the adjacent Pantelleria Exploration Permit in Southern Italy (G.R15.PU, known as the Pantelleria Permit) has provided the following update on operations on the Lambouka-1 well.

The Company can now confirm that the joint venture has elected to suspend the Lambouka -1 well. Suspension will allow re-entry at a later date and provide the best opportunity to minimise rig time and maximise reservoir information expected to be acquired in the drilling and production testing of a side-track hole in the Aboid Formation up-dip of the existing gas discovery.

Gulfsands has earned a 30% participating interest in the Kerkouane Licence and Pantelleria Permit. Gulfsands also expects to participate in the drilling of another exploration well before the end of 2010 in the onshore Chorbane permit, to earn a 40% participating interest (see announcement of 18th May 2010).

Tags: Gulfsands Petroleum plc