ETAP’S PARTICIPATION TO NAPE EXPO 2005
HOUSTON –TEXAS (USA) –
(JANUARY 25-27, 2005)
Within the framework of the program 2005 of
the promotion of Exploration in Tunisia, ETAP took part in the Exhibition and
the International Forum of North America Prospect Exchange "NAPE EXPO 2005"
from the 25 to January 27, 2005, via an oral communication on the exploration opportunities in Tunisia and via a
promotional stand of 9 sqm. In addition, and in connection with this event, an
ETAP delegation carried out a mission door to door to three (3) international
oil companies based in Houston which are Amerada Hess, Kerr McGee
and Maersk.
The presentation made by the ETAP delegation in those
meetings contained two parts: a technical part on the principal
indicators of the energy sector in Tunisia, the evolution of the investment in
exploration, as well as the oil potential of the various Tunisian provinces, and
a legal and contractual part leading the activities of the exploration
and the production of hydrocarbons in Tunisia and in particular the incentives
and the advantages of the new Code of hydrocarbons.
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Pioneer started an exploration well on Tuesday, February 15
th
2005
Pioneer operator of EL HAMRA
permit, with ETAP (50%), Petro-Hunt (15%) and
Eurogas (10%) as a Partners, started the drilling
of the exploration well EL HAMRA-1 on Tuesday Febrary
15th, 2005 using the CTF rig#06.
The well is located on the
South-Eastern part of the bloc.
The main objectives of the well are
the TAGI sandstone, and the Paleozoic sandstone reservoir.
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The signature ceremony of the El Jem
Exploration Permit took place on Monday, 21st of February 2005.
The El Jem permit (4224 sq km) was awarded to ETAP (100%) as a Holder and AL
THANI Corporation Ltd as a Contractor, for five (05) years initial period.
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RIGO OIL signed a production sharing contract
The signature ceremony of the Sud
Tozeur Prospecting Permit took place on Thursday, 24 February 2005.
The Sud Tozeur permit (4380 sq km) was awarded to ETAP (100%) as a Holder and
RIGO OIL COMPANY LTD as a Contractor, for two (02) years prospecting period.
RIGO OIL COMPANY LTD is committed to 500 km of seismic reprocessing and 50 km
of seismic acquisition during the prospecting period.
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Sale
of assets
CENTURION Energy International INC.
advised ETAP and reported that it has agreed to sell its Tunisian subsidiary ECUMED to CANDAX Energy Inc. ,a private Canadian
company. The Mellita permit and the accompanying
Petro-Canada farmout
are not included in the deal.
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Thursday March 17,
2005
Patch Signs a Memorandum of Understanding With Carthago
Patch International (Canadian Company) announces that the company
has signed a memorandum of understanding with Carthago Oil Company
Tunisia, (Carthago), in North Africa.
It has the right to acquire up to 40% of the Medjerda Block by
committing approximately $4,000,000 to fund a work program which
includes the drilling of one well. The company has until April 30,
2005 to sign a farm-in agreement and until June 30, 2005 to reach
a transfer agreement and joint operating agreement.
