Gulfsands Petroleum disappoints in Tunisia

Gulfsands Petroleum, an oil and gas company, has said it has been advised by ADX Energy, the operator of the Chorbane licence in Tunisia, that despite good flow rates from the two reservoir zones, the fluids did not contain any oil.

Gulfsands Petroleum, an oil and gas company, has said it has been advised by ADX Energy, the operator of the Chorbane licence in Tunisia, that despite good flow rates from the two reservoir zones, the fluids did not contain any oil.

Following the drilling out of the safety plug within the previously suspended well, two separate intervals within the Bireno Formation have been perforated and flow tested. The initial interpretation from the well site is that the recovered fluid is a mixture of spent acid, drilling mud filtrate and formation water.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.