Project Profile
Value: Undisclosed
Location: Near the Algerian border and adjacent to the Sabria and El Franig fields, Tunisia
Reserves: 66 MMboe
Area: 4,380 km2 (1,082,283 acres)
Water Depth: 4,000 to 4,500 metres
Start-up Year: -
Located near the Algerian border and adjacent to the Sabria and El Franig fields, the Sud Tozeur Permit covers an area of 4,380 km2 (1,082,283 acres). CYGAM held a 100% working interest in the permit and was looking for JV agreements to help explore net unrisked potential of 66 MMboe. But, in April 2015, Cygam Energy filed for bankruptcy in Canada, having already suspended all funding to its Tunisian operation and workforce. Yug-Neftegaz Exploration had already signed a sale and purchase agreement for the 100% interest at Sud Tozeur in April 2014, according to reports.
The Sud Tozeur Exploration Permit was officially granted on July 5, 2007, with a drilling commitment of four years. Subsequently, this permit has been extended to May 2013. A seismic program including 200 km2 planned for mid-2013 will be integrated with older, extensive seismic data in order to select the most promising drillable prospects, with potential drilling dates to be determined for early 2013.
One of the potential locations is offsetting a well drilled in late 1997 (SN #1) which encountered very high pressure and numerous oil and gas shows in the Triassic, Ordovician and Cambrian Formations. A core, cut at the Triassic-Ordovician interface, was oil-stained and several prospective intervals were highlighted by log analysis. Open-hole testing was deemed too dangerous as a result of high pressures, with production casing set to a total depth of 4,677 m. Testing through casing perforations failed to produce hydrocarbons, likely because heavy drilling fluids and cement invasion caused severe damage to the reservoir. During 2009 and 2010, several structures on the large Sud Tozeur Permit were evaluated. New detailed log evaluation by an independent log expert confirms that several intervals in the Triassic, Ordovician, and Cambrian Formations are hydrocarbon bearing. Preliminary mapping has also identified additional un-drilled structures on trend with the Sabria Production Concession and nearby Algerian fields
Operators:
Yug-Neftegaz Exploration (Tunisia): Operator with 100% working interest