The 2nd TCM/OCM with the Tunisian National Company ETAP was hold for Kasserine and Telemzane on June 3, 2010 in Tunis. Poros budgeted the seismic acquisition cost in 2009 and will shoot the seismic in late 2009, most probably early 2010.
Poros SAS has received in 2007 a positive answer from the CCH (Consultative Committee for Hydrocarbons) in Tunisia in response to its applications for the granting of two exploration blocks in Tunisia. These two blocks, Telemzane and Kasserine, are located in the western part of southern and central Tunisia respectively.
Poros SAS entered in 2008 in negotiation with the Department of Energy of Tunisia and ETAP to finalise the agreements in order to start work on these two blocs. The agreements were signed in May 2009 and were published in the Journal Officiel de la Republique de la Tunisie in August 4, 2009. The first phase will last two years during which, Poros SAS will conduct exploration work including new seismic acquisition and interpretation of the acquired data. Decisions for drilling will be taken at the end of this period.
On March 14, 2007, a non-exclusive geological / geophysical investigation of the Ksar Ghilane block (South Tunisia) was awarded to Georex (Poros) by the Tunisian Consultative Committee on Hydrocarbons (CCH). An agreement of Authorization for Prospection was signed with the Tunisian National Petroleum Company ETAP on April 26, 2007. Data were reconstructed and reformatted using proprietary hardware and software facilities. Seismic and log interpretation is actually in process in house. Seismic interpretation covered more than 3 000 km of 2D seismic from several seismic sets. The results werebe reviewed in 2008 by a joint committee between Poros and ETAP.
