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Sonde Resources reported the following operational updates of North Africa.
In March 2014, Sonde retained Taylor-DeJongh to initiate a process to explore and evaluate potential strategic alternatives to enhance shareholder value with regard to the Joint Oil Block. The process has included discussions with in excess of twenty international petroleum entities and financial institutions. Several interested parties have executed confidentiality agreements, met with management and staff and are evaluating the data provided in the virtual data room.
The preparations for drilling the Fisal-1 well have progressed. All long lead materials (casing and drilling support material) have been ordered and initial deliveries have arrived in Sfax, Tunisia (shore base).
Preparations are underway to perform the site surveys in anticipation of commencing drilling operations in early Q4 of 2014.
The 3D seismic survey acquired in late 2013 has been processed and initial evaluation of the data confirms the potential nature of the Hadaf structure in Libyan waters. Detailed interpretation work of the processed seismic data is underway.
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