Both permits previously belonged to Canada’s Stratic Energy, which has agreed to sell the blocks for $1 million cash each.
AuDAX told the market yesterday that it would earn 100% of permit GR.15.PU, located offshore the island of Pantelleria, southwest of Sicily.
“Following our recent acquisition of the Kerkouane block in Tunisia, I am very pleased that we could acquire the adjacent exploration block in Italian waters,” AuDAX managing director Wolfgang Zimmer said.
“The identified key prospect in the Pantelleria permit GR.15.PU has a significantly large recoverable resource potential.”
AuDAX plans to mature this “most promising prospect” into drill-ready status in the next few months.
In addition to this technical work, AuDAX is required to complete the required permit administration, receive environmental approvals for offshore drilling and secure an offshore rig.
