However, based on interpretation of MWD (measurement while drilling) logs, the formation is considered to be water bearing.
The current 12¼” hole section has now been drilled to a depth of 2216m and preparations are currently underway to set and cement the 9 5/8″ casing prior to drilling on in a 8½” hole into the primary target, the Abiod carbonate formation.
Gulfsands is acquiring a 30% participating interest in the Kerkouane License and Pantelleria Permit.
Gulfsands also expects to participate in the drilling of another exploration well before the end of 2010 in the onshore Chorbane permit, to earn a 40% participating interest.
