Tunisia

Echo, through a wholly owned subsidiary, holds a 100 per cent interest in the Ksar Hadada exploration permit covering an area of 2,252 square kilometres onshore south-east Tunisia.

The extension to this permit was granted in 2016 and its status as the operator of the permit was confirmed in August 2014.

Recent light oil discoveries in the Ordovician immediately to the south of the block have now validated the potential of the Ksar Hadada Ordovician prospects. Across the border in Libya very high oil production rates have been achieved on test from multiple Acacus wells, providing added attraction to the Acacus play on Ksar Hadada.

As a result of the extensive remapping work and new seismic acquisition undertaken by Independent Resources and its partners over the last few years, existing prospects have been better defined (Sidi Toui structure) within the Ksar Hadada permit area in the Ordovician Bir Ben Tartar quartzites.

Echo is undertaking a strategic review of its interests in Tunisia