Atlas Petroleum Exploration Worldwide, Ltd (“APEX”), incorporated in 2003, is an international independent petroleum company engaged in the acquisition, exploration, development and operation of oil and natural gas properties. The company’s primary objective is to evaluate and develop already-discovered reserves not strategic to major or larger independent oil and gas companies, and to explore for oil and natural gas deposits in proven geologic provinces with established oil and natural gas infrastructure.
The company is currently operating in Tunisia and serves as operator in the Ras El Besh Field Concession area which is currently under development and in which the Company has a 55% participating interest under the provisions of the Production Sharing Contract with the National Oil Company. APEX also serves as the active license partner for the company’s exploration assets including the Sfax Offshore Exploration Permit located in the Gulf of Gabes which contains more than one million acres considered to be highly prospective for the multiple reservoirs already proven in the permit and surrounding area. Tunisia is one of the few places in the world where large tracts of highly prospective acreage can be accumulated and the geological conditions within the Sfax Offshore Exploration Permit are proven to be excellent for sizable petroleum accumulations. A strong and growing domestic need for both crude oil and natural gas provides expanding and nearby markets for APEX production.