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  • Gas discovery at KSR-14 development well, Morocco
    édité le 11/10/2017 - Plus de news de "SDX" - Voir la fiche entreprise de "SDX"


Gas discovery at KSR-14 development well, Morocco
Further to the spud announcement on 18 September 2017, SDX Energy Inc., the North Africa focused oil and gas company, is pleased to announce that a gas discovery has been made at its KSR-14 development well on the Sebou permit in Morocco (SDX 75% Working Interest).

The KSR-14 well was drilled to a total depth of 1830 meters and encountered 20 meters of net conventional natural gas pay in the Guebbas and Hoot formations over 4 intervals. The initial results have exceeded pre-drill estimates, and work is currently underway to further evaluate the well’s accurate recoverable volume estimate.

Once the drilling rig has left the location, the Company expects that the well will be connected to the existing infrastructure and produced. The well is anticipated to be on production in approximately 30 days.

Paul Welch, President and CEO of SDX, commented:
"This positive result follows the Company’s recent oil discovery at our West Gharib Concession in Egypt and demonstrates the real momentum developing across our portfolio. This outcome in Morocco is an excellent start to our nine well programme, where we are targeting an increase in our local gas sales volumes in Morocco by up to 50%. I look forward to reporting on the flow rates from today’s KSR-14 discovery and last week’s Rabul 2 discovery in the near term along with updating our shareholders on further progress on our South Disouq Development activities in due course.”

About SDX

SDX (TSXV, AIM: SDX) is an international oil and gas exploration, production and development company, headquartered in London, England, UK, with a principal focus on North Africa. In Egypt, SDX has a working interest in two producing assets (50% North West Gemsa & 50% Meseda) located onshore in the Eastern Desert, adjacent to the Gulf of Suez. In Morocco, SDX has a 75% working interest in the Sebou concession situated in the Rharb Basin. These producing assets are characterised by exceptionally low operating costs making them particularly resilient in a low oil price environment. SDX’s portfolio also includes high impact exploration opportunities in both Egypt and Morocco.


Origine : Communiqué SDX

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