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  • SDX ENERGY INC. : Oil discovery at Rabul 5 Well, West Gharib Concession, Egypt
    édité le 14/03/2018 - Plus de news de "SDX" - Voir la fiche entreprise de "SDX"


SDX ENERGY INC. : Oil discovery at Rabul 5 Well, West Gharib Concession, Egypt
SDX Energy Inc., the North Africa focused oil and gas company, is pleased to announce that an oil discovery has been made at its Rabul 5 Well in the West Gharib Concession in Egypt (SDX 50% Working Interest & Joint Operator).

The well was drilled to 5,280 feet total depth and encountered approximately 151 feet of net heavy oil pay across the Yusr and Bakr formations, with an average porosity of 18%. Further evaluation of the discovery is ongoing, after which the Company expects the well to be completed as a producer and connected to the central processing facilities at Meseda.

Following completion of the Rabul 5 well the Company will move on to the Rabul 4 location, the second of two appraisal wells planned for the Rabul feature this year.

Paul Welch, President and CEO of SDX, commented:
"We are pleased to continue our recent run of drilling success with this oil discovery at Rabul 5. This well encountered the thickest section of pay sands seen in the Rabul area to date, demonstrating the significant oil potential contained within the licence. We have further drilling activity planned for the concession over the coming months and we firmly believe that these activities will enable us to increase output from the licence and achieve our ambitious production plans for 2018.”

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

Voir la fiche entreprise de "SDX"



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