SDX Energy Inc. (TSXV, AIM: SDX), the North Africa focused oil and gas company, is pleased to announce that a gas discovery has been made at its ONZ-7 development well on the Sebou permit in Morocco.
The ONZ-7 well was drilled to a total depth of 1,167 meters with 5 meters of net conventional natural gas pay in the Hoot formation. The well came in on prognosis but reservoir quality exceeded initial expectations, encountering porosity in the pay section of 35.3%.
The well will now be completed, tested and connected to existing infrastructure. SDX expects to provide a further update on testing results in early February.
Paul Welch, President and CEO of SDX, commented:
“We are very excited to be able to announce another discovery, the fourth from five wells drilled to date in our nine well Moroccan campaign.
For this well we used our own high resolution 3D seismic data, as we have for the other successful wells and as we will for the remainder of the campaign.
We look forward to updating all our stakeholders on the progress of our KSS-2 prospect, the next well to be drilled.”
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.
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