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 SAH-2 well on the Sebou permit in Morocco.
The SAH-2 well was drilled to a total depth of 1,304 meters and encountered 5.2 meters of net conventional natural gas pay across two zones in the Guebbas and Hoot formations with an average porosity in the pay section of 33%. The well came in on prognosis but with a reservoir thickness above pre-drill expectations.
The well will now be completed, tested and connected to existing infrastructure. SDX expects to provide a further update on testing results in early April.
Paul Welch, President and CEO of SDX, commented:
“We are very pleased to be able to announce another discovery, the fifth from seven wells drilled to date in our nine well Moroccan campaign.
This was also the first well in the Gharb basin that was successfully drilled using downhole directional tools which allowed us to penetrate the crest of two individual targets with a single well-bore. We will use these tools when drilling our next well, LNB-1, an exploration well in our Lalla Mimouna concession, for a similar reason. By successfully targeting the crests of specific horizons, we now have the ability to improve the recovery efficiency from individual wells.
I look forward to updating all our stakeholders on the production testing results of the SAH-2 and the spud of the LNB-1 in due course.”
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 Gharb 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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