{"id":39093,"title":"SDX Energy Inc (TSXV, AIM: SDX) Result of KSS-2 well, Morocco","publisher":"Share Talk","author":"sharetalk","published":"2018-02-21T10:23:14+00:00","modified":"2018-02-21T10:23:14+00:00","canonical_url":"https://www.share-talk.com/sdx-energy-inc-tsxv-aim-sdx-result-of-kss-2-well-morocco/","markdown_url":"https://www.share-talk.com/sdx-energy-inc-tsxv-aim-sdx-result-of-kss-2-well-morocco.md","json_url":"https://www.share-talk.com/sdx-energy-inc-tsxv-aim-sdx-result-of-kss-2-well-morocco.json","category":"Energy","categories":["Energy"],"tags":["oil","SDX","sdx energy"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&quality=89&ssl=1","format":"news","language":"en-GB","content":"SDX Energy Inc. (TSXV, AIM: SDX), the North Africa focused oil and gas company, announces that the KSS-2 well on the Sebou permit in Morocco was drilled to a total depth of 1293 meters encountering 8 net meters of high quality reservoir interval in the Gaddari and Guebbas sequences with an average porosity of 30%.  However, whilst the intervals came in on prognosis, they had low gas saturation and were not deemed to be commercial.\n\n \n\nThe KSS-2 well is the sixth in the Company’s current nine well campaign, of which four wells have been commercial discoveries.  As a result of the campaign’s success to date, the result of the KSS-2 well is not expected to impact the Company’s previously announced planned production increase in Morocco in 2018.\n\n \n\nUnlike the previously drilled targets, the KSS-2 prospect was on the upthrown side of the main bounding fault in the Ksiri area.  This fault appears to have isolated the KSS-2 well from the source rock, resulting in low gas saturations.  The next well in the campaign, the SAH-2 well, will be located on the downthrown side of the fault, drilling a similar structure to the Company’s recently successful wells.  The Company therefore believes that the reservoirs targeted by the SAH-2 well will have a higher probability of being commercially charged than the KSS-2 well.\n\n \n\nThe KSS-2 well will now be plugged and abandoned and the drilling rig will move to the SAH-2 drilling location.\n\n \n\n**Paul Welch, President and CEO of SDX, commented:**\n\n \n\n“Whilst the KSS-2 well was not a commercial success, we are viewing this one result in the context of what is already a very successful drilling campaign with four out of six discoveries to date. Using directional drilling equipment for the first time in the basin, we drilled a step out location in order to try to prove up a new concept, and potentially new volumes.  Whilst KSS-2 was not successful, our belief is that this result proves that the main bounding fault provides a good seal and therefore gives us a further confidence in the forthcoming prospects. We are looking forward to drilling the final three wells in this programme and reporting on their results in due course.”\n\n**About SDX**\n\n \n\nSDX 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.\n\n \n\nFor further information, please see the website of the Company at [www.sdxenergy.com](http://www.sdxenergy.com/) or the Company’s filed documents at [www.sedar.com](http://www.sedar.com/). "}