SDX Energy Inc. (TSXV, AIM: SDX), the North Africa focused oil and gas company, is pleased to announce that the ONZ-7 well on the Sebou permit in Morocco has been completed and tested.
Using a 48/64″ choke, the ONZ-7 well achieved an average flow rate of conventional natural gas of 10 MMscf/d (million standard cubic feet per day). The well will now be shut in for several days for a pressure build-up after which it will be connected to the local infrastructure.
Paul Welch, President and CEO of SDX, commented:
“Today’s positive update on ONZ-7 reaffirms our view that the Sebou permit has the potential to be highly cash generative for SDX. Furthermore, the maximum flow rate during this test of 15.34MMscf/d is the highest achieved to date in the basin. This provides us with further confidence in being able to deliver our gross production target of 8-10MMscf/d of conventional natural gas in Morocco by the end of 2018.”
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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