SDX Energy Inc. (TSXV, AIM: SDX), the North Africa focused oil and gas company, is pleased to announce that the KSR-15 well on the Sebou permit in Morocco (SDX 75% working interest) has been completed and tested at a restricted average flow rate of conventional natural gas into the sales line of 7.52 MMscfd (million standard cubic feet per day). The well has also now been placed on production.
The KSR-16 well has been connected to the existing infrastructure and it is anticipated that test production will commence in the next 10 days. The Company will update investors on the flow rates in due course.
As per the announcement on 11 December 2017, the drilling rig will now move to the ELQ-1 prospect on the Gharb Centre permit.
Paul Welch, President and CEO of SDX, commented:
“This positive result reaffirms our ability to deliver increased rates to our customers in 2018. We now have two wells that exceed our existing daily commitments of 6 MMscfd on a stand-alone basis. We are now very confident in delivering upon our planned natural gas sales rates of 10-11 MMscfd in 2018. I look forward to reporting on the flow rates of our recently drilled KSR-16 well 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 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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