SDX Energy PLC (LON:SDX) Successful MSD-19 Well at West Gharib Concession, Egypt

Mark Reid, CFO and Interim CEO of SDX, commented: We are pleased to announce a further drilling success with our MSD-19 well in the West Gharib Concession, which follows the positive result in the Rabul-7 well in June.

The well was brought online in a timely and cost efficient manner and will provide further support to our 2019 production guidance for this asset of gross 4,000-4,200 bbl/d.

Further development wells are planned for the Concession in the next 18 months, with the final location of these wells being dependent on government approvals. A further update on future drilling will be provided to the market in due course.

 

Successful MSD-19 Well at West Gharib Concession

SDX Energy plc (AIM: SDX), the North Africa focused oil and gas company, is pleased to announce that the MSD-19 development well in the West Gharib Concession in Egypt (SDX 50% Working Interest & Joint Operator) has encountered a commercial oil accumulation.

The well was drilled to a total depth of 4,665 feet and encountered approximately 135 feet of net heavy oil pay across the Asl Formation, with an average porosity of 24%. The well was completed as a producer, connected to the central processing facilities at Meseda and brought online at an average stabilised rate over five days of approximately 315 bbl/d (gross).

 

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