SDX Energy Inc. (TSXV, AIM: SDX) Update on ONZ-7 well, Morocco

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.”

About SDX

 

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.

 

For further information, please see the website of the Company at www.sdxenergy.com or the Company’s filed documents at www.sedar.com




Linking Shareholders and Executives :Share Talk

If anyone reads this article found it useful, helpful? Then please subscribe www.share-talk.com or follow SHARE TALK on our Twitter page for future updates.

Terms of Website Use

All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned

Tags: ,
WordPress Security