SDX Energy Inc. provides update on drilling operations in Morocco
Tuesday, Jan 09, 2018
SDX Energy Inc. (TSXV, AIM: SDX), the North Africa focused oil and gas company, is pleased to announce that the KSR-16 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 8.43 MMscfd (million standard cubic feet per day). The well has also now been placed on production.

The drilling rig is in the process of completing the move to the ONZ-7 location and this well is anticipated to spud prior to the week end.  An announcement concerning the spud of ONZ-7 is expected to be sent under separate cover when appropriate.

Paul Welch, President and CEO of SDX, commented:

"This positive result on KSR-16 again exceeds our expectations for flow rates.  It is the highest flow rate of the three successful wells drilled to date and we now have three wells that exceed our existing daily commitments of 6 MMscfd on a stand-alone basis. We are actively working towards connecting new customers to our existing infrastructure and are now very confident that we can deliver on our forecast gas sales rates of 10-11 MMscfd in 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 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.

For more information, please visit: http://www.sdxenergy.com

Find out more about European Oil and Gas from NewsBase