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SDX Energy Begins First Of Four Well Drill Programme At South Disouq

Mon, 26th Mar 2018 15:15

LONDON (Alliance News) - SDX Energy Inc said Monday it has spudded its Ibn Yusuf-1X exploration well on its South Disouq concession in Egypt.

The well, which should take a month to drill, will target the same natural gas bearing Abu Madi intervals discovered at its SD-1X well in April last year, and is the first of a four-well programme at South Disouq.

The following two wells will be appraisal wells, and the final one will be an exploration well.

SDX said its development plan forecast, approved by Egyptian authorities, forecasts a top rate of 50 million cubic feet of gas per day, which could go up to 100 million cubic feet per day with any further discoveries.

Chief Executive Paul Welch said: "I am very excited to be back drilling in the South Disouq concession. The success of the SD-1X well proved the existence of source rock in this area which was our biggest uncertainty pre-drill. The technical work that's been completed by our team after the first successful well has provided us with additional confidence in our ability to identify conventional natural gas bearing intervals within the 3D seismic data set.

"We currently have over 300 kilometres squared of 3D seismic in the block with identified potential of up to 2 trillion cubic feet (gross) of conventional natural gas. Success at Ibn Yunus will de-risk a large portion of that volume which would be very significant for our shareholders."

Shares were trading flat on Monday at 50.00 pence each.

More News
3 May 2024 15:50

IN BRIEF: SDX Energy completes drilling operations in Rharb Basin

SDX Energy PLC - London-based energy company with exploration, development and production assets in Egypt and Morocco - Completes drilling operations on the BMK-2 well, located in the Rharb Basin, Morocco. "At 1,265 metres in the Guebbas formation, the well encountered a 9-metre interval, believed to be equivalent to the well's primary target, with strong gas shows up to approximately 100 times background gas readings. The well was drilled to its total depth of 1,412 metres, and has been left temporarily suspended with a plug set to allow the well to be sidetracked, to the target formation at 1,265 metres, once the required equipment has been mobilised," says SDX.

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29 Apr 2024 14:08

SDX Energy says KSR-21 begins producing gas upon government approval

(Alliance News) - SDX Energy PLC on Monday said that that the KSR-21 well in Morocco has received necessary government approvals and gas production has commenced.

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24 Apr 2024 14:26

TRADING UPDATES: 88 Energy firms bookbuild; Gama Aviation inks deal

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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19 Apr 2024 10:29

SDX Energy signs deal to dispose of West Gharib interests in Egypt

(Alliance News) - SDX Energy PLC on Friday said it has executed a binding sale and purchase agreement for the disposal of its West Gharib interests in Egypt.

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3 Apr 2024 14:27

SDX Energy commences drilling at well in Rharb basin, Morocco

(Alliance News) - SDX Energy PLC on Wednesday said it began drilling the Beni Malek-2 well in the Rharb basin, Morocco.

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3 Apr 2024 13:18

SDX starts drilling BMK-2 well in Morocco

(Sharecast News) - SDX announced the start of drilling operations for the Beni Malek-2 well (BMK-2) in the Rharb Basin of Morocco on Wednesday, situated 1.5 kilometres from the BMK-1 discovery well.

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27 Nov 2023 20:02

TRADING UPDATES: Live Co to cut jobs; SDX Energy in strategy shift

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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27 Nov 2023 15:58

SDX Energy pivoting away from Egyptian assets

(Sharecast News) - SDX Energy updated the market on its strategic transformation on Monday, shifting its focus from solely an oil and gas business to becoming an integrated, hybrid energy provider in Morocco.

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22 Nov 2023 14:20

EXECUTIVE CHANGES: Ocean Harvest catches new CFO, Titon hires new CEO

(Alliance News) - The following is a round-up of London-listed company director and manager changes announced on Wednesday and not separately reported by Alliance News:

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31 Oct 2023 17:58

TRADING UPDATES: Schroders Capital Global investee to be bought out

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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5 Oct 2023 14:17

SDX Energy receives $1.9m pre-payment from Citic subsidiary

(Sharecast News) - Exploration and production company SDX Energy revealed on Thursday that it has received a payment of roughly $1.9m from a Citic Group subsidiary in relation to a gas pre-payment head of terms agreement.

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5 Oct 2023 10:16

AIM WINNERS & LOSERS: SDX Energy receives gas prepayment from Citic

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Thursday.

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5 Oct 2023 09:56

SDX Energy shares surge on gas prepayment for Morocco well drilling

(Alliance News) - SDX Energy PLC on Thursday said it received around USD1.9 million from Dika Morocco Africa as part of a gas prepayment heads of terms announced in September.

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29 Sep 2023 11:51

EARNINGS: Ebiquity swings to profit; SDX Energy swings to loss

(Alliance News) - The following is a round-up of earning and trading updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

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28 Sep 2023 16:05

SDX Energy finds gas-charged sands in new well

(Sharecast News) - SDX Energy announced the successful drilling of the KSR-21 well on Thursday, achieving its target vertical depth of 1,955 metres, or 1,966 metres when considering the measured depth.

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