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(Sharecast News) - Middle East and North Africa-focussed SDX Energy announced the start of the second phase of its 2021 drilling campaign in Morocco on Friday.
The AIM-traded firm confirmed the campaign had begun with the spud of the KSR-19 well.
It said KSR-19 would be followed by the SAK-1 well which, if successful, would open a new exploration area for SDX in its Lalla Mimouna Sud concession.
"I am pleased to announce that the company has commenced the second phase of its 2021 drilling campaign in Morocco," said chief executive officer Mark Reid.
"This second phase will consist of two wells with the objective of adding reserves to allow us to continue to deliver gas to our customers in line with their contractual requirements.
"Furthermore, with SAK-1, we hope to open a new exploitation area at Lalla Mimouna Sud to the west of our core producing area."
At 1040 GMT, shares in SDX Energy were down 0.73% at 9.93p.
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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