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Share Price: 3.85
Bid: 3.80
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Change: 0.00 (0.00%)
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SDX makes gas discovery on Egypt well

Mon, 23rd Jul 2018 15:12

(Sharecast News) - North Africa-focussed oil and gas company SDX Energy announced on Monday that a gas discovery has been made at its SD-3X well in the South Disouq Concession in Egypt, where it holds a 55% working interest as the operator.The AIM-traded firm said SD-3X well was drilled to a total depth of 7,842 feet, and encountered 32.6 feet of net conventional natural gas pay in the Abu Madi and Kafr el Sheik horizons, with an average porosity in the pay sections of 21.7%.It said the SD-3X well would now be completed as a producer in the Abu Madi horizon, and then tested after the drilling rig was moved off location.In order to optimise the potential recovery from the SD-3X well, the Abu Madi horizon would be completed and produced initially before re-entering the well to complete and produce the Kafr el Sheik horizon.The Abu Madi testing was anticipated to begin between 30 and 45 days after the rig departed, depending on the availability of testing equipment.Assuming a successful test in the Abu Madi, SDX said it anticipated that the well would be connected to the infrastructure located adjacent to the original SD-1X discovery, where production start-up was anticipated late in the fourth quarter of 2018."The discovery of gas in both the Abu Madi and Kafr el Sheik horizons is a very positive outcome for the SD-3X well," said SDX president and CEO Paul Welch."As demonstrated by the Ibn Yunus discovery earlier this year, the Kafr el Sheik horizon is an excellent quality productive sequence."Welch said the SD-3X discovery had confirmed that the horizon was "extensively present" throughout the concession."We will now analyse the data from all four wells drilled in the South Disouq campaign, as well as reprocessing and inverting the existing 3D seismic we have on the concession."Upon interpretation of this data, and completion of the new 3D survey later this year, we expect to identify further Abu Madi and Kafr el Sheik prospectivity for drilling in 2019 and 2020."With our drilling activities completed, we will now focus on the completion of the South Disouq processing facility and pipeline infrastructure with a view to achieving first production by the end of 2018."
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26 Nov 2018 11:13

SDX Energy enjoys fruitful quarter, warns of Dissouq delay

(Sharecast News) - North Africa focused oil and gas company SDX Energy shares dropped on Monday as it warned of later first production from its South Dissouq gas project but said the third quarter was "one of the best" in its history.

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17 Aug 2018 16:26

Tests at SDX Energy's South Disouq well exceed expectations

(Sharecast News) - Oil and gas company SDX Energy on Friday confirmed that a production test has successfully been completed at its SD-3X appraisal well at South Disouq, Egypt.

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26 Mar 2018 15:15

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

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 a

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23 Mar 2018 12:47

SDX Energy Swings To Income In 2017 With Gains From Circle Oil Assets

LONDON (Alliance News) - SDX Energy Inc said on Friday it swung to a total comprehensive income in 2017, through its acquisition of the Egyptian and businesses of Circle Oil a

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21 Mar 2018 12:51

SDX Energy Completes Sebou Permit Well And Spuds LNB-1 Well

LONDON (Alliance News) - North Africa-focused oil and gas company SDX Energy Inc said on Tuesday it successfully completed and tested the SAH-2 well on in

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14 Mar 2018 12:48

SDX Energy Discovers Oil At Rabul 5 Well In West Gharib, Egypt

LONDON (Alliance News) - North Africa-focused oil and gas company SDX Energy Inc said on Wednesday it has made an oil discovery at the Rabul 5 Well in the

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14 Mar 2018 12:48

SDX Energy Discovers Oil At Rabul 5 Well In West Gharib, Egypt

LONDON (Alliance News) - North Africa-focused oil and gas company SDX Energy Inc said on Wednesday it has made an oil discovery at the Rabul 5 Well in the

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9 Mar 2018 11:22

SDX Energy Discovers Gas At SAH-2 Well On Moroccan License

LONDON (Alliance News) - SDX Energy Inc said Friday that it has discovered gas at the SAH-2 well on the Sebou permit in Morocco."We are very a

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27 Jan 2017 08:56

SDX Energy buys Egypt and Morocco oil assets for $30m

(ShareCast News) - Oil and gas explorer SDX Energy has bought Circle Oil's subsidiaries in Egypt and Morocco for about $30m. The acquisitions are expected to increase working production by 247% to about 4,705 barrel of oil equivalent per day and its net working interest 2P reserves will grow by 64%

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14 Nov 2016 14:12

SDX Energy upbeat on Egyptian concessions

(ShareCast News) - North Africa focused oil and gas company SDX Energy provided an operational update on its South Disouq and Meseda concessions in Egypt on Monday. The AIM-traded firm had previously announced on 10 October that SDX's initial assessment of the 3D seismic data at South Disouq was pos

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10 Oct 2016 11:48

SDX Energy shares up on early seismic results

(ShareCast News) - Egypt-focused oil and gas company SDX Energy updated the market on its initial findings from interpretation of the 300 sq km of 3D seismic data acquired over its South Disouq concession in the first half of 2016. The AIM-traded firm said data processing commenced in June and the f

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25 Jul 2016 08:40

SDX Energy Completes Second Tranche Of Private Placement (ALLISS)

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13 Jun 2016 08:47

SDX Energy Completes South Disouq Seismic Data Acquisition Programme

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26 May 2016 13:49

SDX Energy Progresses Egyptian Assets, Notes High Margin Production

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