Good News8 Apr 2020 08:39
Commercial discovery at Sobhi well in Egypt
SDX Energy Plc (AIM: SDX), the MENA-focused oil and gas company, is pleased to provide an update on drilling operations at the SD-12X ("Sobhi"; SDX 100% working interest) well in the South Disouq Exploration Permit onshore Nile Delta, Egypt (SDX 55% working interest).
The well has been drilled to a measured depth of 7,245 feet, encountering 108 feet net of high-quality gas-bearing sands, with an average porosity of 20%, near the base of the Kafr El Sheikh (KES) formation. The top of the KES sand was encountered at a measured depth of 6,506 feet. Management's best estimate is that the well has encountered approximately 24 bcfe of recoverable gas and condensate resources which is significantly in excess of the minimum commercial volume of approximately 8 bcfe.
The drilling rig is now completing the well and preparing for testing in the coming weeks. An announcement concerning the results of the testing of SD-12X will be made in due course.