South Ramadan20 Apr 2018 10:52
does't get a mention in their presentation but is in the admission document pg 17
http://www.sdxenergy.com/~/media/Files/S/Seadragon-Corp/ami-rule-26-information/final-admission-document-2016.pdf
"5.4 South Ramadan
The South Ramadan concession is located offshore in the Gulf of Suez and covers an area of
approximately 26 km2
, in average water depths of approximately 27 m. The concession is located between
the Ramadan and Morgan fields, which have combined reserves of approximately 2.0 billion boe and which
both produce light oil from the Lower Cretaceous age Nubia sandstones. SDX holds a 12.75 per cent.
working interest in the South Ramadan concession, with partners including Pico International Petroleum
which holds a 37.25 per cent. working interest and operatorship, and GPC which holds the remaining
50 per cent. working interest. A map showing the location of South Ramadan is shown below.
Along with its partners in the concession, SDX has developed a work programme at South Ramadan which
is premised upon the completion of the reprocessing and interpretation of 3D seismic data which was
acquired in 2014 and reprocessed in 2015. The results of this work will be used to determine the location
for an exploration well towards the end of 2016 as required under the South Ramadan concession
agreement. Depending on the interpretation of the 3D seismic data, the Company may elect to farm out
or relinquish its interest in the concession before this well is drilled.
The Company has not committed any additional funding to the South Ramadan concession for the twelve
month period from the date of this document."
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