Further to the spud announcement on 18 September 2017, SDX Energy Inc. (TSXV, AIM: SDX), the North Africa focused oil and gas company, is pleased to announce that a gas discovery has been made at its KSR-14 development well on the Sebou permit in Morocco (SDX 75% Working Interest).
The KSR-14 well was drilled to a total depth of 1830 meters and encountered 20 meters of net conventional natural gas pay in the Guebbas and Hoot formations over 4 intervals. The initial results have exceeded pre-drill estimates, and work is currently underway to further evaluate the well's accurate recoverable volume estimate.
Once the drilling rig has left the location, the Company expects that the well will be connected to the existing infrastructure and produced. The well is anticipated to be on production in approximately 30 days.
Paul Welch, President and CEO of SDX, commented:
"This positive result follows the Company's recent oil discovery at our West Gharib Concession in Egypt and demonstrates the real momentum developing across our portfolio. This outcome in Morocco is an excellent start to our nine well programme, where we are targeting an increase in our local gas sales volumes in Morocco by up to 50%. I look forward to reporting on the flow rates from today's KSR-14 discovery and last week's Rabul 2 discovery in the near term along with updating our shareholders on further progress on our South Disouq Development activities in due course."