SDX announces gas discovery at KSR-16 well, onshore Morocco
Monday, Dec 11, 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-16 development well on the Sebou permit in Morocco (SDX 75% Working Interest).

The KSR-16 well was drilled to a total depth of 1,896 meters and encountered 14.2 meters of net conventional natural gas pay in the Hoot formation. The Company expects that the well will be connected to the existing infrastructure and placed on production within the next 30 days.

The drilling rig will now move to the ELQ-1 prospect on the Gharb Centre permit and drill the first commitment well on this recently acquired licence.

The recently completed KSR-15 well has been connected to the existing infrastructure and it is anticipated that test production will commence early next week.

Paul Welch, President and CEO of SDX, commented:

“We are pleased to have made another discovery during our ongoing nine well drilling campaign, with this well exceeding our pre-drill net pay estimates by more than 50%. Our drilling activity in Morocco is off to an excellent start and provides us with renewed confidence in the overall programme. The succession of above expectation well results allows us to accelerate our new customer acquisition activities and may result in us bringing forward the start of our forecast increased gas sales. I look forward to reporting on our progress in this regard and the test results of the KSR-16 well in due course.”

About SDX

SDX is an international oil and gas exploration, production and development company, headquartered in London, England, UK, with a principal focus on North Africa. In Egypt, SDX has a working interest in two producing assets (50% North West Gemsa & 50% Meseda) located onshore in the Eastern Desert, adjacent to the Gulf of Suez. In Morocco, SDX has a 75% working interest in the Sebou concession situated in the Rharb Basin. These producing assets are characterised by exceptionally low operating costs making them particularly resilient in a low oil price environment. SDX’s portfolio also includes high impact exploration opportunities in both Egypt and Morocco.

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