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SDX Energy expects to start South Disouq well within next 14 days

Wednesday, March 1, 2017 0:26
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SDX Energy Inc (LON:SDX, CVE:SDX) is preparing for the start of drilling on the South Disouq exploration well in Egypt, where the drill-bit is due to start turning within the next fortnight.

The company today told investors that construction work at the well site has been completed, and the drilling rig is currently being mobilised to the well’s location.

“We are pleased with the progress we have made around the preparations for the upcoming drilling campaign on South Disouq,” said Paul Welch, SDX chief executive.

“We look forward to keeping the market appraised of drilling developments over the coming weeks.”

It is expected to be a 30-day drill programme.  The well’s first target is a gas prospect, seen to be a continuation of the discoveries in the Abu Madi-Baltim trend. In this regard it is said to be substantially de-risked by the correlation of the seismic data and nearby well successes.

Deeper in the well, SDX is also testing oil prospects which are believed to be similar to prolific oil reservoirs found in the western desert region, are untested in this northern part of Egypt.

Story by ProactiveInvestors


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