SDX Drills Exploratory Well in Egypt
Monday, 20th March 2017
SDX Energy has started drilling the potentially high impact SD-1X well at South Disouq concession, in the Nile Delta area of Egypt.
The well is targeting gas in the upper Abu Madi section, and oil is targeted in the lower AEB & Abu Roash sections. Drilling will take between 30 and 45 days, as informed by Proactive Investors.
As drilling begins, SDX also confirms that it has receive a six-month extension to South Disouq, allowing it until mid-September to evaluate the well results prior to making a decision to commit to the next exploration phase.
Accoring the company’s CEO, Paul Welch, SDX looks forward “to providing updates over the course of the campaign.”
The SD-1X well’s first target is the shallower gas prospect. This is seen to be a continuation of the discoveries in the Abu Madi-Baltim trend and, importantly, it is substantially de-risked given the correlation to the seismic interpretation and nearby well successes.