Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

SDX Energy sees better than expected well test at latest Egypt discovery

As it unveiled strong well test results the company told investors that aims to deliver 'first gas' from the South Disouq licence later this year
oil and gas operations
Ibn Yunus 1X flowed at a rate of 39.3 mln cubic feet per day

SDX Energy Inc (LON:SDX, CVE:SDX) has revealed better than expected gas flow rates from the latest gas discovery well at the South Disouq project, onshore Egypt.

The Ibn Yunus 1X well had encountered just over 100 feet of net natural gas pay in the Abu Madi formation, and, in flow testing it yielded a stabilised rate of 39.3 mln cubic feet.

WATCH: SDX Energy 'hitting its stride' & benefiting from operational success

Not only did the rate exceed pre-drill expectations, it was limited by the equipment at surface – meaning the possible peak rate is higher still.

"The flow test from Ibn Yunus 1X is a very positive outcome which has exceeded our expectations and is a strong endorsement of the significant potential of the licence,” said Paul Welch, SDX Energy chief executive.

“We remain optimistic about further positive news flow as we move towards delivering first gas from the licence before the end of 2018.

Ibn Yunus 1X has now been shut-in for an initial pressure build up, after which further testing will take place and fluid sample will be taken.

Welch added: “We look forward to updating shareholders on our progress at South Disouq over the coming months."

View full SDX profile View Profile

SDX Energy Inc Timeline

Related Articles

onshore oil field
Eland, along with its project partner, produced almost 1mln barrels of oil from the OML 40 licence in the first six months of the year, a significant year-on-year rise
coal trucks
March 14 2018
Polish group Cobant is the latest partner and will work with AEG to develop a new "Super Fuel" that combines CoalSwitch and reclaimed coal
oil and gas operations
May 01 2018
It was a year of portfolio building and progress for the onshore UK-focused minor, punctuated by improved production volumes and a number of acquisitions with value-adding potential

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use