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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."

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