SDX Energy spuds Ibn Yunus-1X well in Egypt's South Disouq

LONDON -- SDX Energy Inc., the North Africa focused oil and gas company, has announced that it has spud its Ibn Yunus-1X exploration well at South Disouq, Egypt.

The Ibn Yunus-1X well, anticipated to take approximately 30 days to drill, will be targeting the same conventional natural gas bearing Abu Madi intervals discovered in the SD-1X well in April 2017. This is the first of a planned four well program on the South Disouq concession. The Ibn Yunus-1X well will be followed by two appraisal wells (SD-4X and 3X) in the original SD-1X structure which, if successful, will be used as producers thereby completing the base case development plan for the new field. The Company, in its technically approved development plan by the Egyptian authority,forecasts a plateau rate from SD-1X field of 50 MMscfd of conventional natural gas (SDX 55% working interest). However, with any exploration success,thefield plateau rate could potentially increaseup to 100 MMscfd.

Start-up of production at South Disouq is expected to commence in H2 2018. The final well in the program, Kelvin-1X, will be an exploration well which, if successful, would be tied into the facilities located at SD-1X field. The Kelvin-1X exploration well is targeting the same package of sands found to be productive at the SD-1X location but in a geologic structure up-dip of SD-1X, thereby reducing the level of risk and uncertainty when compared to a conventional exploration well.