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SDX Energy Confirms Significant Gas Discovery at Ibn Yunus-1X

Source: www.gulfoilandgas.com 5/18/2018, Location: Africa

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SDX Energy Inc., the North Africa focused oil and gas company, has announced the positive results of the well test conducted on the Ibn Yunus 1X well following the recent conventional natural gas discovery at South Disouq, Egypt (SDX 55% working interest and operator).

The Ibn Yunus 1X well was drilled to a total depth of 9,608ft, and encountered 100.8 ft. of net conventional natural gas pay in the Abu Madi horizon, which had an average porosity in the pay section of 28.5%.

Well test operations have now commenced and the well has successfully flowed natural gas at a stabilised rate of 39.3 MMscf/d on a 32/64” choke. This flow rate exceeded initial expectations and was limited by the surface facilities put in place to test the well. The well has now been shut in for an initial build-up after which a series of additional flowing periods will be conducted and fluid samples taken.

Working with its partners, SDX will now aim to bring the discovery into commercial production prior to year end 2018.

Paul Welch, President and CEO of SDX, commented:

"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. We remain optimistic about further positive news flow as we move towards delivering first gas from the licence before the end of 2018. We look forward to updating shareholders on our progress at South Disouq over the coming months.”

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