SDX Energy Announces SD-5X Well Discovery at South Disouq Concession Egypt

Source: www.oilegypt.com 3/22/2022, Location: Africa

SDX Energy Plc (SDX), the MENA-focused energy company, is pleased to announce a gas discovery at the SD-5X exploration well which targeted the Warda prospect in the South Disouq development lease.

SD-5X (SDX:36.85% WI) spudded on 4 March and reached TD at 7,855ft MD on 16 March which was on time and within budget. The primary basal Kafr El Sheikh target was encountered at 6,973ft MD and discovered 55.5ft of net pay gas sand with an average porosity of 26.3%, all of which were in line with pre-drill estimates. SD-5X will now be completed, tested and tied-in via the existing SD-4X flow-line to the CPF and it is estimated that the well will be on production in June 2022. An announcement concerning the results of the testing of SD-5X will be made in due course.

With the completion of SD-5X, the rig will now move to the second well in the three well campaign, SD-12-East on the Sobhi Field (planned spud of mid-April). The third well in the campaign will be the MA-1X well targeting the Mohsen prospect (planned spud of mid-to-late May).

Mark Reid, CEO of SDX, commented:

"I am very pleased to announce the success of the first well in the South Disouq 2022 drilling campaign, and, that the SD-5X well aims to contribute to production by June 2022. Our production guidance issued earlier this year did not reflect success at this well and as a result we will be providing updated guidance once the well is connected and producing. The three well campaign aims to further exploit the potential that we see in the South Disouq area. I look forward to updating the market further on the results of the SD-5X well-test and as the 2022 campaign progresses."

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