SDX Energy hits Egypt pay

LONDON, March 14, 2018 – SDX Energy has made a significant oil discovery onshore Egypt, the London-based company announced on Wednesday.

Well Rabul-5 in the West Gharib concession struck about 46 metres of heavy oil deposits, the company statement said. The news came months after the Rabul-2 well in the same concession encountered 31 metres of similar deposits in October 2017 and days after the company scored a gas find in the fifth of seven wells drilled in the Sebou permit in Morocco.

“We are pleased to continue our recent run of drilling success with this oil discovery at Rabul 5. This well encountered the thickest section of pay sands seen in the Rabul area to date, demonstrating the significant oil potential contained within the licence,” said CEO Paul Welch. “We have further drilling activity planned for the concession over the coming months and we firmly believe that these activities will enable us to increase output from the licence and achieve our ambitious production plans for 2018.”

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