SDX in significant Morocco discovery

Morocco

LONDON, April 20, 2018 – SDX Energy continues its Morocco winning streak with a “play opening discovery” in the Lalla Mimouna permit, the company announced on Friday.

Well LNB-1 struck “300 metres of gas bearing horizons […] in a significantly over-pressured section” as well as 2.6 metres of gas pay in a separate section, the statement added. In recent months, SDX has encountered gas in five of seven wells drilled in the nearby Sebou permit.

Nevertheless, the new discovery’s characteristics differ significantly from those of previous finds and suggest the presence of “a new petroleum system,” according to the company.

“We are currently in the early planning phases of determining how best to complete and test this section,” said Paul Welch, the president and CEO of SDX Energy.

“The estimated volume potential is very encouraging and I look forward to updating the market further on our activities in due course. Meanwhile, we have one more exploration well to drill on the permit in this campaign and I am looking forward to some more positive results based upon our success in LNB-1.”