Search Share Prices
SDX completes and tests new well at Sebou
North Africa-focussed oil and gas company SDX Energy announced on Tuesday that the ONZ-7 well on the Sebou permit in Morocco has been completed and tested.
The AIM-traded company said that, using a 48/64" choke, the ONZ-7 well achieved an average flow rate of conventional natural gas of 10 million standard cubic feet per day (MMscf/d).
It explained that the well would now be shut in for several days for a pressure build-up, after which it would be connected to the local infrastructure.
"Today's positive update on ONZ-7 reaffirms our view that the Sebou permit has the potential to be highly cash generative for SDX," said president and CEO Paul Welch.
"Furthermore, the maximum flow rate during this test of 15.34MMscf/d is the highest achieved to date in the basin.
"This provides us with further confidence in being able to deliver our gross production target of 8-10MMscf/d of conventional natural gas in Morocco by the end of 2018."