SDX Energy: Positive Development Well results in NW Gemsa

SDX_EnergyAl Amir S.E. #24 Development Well
SDX Energy Inc., an oil & gas exploration and production company with assets in Egypt & Cameroon, is pleased to provide the following update on the recently completed Al Amir SE 24 (AASE-24) development well in North West Gemsa, where SDX Energy has 10% working interest. The well encountered significant oil bearing reservoir sections in both the Kareem Rahmi and Shagar formations and has been completed as a producer in the Shagar.

Al Amir SE-24 Well:
AASE-24 was drilled to a depth of 9,925 feet where both the Shagar and Rahmi oil reservoirs were encountered. Log analysis indicates 15 feet of net Shagar oil pay and 7 feet of net Rahmi oil pay. The well has been completed as an oil producer in the Shagar and has flowed on test light 43.60 API oil at an average rate of 1,714 BOPD with 3.062 MMSCFD of associated gas. The well has been connected to the existing facilities and it will be placed on production immediately.

Commenting, Paul Welch, CEO of SDX Energy, said:
“The AASE24 well is expected to be another strong producer from the Shagar and is the second of two successful development wells to be drilled in the field this year. The results of these two development wells combined with a 9 well work-over program, which his currently underway, will allow us to maintain production at a plateau rate of 8,000 Boepd for the remainder of 2016.”

NWGemsa

North West Gemsa Concession in the Gulf of Suez (Source: SDX Energy Website)

About North West Gemsa
The North West Gemsa concession is located onshore on the west side of the Gulf of Suez, approximately 300 km southeast of Cairo. Two main oil fields are producing light oil, the Al Amir SE field along with the Al Ola extension to the south and the Geyad field to the north. SDX has a 10% working interest in the North West Gemsa Concession.

(SDX Energy Press Release)

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