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SDX Energy PLC announced on 31 October 2023 the completion of testing operations on the KSR-21 well in Morocco. The well was drilled to a total vertical depth of 1,955 meters, targeting a prospect within the Hoot formation. The test period resulted in a flow rate of approximately 4 MMcf/d (on 1/4 inch choke).
| Date | 31 Oct 2023 |
| Time | 07:00:13 |
| Category | Corporate updates |
| ID | 8353R |
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY SDX TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 ("MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
31 October 2023
SDX ENERGY PLC ("SDX" or the "Company")
SUCCESSFUL KSIRI-21 WELL TEST
SDX is pleased to announce the completion of testing operations on the KSR-21 well in Morocco. The well, targeting a prospect within the Hoot formation, was drilled to a total vertical depth of 1,955 meters. The well test resulted in a flow rate of approximately 4 MMcf/d (on 1/4 inch choke) during the test period.
SDX is the sole independent gas producer in Morocco and works closely with its partner, Office National des Hydrocarbures et des Mines ("ONHYM"), on all aspects of development and production. The gas from SDX's wells is sold to multiple offtakers in the Kenitra industrial area.
For further information:
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SDX Energy Plc Daniel Gould, Managing Director William McAvock, Chief Financial Officer Tel: +44 (0) 20 3219 5640
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Shore Capital (Nominated Adviser and Broker) Toby Gibbs/Iain Sexton Tel: +44 (0) 20 7408 4090 |
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InHouseIR (Investor and Media Relations) Sarah Dees/Oliver Clark Email: sdx@inhouseir.com Tel: +44 (0) 78 8165 0813 / +44 (0) 20 3239 1669
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Camarco (PR) Billy Clegg/Owen Roberts/Violet Wilson Tel: +44 (0) 20 3757 4980
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Competent Persons Statement
In accordance with the AIM Rules for Companies, the technical information contained in this announcement has been reviewed and approved by Mr. Aaron LeBlanc, Head of Operations at SDX Energy Plc. Mr. LeBlanc is a qualified person as defined in the London Stock Exchange's Guidance Note for Mining and Oil and Gas Companies and has the necessary professional and technical competencies to conduct and review petroleum operations. Mr. LeBlanc has a Bachelor of Science Degree in Geology from the University of Calgary and is a professional member of the AAPG. Mr. LeBlanc has 21 years of oil and gas industry technical, operational and leadership experience.
Abbreviations
MMcf/d million cubic feet per day
About SDX
For further information, please see the Company's website at www.sdxenergygroup.com or the Company's filed documents at www.sedar.com .
Forward-looking information
Certain statements contained in this press release may constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or are not statements of historical fact should be viewed as forward-looking information. In particular, statements regarding future drilling developments at KSR-21 should be regarded as forward-looking information.