8th Mar 2022 19:36
SDX Energy PLC - London-based oil and gas company with projects in Egypt and Morocco - Spud the SD-5X well, which will target the Warda prospect in the South Disouq development lease in Morocco.Well is targeting an estimated gross unrisked P50 EUR of 11 billion cubic feet and has a 40% chance of success.
"I am pleased to announce the spudding of the first well in the South Disouq 2022 drilling campaign. This campaign will further explore and exploit the potential that we see in the South Disouq area and, if successful, could extend the production life of the asset by a further two to three years. I look forward to updating the market further as the campaign progresses," said Chief Executive Officer Mark Reid.
Current stock price: 8.20 pence
12-month change: down 54%
By Dayo Laniyan; [email protected]
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