SDX says Egyptian well exceeds expectations

A map showing SDX's assets in Egypt
A map showing SDX's assets in Egypt

London-headquartered SDX Energy said the flow test results on a well in Egypt had exceeded expectations.

The Ibn Yunus 1X well is on the South Disouq licence, 55% owned by SDX as operator.

It flowed natural gas at a stabilised rate of 39.3 MMscf per day.

SDX will aim to bring the discovery into commercial production prior to year-end 2018.

SDX chief executive Paul Welch said: “The flow test from Ibn Yunus 1X is a very positive outcome which has exceeded our expectations and is a strong endorsement of the significant potential of the licence.

“We remain optimistic about further positive news flow as we move towards delivering first gas from the licence before the end of 2018. We look forward to updating shareholders on our progress at South Disouq over the coming months.”