SDX Energy Plc (AIM: SDX), the MENA-focused energy company, is pleased to announce the spudding of the SD-5X exploration well, targeting the Warda prospect in the South Disouq development lease. SD-5X spudded on 4 March 2022 and is expected to reach TD in approximately three weeks. The primary target, which has already been encountered in the Ibn Yunus and Sobhi field reservoirs, is the basal Kafr El Sheikh sand at around 6,800ft TVDSS. The well is targeting an estimated gross unrisked P50 EUR of 11bcf and has a 40% chance of success. In a success case, SD-5X will be tied- in to the CPF via the existing SD-4X flow-line and should be on production by the end of June 2022.
SD-5X is the first of three wells to be drilled in the South Disouq area during 2022. The second well in the campaign will be the SD-12_East well on the Sobhi Field (planned spud of mid -April). SD-12 _East will target an estimated gross unrisked P50 EUR of 7bcf, and will be followed by the MA-1X well (Mohsen) targeting an estimated gross unrisked P50 EUR of 21bcf. The Mohsen well is planned to spud mid-to- late May.
Mark Reid, CEO of SDX, commented:
“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.”
