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The SAH-2 well was ‘on prognosis’ though the company highlighted that the reservoir thickness was above expectations.
Testing results are expected in April.
SDX Energy Inc (LON:SDX,CVE:SDX) shares rose on Friday after the group confirmed a new gas discovery in SAH-2, its latest well at the Sebou project onshore Morocco.
SAH-2 was drilled down to 1,304 metres and has encountered some 5.2 metres of net conventional gas pay, across two zones (Guebbas and Hoot).
READ: SDX Energy starts drilling SAH-2 well onshore Morocco
The well was ‘on prognosis’ though the company highlighted that the reservoir thickness was above expectations. It will now be completed and tested before the start of production operations.
“We are very pleased to be able to announce another discovery, the fifth from seven wells drilled to date in our nine well Moroccan campaign,” said Paul Welch, SDX chief executive.
“This was also the first well in the Gharb basin that was successfully drilled using downhole directional tools which allowed us to penetrate the crest of two individual targets with a single well-bore.
“We will use these tools when drilling our next well, LNB-1, an exploration well in our Lalla Mimouna concession, for a similar reason. By successfully targeting the crests of specific horizons, we now have the ability to improve the recovery efficiency from individual wells.”
In late afternoon trading, SDX shares were 2.7% higher at 47.5p.
