The North Africa Post
The UK-based SDX energy announced a new discovery in north western Morocco, which, it said, is above pre-drill estimates.
The company has encountered commercial quantities of gas in its OYF-2 well and confirmed the extension of its core area to the north, it said in a statement.
The well, in which the company has 75% interest, was drilled at a depth of 1,001m with gas estimates at between 1.3 and 1.9 billion cubic feet (bcf).
“We now have the potential to increase our total reserves in Morocco to approximately three to four years of customer demand,” SDX CEO Mark Reid said after the discovery.
SDX Energy supplies clients in Kenitra’s Atlantic Free zone. The company operates also in Egypt. SDX Energy was created in 2015 and is listed on the London Stock Exchange since 2016.
POSTED BY NORTH AFRICA POST
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