[Egypt] SDX Energy discovers oil at Rabul 5 Well
SDX Energy Inc., the North Africa focused oil and gas company, is pleased to announce that an oil discovery has been made at its Rabul 5 Well in the West Gharib Concession in Egypt.
The well was drilled to 5,280 feet total depth and encountered approximately 151 feet of net heavy oil pay across the Yusr and Bakr formations, with an average porosity of 18%. Further evaluation of the discovery is ongoing, after which the Company expects the well to be completed as a producer and connected to the central processing facilities at Meseda.
Following completion of the Rabul 5 well the Company will move on to the Rabul 4 location, the second of two appraisal wells planned for the Rabul feature this year.
Paul Welch, President and CEO of SDX, commented: "We are pleased to continue our recent run of drilling success with this oil discovery at Rabul 5. This well encountered the thickest section of pay sands seen in the Rabul area to date, demonstrating the significant oil potential contained within the licence. We have further drilling activity planned for the concession over the coming months and we firmly believe that these activities will enable us to increase output from the licence and achieve our ambitious production plans for 2018.”