SDX Energy expands presence in Morocco
SDX Energy Inc. has announced that it has increased its presence in Morocco with the awards of the Moulay Bouchta Ouest and Lalla Mimouna Sud licenses.
The Moulay Bouchta Ouest exploration license, SDX 75% working interest and operator, covering an area of 458km2, has been awarded to SDX for a period of eight years.
SDX has a commitment to reprocess 150 kilometres of 2D seismic data, acquire 100 km2 of new 3D seismic and drill one exploration well within the first three-and-a-halfyear period.
SDX has also been re-awarded the Lalla Mimouna Sud licence (SDX 75% working interest and operator), which covers an area of 857 km2, for a period of eight years.
This permit was part of the original group of concessions that SDX acquired as part of the Circle Oil acquisition in 2017.
The concession expired after all the work commitments had been fulfilled and SDX reapplied for the acreage after the acquisition of additional 3D seismic in the area.
The Company has a commitment to acquire 50 km2 of 3D seismic and drill one exploration well within the first three-year period.