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SDX kicks off drilling campaign at Gharb Basin in Morocco

Two step-out wells will be drilled in the north of Gharb Centre and up to three exploration wells in Lalla Mimouna Nord

SDX Energy Inc -
The drilling campaign is scheduled to be completed in the first quarter of 2020.

SDX Energy PLC (LON:SDX) has begun a 12 well drilling campaign on its 75% owned Gharb Basin acreage in Morocco.

The programme will target a mean 15 billion cubic feet of gas, with the first seven wells to be appraisal holes close to existing infrastructure. 

These will be followed by two step-out exploration wells further to the north in Gharb Centre and outside the reach of existing facilities.

These two exploration wells will target similar horizons to the discoveries made in Sebou and Gharb Centre and if successful could open up this northern area of the concession. 

The last three wells of the campaign are expected to be higher-risk exploration wells in the unproven Lalla Mimouna Nord concession. 

Mark Reid, interim chief executive and CFO, said though the intention is to drill three wells at Lalla Mimouna Nord, if the first well does not meet expectations  the rig might be moved back to SDX’s core producing area and drill two lower-risk, but smaller, prospects to add additional reserves.

The drilling campaign is scheduled to be completed in the first quarter of 2020.

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Price: 14.5 GBX

Market: AIM
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