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Stock Market Wire: SDX Energy discovers more oil in Egypt

Further evaluation of the discovery was ongoing, after which SDX said it expected the well to be completed as a producer.
25.04.18 | Interesting article at Stock Market Wire

SDX Energy said an oil discovery was made at its Rabul 4 well in the West Gharib concession in Egypt, of which the company held a 50% working interest and was joint operator.

The well encountered around 43 feet of net heavy oil pay across the Yusr and Bakr formations, with an average porosity of 16%, after being drilled to a total depth of 5,250 feet.

Further evaluation of the discovery was ongoing, after which SDX said it expected the well to be completed as a producer.

'The four successful wells drilled to date in the Rabul structure will contribute significantly to our production volumes in 2018,' chief executive Paul Welch said.

'The Rabul 5 well was recently put on production, using an ESP completion, and came on at just over 2,000 barrels of oil per day from the Bakr sand.'