Egyptian Al Amir SE 24 Development Well Flows Oil

SDX Energy Inc. announced Friday that significant oil bearing reservoir sections were found in the recently completed Al Amir SE 24 development well in North West Gemsa, where SDX Energy has 10 percent working interest.

Drilled to a depth of 9,925 feet, the well encountered 15 feet of net oil pay in the Shagar formation and 7 feet of net oil pay in the Kareem Rahmi formation. The well has been completed as an oil producer in the Shagar and has flowed on test light 43.6⁰ API oil at an average rate of 1,714 barrels of oil per day with 3.062 million cubic feet per day of associated gas. The well has been connected to existing facilities and will be placed on production immediately.

“The AASE24 well is expected to be another strong producer from the Shagar and is the second of two successful development wells to be drilled in the field this year,” said Paul Welch, CEO of SDX Energy.

“The results of these two development wells combined with a 9 well work-over program, which his currently underway, will allow us to maintain production at a plateau rate of 8,000 barrels of oil equivalent per day for the remainder of 2016,” he added.

The North West Gemsa concession is located onshore on the west side of the Gulf of Suez, approximately 190 miles southeast of Cairo. Two main oil fields are producing light oil, the Al Amir SE field, along with the Al Ola extension to the south, and the Geyad field to the north.



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