Egypt focused oil and gas company SDX Energy Inc. revealed Monday that the quality of the 115 square mile 3D seismic data acquired over the South Disouq concession surpassed expectations.
SDX’s initial internal assessment of the 3D seismic data has identified 15 leads and at least two currently drillable gas and oil bearing prospects. These will now be further interpreted ahead of the planned drilling campaign, expected to commence in late 2016/early 2017. SDX intends to have an independent third party auditor verify the internal assumptions and will update the market further in due course.
The initial interpretation of the data set identified numerous leads and prospects in the Abu Madi section as well as the overlying Kafr El Sheikh formation. These gas and condensate prospects and leads are located in traps similar to those identified in the offset areas. In addition, early stage analysis has identified deeper oil-bearing potential in both the Abu Roash and AEB horizons, which are oil producers in the Western Desert region of Egypt.
These two horizons are located significantly shallower in South Disouq compared to other areas in the Nile Delta. The Cretaceous and Jurassic source rocks are anticipated to be in the oil window, therefore, South Disouq has the dual benefit of having potential not only in the primary targets normally found in the Nile Delta, but also in older horizons that are productive across the Western Desert.
"We are very encouraged by the quality of the data delivered by our 3D seismic program. Our ability to identify and map prospectivity at the Abu Madi and deeper Abu Roash and AEB horizons greatly expands the potential of the concession,” said Paul Welch, CEO of SDX Energy.
“We…are excited by the potential of the forthcoming drilling campaign to test for not only the established gas potential in the area but also for oil. Identifying these Western Desert producing horizons within the oil window in South Disouq is fantastic news. I look forward to reporting on our progress to develop this newly identified potential in future period,” he added.
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