SDX Energy reports positive results at AASE-24 development well in North West Gemsa

SDX Energy has encountered significant oil bearing reservoir sections in both the Kareem Rahmi and Shagar formations on the recently completed Al Amir SE 24 (AASE-24) development well in North West Gemsa.

The North West Gemsa concession is located onshore on the west side of the Gulf of Suez, approximately 300km southeast of Cairo.

The Al Amir SE field, along with the Al Ola extension to the south and the Geyad field to the north are the two main oil fields to produce light oil.

SDX has a 10% working interest in the North West Gemsa Concession.

The company carried out drill to a depth of 9,925ft where both the Shagar and Rahmi oil reservoirs were encountered.

The log analysis shows 15ft of net oil pay at Shagar reservoir, as well as 7ft at Rahmi.

According to the company, the well has been completed as an oil producer in the Shagar and has flowed on test light 43.6° API oil at an average rate of 1,714 BOPD, with 3.062 MMSCFD of associated gas.

This well has been added to the current facilities and will immediately be placed on production.

SDX Energy president and CEO Paul Welch said: "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.

"The results of these two development wells, combined with a 9 well work-over programme currently underway, will allow us to maintain production at a plateau rate of 8,000 Boepd for the remainder of 2016."