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SDX Energy PLC - oil and gas company focused on Egypt and Morocco - Says 67% owned SD-12 East well in Sobhi field at Ibn Yunus North discovers gas. The asset is located in Egypt. The primary basal Kafr El Sheikh target is met at 6,567 feet measured depth, discovering 70.2 feet of net pay gas sand with average porosity of 24%. Secondary target is encountered at 4,838 feet measured depth, discovering 9.1 feet of net pay gas sand with 31% porosity.
‘SD-12 East will now be completed, tested in the primary target area and tied-in to the central processing facility via the SD-12X flow-line and it is estimated that the well will be on production in July 2022,’ SDX says.
Current stock price: 8.80 pence, up 8.4% on Tuesday
12-month change: down 51%
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