SDX Morocco Well Disappoints
AIM-listed Moroccan gas explorer SDX Energy said January 4 its latest well was uncommercial. Its ELQ-1 well in the Gharb Centre permit onshore northern Morocco found 22.6 net metres of reservoir interval and two metres of marginal net conventional gas pay that were “not sufficiently commercial to complete the well”; the rig will now move to its ONZ-7 development well.
"Despite the result at ELQ-1, we remain very upbeat about the remainder of our Moroccan drilling campaign, which has already yielded discoveries from the first three of this nine well campaign,” said SDX CEO Paul Welch. Flow testing is expected to start early next week at its KSR-16 well, said SDX, adding it would update on its results in due course.
SDX also said it has been granted a four-month extension to its Lalla Mimouna permit, through to July 22 2018, allowing it time to evaluate results of its upcoming exploration drilling, due to start this March. It expects to increase its tiny gas sales in Morocco by up to 50% in 2018; its January 27-September 30 2017 net Morocco sales were 3,410 ft3/d, realising a price of $9.43/'000 ft3 ($9.25/mn Btu).
SDX permits in northern Morocco
(Source: SDX Energy)