SDX: Appraisal well encounters oil offshore Egypt

Jan. 15, 2019
SDX Energy Inc. reported its SRM-3 appraisal well encountered oil on the South Ramadan license offshore Egypt in the Gulf of Suez. The operator is Pico. SDX has a 12.75% interest.

SDX Energy Inc. reported its SRM-3 appraisal well encountered oil on the South Ramadan license offshore Egypt in the Gulf of Suez. The operator is Pico. SDX has a 12.75% interest.

The appraisal well encountered 75 ft of net conventional oil pay in the main Matulla section target, 20 ft of net conventional oil pay in the Brown Limestone formation, and 15 ft of net conventional oil pay in the Sudr section.

After completing the well in the Matulla section, a test will determine if flow rates are commercial. The South Ramadan license is 3 miles southeast of Ramadan oil field and about 4 miles northwest of Morgan field.

Ramadan and Morgan produce light oil from Lower Cretaceous Nubia sandstones.