THE
INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY SDX TO
CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE
REGULATION (EU) NO. 596/2014 ("MAR"). ON THE PUBLICATION OF THIS
ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS
INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC
DOMAIN.
3 April 2024
SDX ENERGY PLC ("SDX" or the
"Company")
SPUD OF BMK-2
WELL
SDX is pleased to announce that it has
commenced drilling the Beni Malek-2 well ("BMK-2") in
the Rharb Basin, Morocco, approximately 1.5km from the BMK-1
discovery well. The BMK-2 well will be drilled to a planned depth
of approximately 1,470 metres and is targeting three stacked
reservoirs in the Guebbas formation, which have been identified
using 3D seismic.
This well follows the success of the KSR-21
well drilled in September 2023 and is part of an ongoing drilling
campaign in Morocco. If BMK-2 is a success, the well will be
completed and tied-in for production as quickly as possible, to
supplement existing production and, in particular, provide to CITIC
Dicastal, which is the Company's largest offtaker and has an
immediate and increasing demand for SDX's gas.
In Morocco, the Company is the sole independent
gas producer and has ambitions to be a major gas producer and works
closely with its partner, Office National des Hydrocarbures et des
Mines ("ONHYM") on all aspects of development and production. The
gas from SDX's wells is sold to multiple offtakers in the Kenitra
industrial area.
For
further information:
|
SDX Energy
Plc
Daniel Gould, Chief Executive
Officer
William McAvock, Chief Financial
Officer
Tel: +44 (0) 20 3219 5640
|
|
|
Shore Capital
(Nominated Adviser and Broker)
Toby Gibbs/Iain Sexton
Tel: +44 (0) 20 7408 4090
|
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InHouseIR (Investor and Media Relations)
Sarah Dees/Oliver Clark
Email:
sdx@inhouseir.com
Tel: +44 (0) 78 8165 0813 / +44 (0)
20 3239 1669
|
|
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Competent Persons Statement
In accordance with the AIM Rules for
Companies, the technical information contained in this announcement
has been reviewed and approved by Mr. Aaron LeBlanc, Head of
Operations at SDX Energy Plc. Mr. LeBlanc is a qualified person as
defined in the London Stock Exchange's Guidance Note for Mining and
Oil and Gas Companies and has the necessary professional and
technical competencies to conduct and review petroleum operations.
Mr. LeBlanc has a Bachelor of Science Degree in Geology from the
University of Calgary and is a professional member of the AAPG. Mr.
LeBlanc has 21 years of oil and gas industry technical, operational
and leadership experience.
Abbreviations
BCF billion cubic
feet
About SDX
For further information, please see
the Company's website at
www.sdxenergygroup.com or the
Company's filed documents at
www.sedar.com .
Forward-looking
information
Certain statements contained in this
press release may constitute "forward-looking information" as such
term is used in applicable Canadian securities laws. Any statements
that express or involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions
or future events or are not statements of historical fact should be
viewed as forward-looking information. In particular,
statements regarding future drilling developments at BMK-2 should
be regarded as forward-looking information.