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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (14427)	5/20/2016 7:48:19 AM
From: Goose94	Read Replies (2) \| Respond to of 203362

SDX Energy (SDX-V) May 20, '16 an oil & gas exploration and production company with assets in Egypt & Cameroon, is pleased to provide the following update on the recently completed Al Amir SE 24 (AASE-24) development well in North West Gemsa, where SDX Energy has 10% working interest. The well encountered significant oil bearing reservoir sections in both the Kareem Rahmi and Shagar formations and has been completed as a producer in the Shagar. Al Amir SE-24 Well: AASE-24 was drilled to a depth of 9,925 feet where both the Shagar and Rahmi oil reservoirs were encountered. Log analysis indicates 15 feet of net Shagar oil pay and 7 feet of net Rahmi oil pay. 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. The well has been connected to the existing facilities and it will be placed on production immediately. Commenting, Paul Welch, CEO of SDX Energy, 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 program, which his currently underway, will allow us to maintain production at a plateau rate of 8,000 Boepd for the remainder of 2016." About North West Gemsa The North West Gemsa concession is located onshore on the west side of the Gulf of Suez, approximately 300 km southeast of Cairo. Two main oil fields are producing light oil, the Al Amir SE field along with the Al Ola extension to the south and the Geyad field to the north. SDX has a 10% working interest in the North West Gemsa Concession. About SDX SDX is an international oil and gas exploration, production and development company, headquartered in London, England, UK, with a principal focus on Egypt. In Egypt, SDX has an interest in two production concessions: NW Gemsa and West Gharib (Meseda) both located in the Eastern Desert. SDX's portfolio also consists of South Ramadan, a development asset in the Gulf of Suez; South Disouq, an exploration asset in the Nile Delta; and Bakassi West, an exploration block in Cameroon within the prolific Niger Delta Basin. For further information, please see the website of the Company at www.sdxenergy.com or the Company's filed documents at www.sedar.com. In accordance with the guidelines of the AIM Market of the London Stock Exchange the technical information contained in the announcement has been reviewed and approved by Paul Welch, Chief Executive Officer of SDX Energy. Paul Welch, who has over 30 years of experience, is the qualified person as defined in the London Stock Exchange's Guidance Note for Mining and Oil and Gas companies, Mr. Welch holds a BS and MS in Petroleum Engineering from the Colorado School of Mines in Golden, CO. USA and an MBA in Finance from SMU in Dallas, TX USA and is a member of the Society of Petroleum Engineers (SPE). SOURCE SDX Energy Inc. SDX Energy Inc., Paul Welch, President and Chief Executive Officer, Tel: +44 203 219 5640; Mark Reid, Chief Financial Officer, Tel: +44 203 219 5640; Cantor Fitzgerald Europe (Nominated Adviser & Joint Broker), Sarah Wharry/Craig Francis, Tel: +44 207 7894 7000; FirstEnergy Capital LLP (Joint Broker), Jonathan Wright/David van Erp, Tel: +44 207 448 0200; Buchanan (PR), Ben Romney/Madeleine Seacombe, Tel: +44 207 466 5000