By Mandisa Nduli, Editor
North Africa-focused SDX Energy has encountered oil at its SRM-3 appraisal well on the South Ramadan license offshore Egypt in the Gulf of the Suez.
In an official statement, SDX Energy said that the well reached a target depth of 15,635 feet and encountered 75 feet of net conventional oil pay in the Matulla section target, 20 feet of net conventional oil pay in the Brown Limestone formation and 15 feet of net conventional oil pay in the Sudr section.
“The reservoir sections encountered in the SRM-3 well are encouraging and we look forward to seeing how this interval performs when tested, as this will provide additional insight on the volume potential of the section,” said Paul Welch, President and CEO of SDX Energy.
The well will be completed in the Matulla section and then tested to establish whether it can flow at a commercial rate.
SDX Energy has a 12.75 percent working interest at the SRM-3 well at South Ramadan, Pico Oil is operator and holds a 37.5 percent and GPC holds the remaining 50 percent.