SDX Energy strikes pay at South Disouq concession in Egypt

LONDON -- SDX Energy Inc., the North Africa focused oil and gas company, announced that drilling on the carried SD-1X well at its South Disouq concession, where it hold s a 55% equity interest and is operator in the Nile Delta area of Egypt has reached its first target depth.

The SD-1X well is targeting gas in the upper Abu-Madi section, and oil from the deeper Abu Roash and AEB horizon. To date, the well has been drilled to a total depth of 7,777 ft, reaching its first target depth in the Abu Madi.

The Company is pleased to announce that during drilling, conventional natural gas bearing horizons were encountered in the Abu Madi. The well encountered 65 ft of net pay section with an average porosity of 25%. The results are in line with pre-drill estimates. Additional evaluation work is currently underway to provide an accurate recoverable volume estimate, which will be the subject of a subsequent release.

Drilling will now continue to the deeper Abu Roash and AEB sections, targeting oil. SDX will provide further updates on the drilling campaign in due course.