REG - SDX Energy PLC - SPUD OF BMK-2 WELL

SDX EnergyAnnouncement

03/04/2024 07:00

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RNS Number : 0565J  SDX Energy PLC  03 April 2024

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

 InHouseIR (Investor and Media Relations)

 Sarah Dees/Oliver Clark

 Email: sdx@inhouseir.com

 Tel: +44 (0) 78 8165 0813 / +44 (0) 20 3239 1669

 

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
(https://url.avanan.click/v2/___http:/www.sdxenergygroup.com/___.YXAxZTpzaG9yZWNhcDphOm86MDEzNTAyODI2ZTNhZWY5ZWM4YWU4MGY3MmNiNjhiMDc6Njo4MDY2OmIyZDJhNDdjNTNhNWU3Yjc5Y2VjZDQ5MzgxZTRkZWJlNTE2NjQyYTMwOTk0NmQwOGZjN2U4MWIyMzIxODExNjM6cDpU)
or the Company's filed documents at www.sedar.com
(https://url.avanan.click/v2/___http:/www.sedar.com/___.YXAxZTpzaG9yZWNhcDphOm86MDEzNTAyODI2ZTNhZWY5ZWM4YWU4MGY3MmNiNjhiMDc6NjplNWE4OjE1YTQ5NzZmMjEyMWQ5MjgyZjhkZjI1YmQzNmU3YzE3ODdlMWMyY2MwM2E4YjBiYTJmY2M3ODk2ZWE5MmI3YTM6cDpU)
.

 

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.

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