Petroleum Africa
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Tuesday, June 23, 2020
SDX Energy, in its recent operational updates, said post-drill analysis of the LMS-2 well at Lalla Mimouna (SDX Working Interest: 75% and operator) in Morocco has identified similarities with the LAM-1 discovery made by the previous operator of the concession which flowed gas and condensate in 2015.
Subject to successful testing, management estimates that LMS-2 could contain c.1.5 bcf and has the potential to de-risk a further 6.0 bcf in separate compartments within the same feature.
Management also estimates that a further 3.4 bcf of close by prospective resources will be de-risked if LMS-2 tests successfully, increasing the overall prospective resource potential to 10.9 bcf.
LMS-2 will be tested after the COVID-19 restrictions in Morocco enable perforation and testing crews to re-enter the country. The Company hopes that this will be late Q3/early Q4 2020.
In addition to the 10.9bcf of prospective resources that could be de-risked by LMS-2, management has identified a further 25.5 bcf of prospective resources in multiple prospects across the concession.
Mark Reid, CEO of SDX, commented on both the company’s Egypt and Morocco results: “After analyzing the results of the recent drilling successes in Egypt and Morocco, we are very excited about the future prospectivity identified from the Sobhi well in Egypt and from LMS-2 in Morocco.
“In Morocco, a successful test in LMS-2 could create 1.5 bcf of 2P reserves and simultaneously de-risk 6.0 bcf of prospectivity in the same structure and a further 3.4 bcf nearby, enabling us then to investigate low cost, early monetization options. In addition, a successful LMS-2 test will help us better understand an additional 25.5 bcf of prospectivity in multiple prospects identified across the broader Lalla Mimouna concession.”
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