SDX Energy’s BMK-1 well in Morocco has yielded commercial amounts of gas from both of its upper and lower regions of Guebbas, the company said in a statement.
Drilling took place respectively, the Upper Guebbas was drilled to a depth of 1,551 meters and the Lower Guebbas to 1475 meters. With the aid of Measurement While Drilling Equipment (MWD) tools, management encountered a total of 0.9 billion ft3 of gas in the two drilling sites (this was in accordance with the pre-drill estimates).
This discovery comes in the wake of the successful testing of the OYF-2 discovery on 28th January. Therefore, the company has opened a new play fairway and estimates that there are a further 10 billion ft3 of gas in and around BMK-1. As a result, at 8.57 GMT on 3rd March the share price rose +0.25% at 18.75 pence on the London Stock Exchange (LSE).
The company at present is looking to add reserves in around their existing infrastructure and also to see if their drilling capabilities extend North. This discovery confirms their prospectivity in the area and serves as a major boost for future exploration.
