KSIRI-21 WELL UPDATE

SDX Energy PLC

28 September 2023

 

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.

28 September 2023

KSIRI-21 WELL UPDATE

SDX Energy plc ("SDX" or the "Company") is pleased to announce that the KSR-21 well has reached its total vertical depth of 1,955 metres (1,966 metres measured depth) targeting a prospect within the Hoot formation, which is one of the main producing formations in the area. Drilling and wireline logging data confirm the presence of gas charged sands within the targeted reservoir section. 

The drilling rig will now be moved off location and the reservoir interval perforated to undergo a short testing period before being brought onto production to supply existing gas offtakers.

For further information:

SDX Energy Plc Daniel Gould, Managing Director William McAvock, Chief Financial Officer Tel: [phone]
Shore Capital (Nominated Adviser and Broker) Toby Gibbs/Iain Sexton Tel: [phone]
InHouseIR (Investor and Media Relations) Sarah Dees/Oliver Clark Email: [e-mail] Tel: [phone]
Camarco (PR) Billy Clegg/Owen Roberts/Violet Wilson Tel: [phone]

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.

About SDX

For further information, please see the Company's website at www.sdxenergygroup.com or the Company's filed documents at www.sedar.com .

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 KSR-21 should be regarded as forward-looking information.

 

END