British Firm SDX Energy Discovers Significant Gas Reserves in Morocco’s Sebou Concession

SDX Energy specifies that it has discovered commercially viable quantities of gas in two target zones, the Upper Guebbas and the Lower Guebbas, at a depth of 1,551 m in the BMK-1 well. The Upper Guebbas was encountered at a measured depth of 1,190 meters, while the Lower Guebbas was encountered at a measured depth of 1,475 meters.

Based on 3D seismic data, the company hopes to extract up to 20 billion cubic feet of resources for future drilling, with 10 billion cubic feet located in or near BMK-1. According to estimates, 900 million cubic feet of gas can be recovered from the horizons encountered in the two targets.

Pleased with this discovery of significant quantities of gas, SDX CEO Mark Reid assures that the company could now meet its customers’ demand for three to four years. For him, the BMK-1 result in Morocco is excellent news.

Insofar as this confirms that with the discovery of OYF-2 in January, "we can now plan the development of a new potentially material and valuable area north of our existing infrastructure, in a market where we are the only gas producer and where we receive gas prices between $10 and $12 per mmcf," he said.