Promising data quality from seismic capture
SDX Energy has announced the initial findings from the seismic data acquired over South Disouq. The first pass (PSTM) post stack time migration has surpassed pre-acquisition expectations, allowing the company to assess horizons not previously assessed, importantly including those that are oil bearing in other blocks. The company expects to continue its assessment of data to refine the numerous prospects and leads already identified before a fully-carried exploration well in late 2016/early 2017. Once a target is identified we expect to update our core NAV (unchanged for the moment at 39p/share). Our RENAV, including a nominal 65mmboe prospect at South Disouq, is 72p/share.SDX Energy is engaged in the exploration, acquisition, development and production of oil and natural gas in Africa and Egypt. As of Dec 31 2010, total gross proved reserves for light and medium oil consisted of 3,593 thousand barrels ("mbbls"), natural gas liquids consisting of 211 mbbls and natural gas consisting of 2,575 million cubic feet.
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