StockMarketWire.com - SDX Energy said a well Egypt in which it held a minority interest had encountered oil.

The SRM-3 well at South Ramadan, of which SDX had a 12.75% working interest, encountering 75 feet of net conventional oil pay in the Matulla section, its primary target.

The well also encountered 20 feet of net conventional oil pay in the Brown Limestone formation and a further 15 feet of net conventional oil pay in the Sudr section.

The well would be completed in the Matulla section and then tested to establish whether it could flow at a commercial rate.

'The reservoir sections encountered in the SRM-3 well are encouraging and we look forward to seeing how this interval performs when tested, as this will provide additional insight on the volume potential of the section,' chief executive Paul Welch said.


At 9:57am: [LON:SDX] SDX Energy Inc. share price was +1.5p at 44p



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