StockMarketWire.com - Oil company SDX Energy said it had encountered natural gas from a well drilled in the South Disouq exploration permit at the onshore Nile Delta, Egypt.

The Ibn Yunus-2 well, of which SDX had a 55% working interest, was drilled to a measured depth of 8,025 feet, encountering 40.5 feet net-pay of high-quality gas-bearing sands.

The sands had an average porosity of 23.4%, near the base of the Kafr El Sheikh formation.

SDX said it expected the IY-2 well will be tied in via a short flowline to the Ibn Yunus-1X location where an existing flowline connects to the South Disouq central processing facility.

The gross cost of this tie-in as estimated at $0.55 million


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