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Sunday, February 10, 2019
SDX Energy expanded its holdings in Morocco with the award of Moulay Bouchta Ouest and Lalla Mimouna Sud licenses.
The Moulay Bouchta Ouest exploration license (SDX 75% working interest and operator), covering an area of 458 sq km, has been awarded to SDX for a period of eight years. SDX has a commitment to reprocess 150 km of 2D seismic data, acquire 100 sq km of new 3D seismic and drill one exploration well within the first three-and-a-half-year period.
The company was also re-awarded the Lalla Mimouna Sud license, where it holds a 75% working interest and is operator, for a period of eight years. This permit was part of the original group of concessions that SDX acquired as part of the Circle Oil acquisition in 2017.
The concession expired after all the work commitments had been fulfilled and SDX reapplied for the acreage after the acquisition of additional 3D seismic in the area. The company has a commitment to acquire 50 sq km of 3D seismic and drill one exploration well within the first three-year period.
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