SDX Energy PLC - London-based oil and gas company - Spuds the MSD-23 infill development well at the Meseda field on the West Gharib concession in Egypt. MSD-23 is the fifth well in a fully funded 13 well development campaign. The fourth well, MSD-24, is currently producing in line with pre-drill estimates at 300 barrels per day. Operations at the third well continue.

The campaign aims to grow production to between 3,500 to 4,000 barrels per day by mid-2023.

Current stock price: 9.13 pence, down 0.3% on Wednesday

12-month change: down 43%

Copyright 2022 Alliance News Limited. All Rights Reserved.