SDX Energy PLC - London-based oil and gas company - Spuds the MSD-27 infill development well at the Meseda Field on the West Gharib concession in Egypt. SDX holds a 50% working interest on the concession. MSD-27 is the sixth well in a fully-funded 13 well development campaign on the Meseda and Rabul oil fields. The campaign aims to grow production to between 3,500 barrels per day to 4,000 barrels by mid-2023.

Elsewhere on the field, completion and tie-in activities are underway at MSD-23 while operations at MSD-20 expected to recommence in the coming weeks following the replacement of a rig.

Current stock price: 9.99 pence

12-month change: down 32%

Copyright 2022 Alliance News Limited. All Rights Reserved.