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SDX Energy, Gulfsands Petroleum

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SDX Energy (CVE:SDX)

Further good news this morning from SDX who has reported a gas discovery on well KSR -14 on the Sebou permit in Morocco. The 20 metres of net conventional natural gas pay in the Guebbas and Hoot formations were found over four intervals. These results have exceeded pre-drill estimates and the company is working on evaluating recoverable volume estimates.

This result bodes very well for rest of the programme as the company has 6 more development locations followed by 2 exploration wells. With such a good start to the season, two discoveries in six days, things are looking up, indeed this well was drilled faster and cheaper than any before and found twice expectations. SDX is on a roll and investors can expect some early Christmas gifts if things carry on like this.

Gulfsands Petroleum (LON:GPX)

GPX has announced that their Putumayo-14 licence has been extended to 2021 which includes work programme. Given that I am sure that the company wants to farm-out this acreage this is very welcome news especially given the recent flurry of activity in Latin America. John Bell is doing a grand job at GPX and this is further proof of his hard work.

 


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