GlobalConnect completes acquisition of 25% interest in Abu Sennan Concession in Western Desert - ENERGY EGYPT / GLOBAL CONNECT

October 2, 2017

GlobalConnect Ltd., a newly established Oil and Gas Exploration and Production company with focus on MENA (Middle East and North Africa) region, has announced the final approval of Egypt government of its acquisition of 25% (twenty five percent) Participating Interest in the Concession Agreement for the Petroleum Exploration and Exploitation in Abu Sennan Area of Egypt Western Desert.

Farmout Agreement (FOA) was executed on December 15th, 2016, between Kuwait Energy plc (“Kuwait Energy”) and GlobalConnect with effective date of December 31st, 2016. FOA was signed by Sherif Foda – Founder and Chairman of GlobalConnect and Sara Akbar – CEO of Kuwait Energy.

Upon this final approval of Egypt government, GlobalConnect can officially assume its duties and responsibilities as full partner in the Abu Sennan concession.

Dana Gas provides market update on its drilling program in Egypt - DANA GAS

Sharjah, UAE 2 March 2017

Dana Gas, the Middle East’s leading regional private sector natural gas company, provides a market update on its BP-operated Mocha-1 well, drilled in the El Matariya (Block 3) onshore concession in Egypt. 

The Mocha-1 exploration well on Block 3 has been completed. The well reached the top of the targeted Oligocene at a depth of 5,375 metres and reached total depth at 5,940 metres, making it the deepest onshore Nile Delta well drilled to date. The well was drilled through the Messinian (conventional) to Oligocene (deep) targets and encountered hydrocarbons. Whilst the Messinian objective encountered wet gas, the primary Oligocene target did not encounter gas in commercial quantities and the well has been P&A’ed. This important exploration well has helped to de-risk other Oligocene prospects and has proven the presence of a working petroleum system in the onshore Oligocene for the first time. The data is being analysed and evaluated to determine further followup potential. 

Kuwait Energy signs farm-out agreement with Global Connect Ltd for Abu Sennan, Egypt - KUWAIT ENERGY

17 January 2017Kuwait City, Kuwait
Kuwait Energy plc (“Kuwait Energy”) is pleased to announce the signing of a Farm-Out Agreement (FOA) for 25% participating interest in the Abu Sennan concession fromits share, to Global Connect Limited (“Global Connect”); a recently established E&P Company with a focus on MENA region. The FOA was signed in Egypt on Thursday 15 December 2016 and it is effective as of 31 December 2016. The agreement remains subject to government and pre-emption approvals.

The agreement was signed by Sara Akbar, the CEO of Kuwait Energy and Sherif Foda, Founder and Chairman of Global Connect.

On this occasion, Sara Akbar said:

“We are very pleased to welcome a new partner in the Abu Sennan concession. Along with Dover and Rockhopper, Global Connect will now support the concession in the development and exploration efforts. The team at Global Connect brings in a wealth of technical expertise based on their previous experiences. We look forward to working alongside one another to create optimal value for Egypt and all the partners”.

SDX Energy Inc Operations Update - SDX ENERGY INC.

14 November 2016

SDX Energy Inc. (TSXV, AIM: SDX), the North Africa focused oil and gas company, is pleased to provide an operational update on its South Disouq and Meseda concessions in Egypt. 

South Disouq 

As previously announced on 10 October 2016, SDX’s initial assessment of the 3D seismic data at South Disouq was positive and identified potential for both oil and gas bearing prospects. Further interpretation of the data has now indicated several Abu Madi and Kafr El Sheikh prospects displaying strong Class III amplitude versus offset (AVO) responses. Testing of similar responses in offset areas has resulted in numerous discoveries at these stratigraphic levels. These responses have allowed SDX to high grade several prospects for drilling in the near term. These positive AVO responses further derisk the prospectivity in the area, allowing SDX and its partners to achieve the intended goal of the 3D seismic acquisition program.