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2015 Highlights

  • Gross Prospective Resources of
    228 MMBOE
  • 2P Reserves of
    7.34 MMBOE
  • Average daily oil sales of
    1,519 barrels
  • Reduced net debt to zero
  • Average Opex of
    US$10.89/bbl

Key 2015 Highlights

  • Completed business combination between Sea Dragon Energy Inc and Madison PetroGas Limited on October 1, 2015 to create SDX Energy Inc;
  • Realized Net Revenues of US$17.6MM and a Netback of US$11.5MM;
  • Exited 2015 with cash on hand of US$8.2MM and zero debt;
  • Invested US$4.6MM of capital expenditure into business;
  • Average daily oil sales in 2015, 1,519 bopd;
  • Average daily gas/liquids production in 2015, 152 boepd;
  • In North West Gemsa, completed 7 successful work-over wells and spudded Al Amir SE-23 development well, which was completed and tested at 4,080 boepd in February 2016;
  • In Meseda the MSD-6 well logged 146 feet of high quality net pay and was brought on production at 330 bopd. 2 Further wells were drilled during the year which will be used for water injection needs.
2015 Annual Report
(PDF, 3.5MB)

Conference Call

We will be starting to have conference calls shortly and will announce the dial-in details here.