SDX Energy 's ( CVE:SDX ) most recent well results from the North West Gemsa field, onshore Egypt, was considerably better than market expectations, says broker Cantor Fitzgerald. It comes after the Al Amir SE 23 well flowed more than 3,000 barrels of oil per day. Cantor rates SDX as a 'buy' and with a C$4.00 target price the broker sees some 700% upside to the current price of around 50 Canadian cents. "This week's well result is particularly significant, not just in the context of volume or quality of oil produced on test, but how the company has consolidated its technical understanding of its Egyptian acreage following the recent merger," analyst Sam Wahab said in a note. He added: "This week's result was considerably above the market's expectations, with the well expected to be another strong producer from the Shagar zone. "Drilling costs were 30% lower than previous wells on a comparative basis, making it both a technical and commercial success."