LONDON: SDX Energy has executed a binding sale and purchase agreement (SPA) for the disposal of the company’s West Gharib interests in Egypt. SDX Energy also continues to progress the binding documentation for the sale of its South Disouq assets. The Company is focused on delivering shareholder value by focusing its efforts on fully exiting…
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SDX Energy signs deal to divest all of its Egyptian assets
LONDON, UK: SDX Energy has entered into non-binding Heads of Terms with a large multinational operator to divest of all of its Egyptian assets. The company expects to close the transaction by year-end. The signed Heads of Terms represents an important milestone, towards crystallising value for shareholders and optimising the Company’s asset portfolio. The disposal…
SDX Energy receives multiple offers for sale of Egyptian assets
LONDON, UK: SDX Energy plc (AIM: SDX), an oil and gas exploration company, has confirmed that it has received multiple offers for the sale of its Egyptian assets. The Board of SDX Energy is currently evaluating these offers. If a transaction were to proceed, it would be subject to customary conditions associated with such deals,…
SDX Energy commences campaign to drill five wells in Morocco
LONDON: SDX Energy Plc announced the commencement of the first, three well, phase of its 2021 drilling campaign in Morocco, which will comprise up to five wells over the year. Mark Reid, CEO of SDX, commented: “I am pleased to announce that the Company has commenced its 2021 drilling activities of up to eleven wells…
SDX Energy sells 50% stake in North West Gemsa licence for $3.0 million to Gulf Energy
LONDON: SDX Energy Plc, the MENA-focused oil and gas company, announced that it has disposed of its 50% working interest in the North West Gemsa licence, situated in the Eastern Desert of Egypt. The purchaser, Gulf Energy, a private Egyptian oil and gas company, has paid US$3.0 million in consideration for the Company’s interest, of…