REG - SDX Energy PLC - Contract

SDX EnergyAnnouncement

05/10/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231005:nRSE7423Oa&default-theme=true

RNS Number : 7423O  SDX Energy PLC  05 October 2023

5 October 2023

SDX ENERGY PLC ("SDX" or the "Company")

SDX/CITIC GAS PREPAYMENT PARTNERSHIP UPDATE

 

SDX is pleased to announce that, further to its announcement on 13 September
2023 where the Company announced a Gas Prepayment Heads of Terms ("HoT"), the
prepayment amount of c. $1.9 million has now been received from DIKA MOROCCO
AFRICA, a 100%-owned subsidiary of CITIC Dicastal, which is a subsidiary of
Citic Group, a Chinese holding company with a corporate portfolio approaching
$1 trillion.

 

This prepayment shows evidence of a deepening partnership between SDX and
CITIC Dicastal, which is the Company's largest offtaker and has an increasing
and immediate demand for SDX's gas.

 

The funds will be used primarily to pay the costs of drilling the KSR-21 well
in Morocco.

 

 

For further information:

 

 SDX Energy Plc

 Daniel Gould, Managing Director

 William McAvock, Chief Financial Officer

 Tel: +44 (0) 20 3219 5640

 Shore Capital (Nominated Adviser and Broker)

 Toby Gibbs/Iain Sexton

 Tel: +44 (0) 20 7408 4090

 InHouseIR (Investor and Media Relations)

 Sarah Dees/Oliver Clark

 Email: sdx@inhouseir.com (mailto:sdx@inhouseir.com)

 Tel: +44 (0) 78 8165 0813 / +44 (0) 20 3239 1669

 Camarco (PR)

 Billy Clegg/Owen Roberts/Violet Wilson

 Tel: +44 (0) 20 3757 4980

 

About SDX

For further information, please see the Company's website at
www.sdxenergygroup.com
(https://url.avanan.click/v2/___http:/www.sdxenergygroup.com/___.YXAxZTpzaG9yZWNhcDphOm86YjM2Nzk5ZmVjNDlhNjIxMWUwNjljN2UxOTc4YWIwY2E6NjoyZDcxOjlkZjhiMzM0YjU0YTI5ZmU2N2JlYTY5MTJiMTUyZjY2YTliMTAzZThjOWYzZTI3OWVhNjgyZDA1MDQ2MDU1NjA6cDpU)
or the Company's filed documents at www.sedar.com
(https://url.avanan.click/v2/___http:/www.sedar.com/___.YXAxZTpzaG9yZWNhcDphOm86YjM2Nzk5ZmVjNDlhNjIxMWUwNjljN2UxOTc4YWIwY2E6NjoyOWUwOjU5ZTIyZDBjZjMwZmM2ZjliMWU5OGVmZTJhOTgzNjhmN2RkMGZlYWM1NzRjNmViMmQ0ZWJlNzkwZDgyNjA0YTE6cDpU)
.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  CNTNKQBQKBDBNKK