REG - SDX Energy PLC - Renegotiation of Gas Sales Agreement in Morocco

SDX EnergyAnnouncement

05/06/2023 07:00

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RNS Number : 5694B  SDX Energy PLC  05 June 2023

 

5 June 2023

 

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

 

Renegotiation of Gas Sales Agreement in Morocco

SDX is pleased to announce that it has, together with the Office National des
Hydrocarbures et des Mines ("ONHYM"), renegotiated a gas sales agreement with
one of its key customers in Morocco aligned with the regional development
strategy and consequently will receive a higher gas price for production with
effect from 1 May 2023.

 

This price increase will enable the Company to expand its exploration and
production in Morocco, and permitting for the summer drilling campaign has
already commenced.

 

Morocco remains a core focus for SDX and the Company is well placed to seize
the opportunities presented by a very demanding energy market.

 

Jay Bhattacherjee, Interim Executive Chairman, said:

"We are delighted that we have been able to renegotiate the gas sales
agreement with one of our key customers and would like to thank ONHYM for its
continued support. Morocco remains a core area for us and we endeavour to
expand our energy provider footprint in the country."

 

**ENDS**

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK
VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH
LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED.  ON
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

 

For further information:

 SDX Energy Plc

 Jay Bhattacherjee, Interim Executive Chairman

 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

 Camarco (PR)

 Billy Clegg/Owen Roberts/Violet Wilson

 Tel: +44 (0) 20 3757 4980

 

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