Petroleum Africa
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Monday, June 12, 2023
SDX Energy has confirmed that the company has received multiple offers in regard to the sale of its Egyptian assets, which the Board are evaluating.
In a release today, SDX stated that “Any proposed transaction would be subject to the usual conditions associated with a transaction of this nature, including but not limited to the satisfaction of a number of condition precedents such as Government and Shareholder approval,” adding “the company will be providing further details in due course as well as further information on the plans to return value to its shareholders via organic and inorganic growth.”
In Egypt, SDX has a working interest in two producing assets: a 36.9%/67% operated interest in the South Disouq concession in the Nile Delta and a 50% non-operated interest in the West Gharib concession located onshore in the Eastern Desert adjacent to the Gulf of Suez.
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