IN BRIEF: SDX Energy says Morocco well confirms presence of gas

SDX Energy PLC - London-based energy company, which currently has a portfolio of exploration, development and production assets in Egypt and Morocco - Says KSR-21 well in Morocco reaches a total vertical depth of 1,955 metres. Notes well drilling data confirms the presence of gas-charged sands in the targeted reservoir section. Earlier this month, SDX agreed to a non-binding gas prepayment heads of terms with Dika Morocco Africa for a drawdown of around USD2 million by the end of the month, which intends to use towards drilling costs of KSR-21.

Current stock price: 4.02 pence, up 7.2%

12-month change: down 57%

By Sabrina Penty, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

SDX Energy