SDX Energy Regulatory News (SDX)

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.

 

 

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About SDX

For further information, please see the Company's website at www.sdxenergygroup.com or the Company's filed documents at www.sedar.com.