SDX Energy Regulatory News (SDX)

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 AS AMENDED.

31 October 2022

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

DIRECTORATE CHANGES

APPOINTMENT OF NON-EXECUTIVE CHAIRMAN

SDX Energy Plc (AIM: SDX), the EMEA-focused energy company, is pleased to announce the appointment of Jay Bhattacherjee as Non-Executive Chairman of the Company with immediate effect.

Jay Bhattacherjee holds a B.Sc. in Chemical Engineering with Petroleum Engineering specialty and has over 20 years' experience both operating and leading public and private companies in the energy and natural resources industries with a significant focus on EMEA, the core operational area for the Company. 

Jay was previously Executive Director and CEO of Aminex plc, the London-listed East African gas company which is delivering on strategic, operational and commercial initiatives he put in place. Jay is currently a director of several private companies in the investment, energy, and defence sectors.

The Company also announces that Catherine Stalker, a Non-Executive Director of the Company, has decided to step down from the Board with immediate effect. 

Jay Bhattacherjee said:

"I am delighted to join the Board of SDX, which I feel is a company that has a strong production base, and is materially undervalued.

"With a clear mandate to grow from shareholders, its existing gas-weighted production base, expanding cash flows and the commitment to deliver from its discoveries the Company is poised to support the energy markets at a time of great need. 

"I look forward to the challenge to support your company and take it to the next level." 

Tim Linacre, Interim Chairman of SDX, said:

"I would like to welcome Jay to the Board and look forward to working with him to deliver on a growth platform. He brings with him energy, industry knowledge and a strong track record.

"On behalf of the Board, I want to thank Catherine for her valuable input during her time on the Board and we wish her every success in her other activities."

Additional Information in respect of the AIM Rules

In accordance with Schedule 2 (g) of the AIM Rules, Jay Bhattacherjee, aged 44, holds the following directorships and partnerships:

· Blixtra Ltd

· C21 Advisors Ltd

· Citadel Security Solutions Ltd

· Guardian Global Securities plc (previously Nu-Oil and Gas Plc)

· PMA Life Sciences Ltd

· TerraCreo Ltd

· Trilogy Assets Ltd

· Trilogy Ventures Ltd

and has held the following directorships or partnerships in the past 5 years:

· Aminex Petroleum Services Ltd

· Aminex PLC

· Amossco Holdings Ltd

· Amossco Ltd

· Amossco ODS Ltd

· Canyon Oil & Gas Ltd

· Canyon Oil & Gas MOL SRL

· Canyon Oil & Gas Moldova Ltd

· Canyon Oil and Gas UK Ltd

· Cascade Group Ltd

· Ndovu Resources Ltd

· Osceola Hydrocarbons PLC

· Osceola Oil and Gas Ltd

· TJ Holdings Limited

As at the date of this announcement, Jay Bhattacherjee does not own any ordinary shares in the Company.

Save as set out above there are no further disclosures pursuant to Rule 17 or Schedule Two paragraph (g) of the AIM Rules for Companies in respect of the appointment of Jay Bhattacherjee.

About SDX

SDX is an international oil and gas exploration, production, and development company, headquartered in London, United Kingdom, with a principal focus on EMEA. In Egypt, SDX has a working interest in two producing assets: a 36.9% operated interest in the South Disouq and Ibn Yunus gas fields and a 67.0% operated interest in the Ibn Yunus North gas field in the Nile Delta and a 50% non-operated interest in the West Gharib concession, which is located onshore in the Eastern Desert, adjacent to the Gulf of Suez. In Morocco, SDX has a 75% working interest in four development/production concessions, all situated in the Gharb Basin. The producing assets in Morocco are characterised by attractive gas prices and exceptionally low operating costs. SDX has a strong weighting of fixed price gas assets in its portfolio with low operating costs and attractive margins throughout, providing resilience in a low commodity price environment. SDX's portfolio also includes high impact exploration opportunities in both Egypt and Morocco.

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

Enquiries:

SDX Energy plc

Tim Linacre, Interim Chairman Tel: + 44 (0) 203 219 5640

Stifel Nicolaus Europe Limited (Nominated Adviser and Broker to SDX)

Callum Stewart Tel: +44 (0) 20 7710 7600

Camarco (Financial PR Adviser to SDX)

Owen Roberts/Violet Wilson/Billy Clegg Tel: +44 (0) 203 757 4980