5 Oct 2023 07:00
5 October 2023
SDX ENERGY PLC ("SDX" or the "Company")
SDX/CITIC GAS PREPAYMENT PARTNERSHIP UPDATE Â
Â
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.
Â
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.
Â
The funds will be used primarily to pay the costs of drilling the KSR-21 well in Morocco.
Â
Â
For further information:
Â
SDX Energy Plc Daniel Gould, Managing Director William McAvock, Chief Financial Officer Tel: +44 (0) 20 3219 5640 Â | Â Â |
Shore Capital (Nominated Adviser and Broker) Toby Gibbs/Iain Sexton Tel: +44 (0) 20 7408 4090 | |
 InHouseIR (Investor and Media Relations) Sarah Dees/Oliver Clark Email: sdx@inhouseir.com Tel: +44 (0) 78 8165 0813 / +44 (0) 20 3239 1669  | |
Camarco (PR) Billy Clegg/Owen Roberts/Violet Wilson Tel: +44 (0) 20 3757 4980 Â | |
Â
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.
SDX Energy (SDX)