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Contract

5th Oct 2023 07:00

RNS Number : 7423O
SDX Energy PLC
05 October 2023
 

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.

 

 

For further information:

 

SDX Energy Plc

Daniel Gould, Managing Director

William McAvock, Chief Financial Officer

Tel: +44 (0) 20 3219 5640

 

 

 

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: [email protected]

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

 

 

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.

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