SDX has raised US$40 mm in a placing at £0.30/sh to fund the US$30 mm acquisition of Circle Oil’s oil & gas exploration and production assets in Egypt & Morocco. This adds 2,600 boe/d (3Q16) of WI production in Egypt and c. 4.5 mmcf/d (750 boe/d) of WI production in Morocco. It also adds 3.8 mmboe of WI 2P reserves (YE15) in Egypt (mainly oil) and 0.9 mmboe of WI 2P (gas) in Morocco. Post-transaction net production increases to almost 5 mboe/d (GMP FEe 1Q17) and net 2P reserves to c. 8 mmboe. SD ....
30 Jan 2017
Game-changing acquisition continues aggressive expansion in North Africa
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Game-changing acquisition continues aggressive expansion in North Africa
SDX Energy PLC (SDX:LON) | 3.6 0 1.4% | Mkt Cap: 7.36m
- Published:
30 Jan 2017 -
Author:
Stephane Foucaud -
Pages:
10
SDX has raised US$40 mm in a placing at £0.30/sh to fund the US$30 mm acquisition of Circle Oil’s oil & gas exploration and production assets in Egypt & Morocco. This adds 2,600 boe/d (3Q16) of WI production in Egypt and c. 4.5 mmcf/d (750 boe/d) of WI production in Morocco. It also adds 3.8 mmboe of WI 2P reserves (YE15) in Egypt (mainly oil) and 0.9 mmboe of WI 2P (gas) in Morocco. Post-transaction net production increases to almost 5 mboe/d (GMP FEe 1Q17) and net 2P reserves to c. 8 mmboe. SD ....