SDX Energy has acquired the Egyptian and Moroccan assets of Circle Oil, debt free, for a gross consideration of US$30 million (US$28 million net of working capital adjustments). We believe that this is an exciting purchase that provides a substantial boost to production, reserves and cash flow potentially generating incremental free cash flow of approximately US$50 million over the next two years which will allow management to build up the business both organically and through acquisition.
....06 Feb 2017
Circle Oil acquisition a game changer
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Circle Oil acquisition a game changer
SDX Energy PLC (SDX:LON) | 3.6 0 1.4% | Mkt Cap: 7.36m
- Published:
06 Feb 2017 -
Author:
Peter Hitchens -
Pages:
18
SDX Energy has acquired the Egyptian and Moroccan assets of Circle Oil, debt free, for a gross consideration of US$30 million (US$28 million net of working capital adjustments). We believe that this is an exciting purchase that provides a substantial boost to production, reserves and cash flow potentially generating incremental free cash flow of approximately US$50 million over the next two years which will allow management to build up the business both organically and through acquisition.
....