SDX Energy has reported its final results with the company reporting a loss after tax of US$28.00 million due to an impairment charge and the write down of its assets in Cameroon. These results are largely immaterial due to the recent acquisition of Circle Oil’s Egyptian and Moroccan assets on 27 January 2017 which will provide a material step change in production, profitability and cash flow. The company is in strong financial health with net cash balances at the end of February of US$
27 Mar 2017
FY 2016 Final Results
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FY 2016 Final Results
SDX Energy PLC (SDX:LON) | 3.6 0 0.0% | Mkt Cap: 7.36m
- Published:
27 Mar 2017 -
Author:
Peter Hitchens -
Pages:
5
SDX Energy has reported its final results with the company reporting a loss after tax of US$28.00 million due to an impairment charge and the write down of its assets in Cameroon. These results are largely immaterial due to the recent acquisition of Circle Oil’s Egyptian and Moroccan assets on 27 January 2017 which will provide a material step change in production, profitability and cash flow. The company is in strong financial health with net cash balances at the end of February of US$