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SDX showing “capital discipline” with Cameroon withdrawal, says Cantor

SDX Energy Plc (LON:SDX) revealed on Thursday it is withdrawing from the Bakassi West project, offshore Cameroon.

The partners in the venture had asked the Cameroon authorities for an extension to the current exploration phase, to allow further analysis following the Manatee-1 well but this was denied.

Sam Wahab, an analyst at Cantor Fitzgerald, tells Proactive Investors he believes the company has made the right choice to walk away.

“I think the market would have been encouraged by this; it shows that the company is demonstrating a strong approach to capital discipline.

“They don’t see spending any more money on their non-core assets, favouring instead to spend it more wisely, in my opinion, on their high production growth story in Egypt,” he says. 

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Price: 17 GBX

AIM:SDX
Market: AIM
Market Cap: £34.91 m
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SDX Energy sets timeline for TSX delisting and provides update on South Disouq

SDX Energy (CVE:SDX-LON:SDX) President and CEO Paul Welch joined Proactive Investors Steve Darling on Skype to update the timing of their delisting from the Toronto Stock Exchange and solely list on the AIM market in London. Welch also providing Proactive with an update on their South...

on 04/08/2019

2 min read