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SDX Energy boss hails 'transformational' $30mln asset acquisition

SDX Energy Inc (LON:SDX, CVE: SDX) has revealed it will pay US$30mln to acquire Circle Oil’s assets in Egypt and Morocco.

The deal will see SDX increase net production by almost 250% to 4,705 barrels oil equivalent per day.  Reserves, meanwhile, rise by 64% to 12.03mln barrels oil equivalent.

CEO Paul Welch tells Proactive: ''For us it's a transformational deal ... it takes us up to a significant amount of production and most importantly it increases our yearly cash flow by $21mln - and that's what's attractive to us''.

Quick facts: SDX Energy Inc

Price: 17.0001 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