Location construction completed and rig mobilisation underway
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY SDX TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 ("MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
LONDON, March 1, 2017 /CNW/ - SDX Energy Inc. (TSXV, AIM: SDX), the North Africa focused oil and gas company, is pleased to update the market on its indicative drilling timetable on South Disouq.
SDX can confirm that well location construction has been completed and that the Sino-Tharwa 6 drilling rig is currently being mobilised to the location. The Company anticipates drilling to commence at the SD-1X location within the next fortnight.
Paul Welch, President and CEO of SDX, commented:
"We are pleased with the progress we have made around the preparations for the upcoming drilling campaign on South Disouq. We look forward to keeping the market appraised of drilling developments over the coming weeks."
SDX is an international oil and gas exploration, production and development company, headquartered in London, England, UK, with a principal focus on North Africa. In Egypt, SDX Energy has a working interest in two producing assets (50% North West Gemsa & 50% Meseda) located onshore in the Eastern Desert, adjacent to the Gulf of Suez. In Morocco, SDX has a 75% working interest in the Sebou concession situated in the Rharb Basin. These producing assets are characterised by exceptionally low operating costs making them particularly resilient in a low oil price environment. SDX Energy's portfolio also includes two high impact exploration opportunities, South Disouq in Egypt and Lalla Mimouna in Morocco.
Unless otherwise defined, capitalised terms used in this announcement have the same meaning as set out in the Acquisition Announcements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE SDX Energy Inc.
For further information: SDX Energy Inc.: Paul Welch, President and Chief Executive Officer, Tel: +44 203 219 5640; Mark Reid, Chief Financial Officer, Tel: +44 203 219 5640; Cantor Fitzgerald Europe (Nominated Adviser & Joint Bookrunner): Sarah Wharry/Craig Francis, Tel: +44 207 7894 7000; GMP FirstEnergy (Financial Adviser & Joint Bookrunner), Jonathan Wright/David van Erp, Tel: +44 207 448 0200; Celicourt (PR), Mark Antelme/Joanna Boon/Jimmy Lea, Tel: +44 207 520 9260