TIDMSDX

RNS Number : 7423O

SDX Energy PLC

05 October 2023

5 October 2023

SDX ENERGY PLC ("SDX" or the "Company")

SDX/CITIC GAS PREPAYMENT PARTNERSHIP UPDATE

SDX is pleased to announce that, further to its announcement on 13 September 2023 where the Company announced a Gas Prepayment Heads of Terms ("HoT"), the prepayment amount of c. $1.9 million has now been received from DIKA MOROCCO AFRICA, a 100%-owned subsidiary of CITIC Dicastal, which is a subsidiary of Citic Group, a Chinese holding company with a corporate portfolio approaching $1 trillion.

This prepayment shows evidence of a deepening partnership between SDX and CITIC Dicastal, which is the Company's largest offtaker and has an increasing and immediate demand for SDX's gas.

The funds will be used primarily to pay the costs of drilling the KSR-21 well in Morocco.

For further information:

 
 SDX Energy Plc 
  Daniel Gould, Managing Director 
  William McAvock, Chief Financial 
  Officer 
  Tel: +44 (0) 20 3219 5640 
 Shore Capital (Nominated Adviser and Broker) 
  Toby Gibbs/Iain Sexton 
  Tel: +44 (0) 20 7408 4090 
 
   InHouseIR (Investor and Media Relations) 
   Sarah Dees/Oliver Clark 
   Email: sdx@inhouseir.com 
   Tel: +44 (0) 78 8165 0813 / +44 (0) 20 3239 1669 
 Camarco (PR) 
  Billy Clegg/Owen Roberts/Violet Wilson 
  Tel: +44 (0) 20 3757 4980

About SDX

For further information, please see the Company's website at www.sdxenergygroup.com or the Company's filed documents at www.sedar.com .

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October 05, 2023 02:00 ET (06:00 GMT)

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