SDX Energy PLC Renegotiation of Gas Sales Agreement in Morocco (5694B)
05 Juni 2023 - 8:00AM
UK Regulatory
TIDMSDX
RNS Number : 5694B
SDX Energy PLC
05 June 2023
5 June 2023
SDX ENERGY PLC ("SDX" or the "Company")
Renegotiation of Gas Sales Agreement in Morocco
SDX is pleased to announce that it has, together with the Office
National des Hydrocarbures et des Mines ( " ONHYM " ), renegotiated
a gas sales agreement with one of its key customers in Morocco
aligned with the regional development strategy and consequently
will receive a higher gas price for production with effect from 1
May 2023.
This price increase will enable the Company to expand its
exploration and production in Morocco, and permitting for the
summer drilling campaign has already commenced.
Morocco remains a core focus for SDX and the Company is well
placed to seize the opportunities presented by a very demanding
energy market.
Jay Bhattacherjee, Interim Executive Chairman, said:
"We are delighted that we have been able to renegotiate the gas
sales agreement with one of our key customers and would like to
thank ONHYM for its continued support. Morocco remains a core area
for us and we endeavour to expand our energy provider footprint in
the country."
**ENDS**
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED
UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014
WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL)
ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A
REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO
BE IN THE PUBLIC DOMAIN.
For further information:
SDX Energy Plc
Jay Bhattacherjee, Interim Executive
Chairman
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
Camarco (PR)
Billy Clegg/Owen Roberts/Violet Wilson
Tel: +44 (0) 20 3757 4980
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END
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