Post by
andy604 on Oct 18, 2018 2:07am
Shell and SDX talks terminated
18 October 2018
SDX ENERGY INC.
(“SDX” or the “Company”)
Update on Potential Acquisition
SDX Energy Inc. (TSXV, AIM: SDX), the North Africa focused oil and gas company, announces that, further to the announcement made on 20 September 2018, discussions regarding its proposed acquisition of a significant package of assets in Egypt from BP have been terminated by mutual agreement.
The Company has requested for the restoration of trading on both AIM and the TSX Venture Exchange.
SDX continues, in line with its stated strategy, to review and pursue inorganic growth opportunities across its areas of operations in North Africa.
- Ends -
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
Stifel Nicolaus Europe Limited (Nominated Adviser and Joint Broker) Callum
Comment by
Money_514 on Oct 18, 2018 7:27am
I guess no deal is better than a bad deal in this case.
Comment by
CoreyB on Oct 18, 2018 12:39pm
Why would it be a bad deal? If it could have been funded with BP taking a % of production as payment instead of us having to issue and dilute, it would have been a great deal in my opinion.
Comment by
Money_514 on Oct 18, 2018 3:30pm
No one but SDX management knows what BP was offereing. I am sure if the deal was good for SDX and BP, than there would have been an agreement on the deal. I guesss that we wil have to wait for update and the next quarterly financial release to see a pop in the share price.