Sea Dragon Energy Inc. (TSXV:SDX)
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6 Months : From Aug 2019 to Feb 2020
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, Nov. 12, 2019 /CNW/ - SDX Energy Plc (AIM: SDX), the MENA-focused oil and gas company, is pleased to announce the appointment of Mark Reid as CEO of SDX on a permanent basis, having acted as interim CEO since May 2019.
In addition, the Board has appointed Nicholas ("Nick") Box to the position of CFO and Director. Nick has served as Group Financial Controller of SDX since October 2016, having previously spent over 10 years working at PwC with a focus on the natural resources sector. Nick holds the ACA qualification with the Institute of Chartered Accountants in England and Wales.
Michael Doyle, Non-Executive Chairman of SDX, commented:
"We are very pleased to appoint Mark to the role of CEO on a permanent basis. Mark has successfully delivered a number of key milestones since taking over as Interim CEO, including; achieving first gas at South Disouq, Egypt, and the commencement of the Company's drilling campaign in Morocco last month. Mark has the full support of the Board and we remain very positive about the Company's growth trajectory.
I would also like to welcome Nick Box to the Board. Nick brings with him a wealth of experience from his time at PwC and he has played a very important role since joining the Company in 2016."
Nicholas James Box, aged 35, has held the following directorships and/or partnerships in the past five years:
SDX Energy Investments (UK) Limited
Sea Dragon Energy (UK) Limited
SDX Energy Morocco (UK) Limited
SDX Energy Morocco (Jersey) Limited
Sea Dragon Cooperatieve U.A
Sea Dragon Energy Holding B.V
SDX Energy Egypt (Nile Delta) B.V
Sea Dragon Energy (NW Gemsa) B.V
SDX Energy Egypt (Jersey) Limited
Sea Dragon Energy (Nile) B.V
Sea Dragon Energy (GOS) B.V
Sea Dragon Energy Holding Limited
National Petroleum Company Shukheir Marine Limited
National Petroleum Company South Ramadan Limited
Nick holds 20,030 ordinary shares in the Company.
There are no further disclosures required to be made pursuant to Schedule 2 paragraph (g) of the AIM Rules.
SDX is an international oil and gas exploration, production and development company, headquartered in London, United Kingdom, with a principal focus on MENA. In Egypt, SDX has a working interest in three producing assets. In the South Disouq gas field in the Nile Delta, the Company has a 55% operated interest. In the Eastern Desert, adjacent to the Gulf of Suez, the Company has two non-operated oil interests; 50% in North West Gemsa and 50% in Meseda. In Morocco, SDX has a 75% working interest in the Sebou concession, situated in the Gharb Basin. These producing gas assets in Morocco are characterised by exceptionally low operating costs and fixed priced gas contracts making them particularly resilient in a low oil price environment. SDX's portfolio also includes high impact exploration opportunities in both Egypt and Morocco.
For further information, please see the Company's website at www.sdxenergy.com or the Company's filed documents at www.sedar.com.
SOURCE SDX Energy Inc.