News listings

energy-pedia farmouts/divestments

Egypt flagEgypt

Middle East / Africa >>> Egypt

Egypt: SDX Energy announces reconstitution of South Disouq disposal transaction

07 Mar 2023

Photo - see caption

SDX Energy has announced that, at the request of the Egyptian Natural Gas Holding Company ('EGAS'), its wholly owned subsidiary, Sea Dragon Energy (Nile) B.V., and Energy Flow Global Limited ('EFGL') have reconstituted the transaction announced on 1 February 2022.

There is no change to the underlying economic substance of the original transaction. Under the original transaction, EFGL acquired an effective 18.15% interest in the South Disouq concession through its acquisition of 33% in Nile B.V.. Under the Reconstitution, Nile B.V has assigned a direct 18.15% interest in the South Disouq concession to EFGL by way of a Deed of Assignment. EFGL has simultaneously returned its 33% stake in Nile B.V. to SDX for a nominal fee of $1. The parties have agreed to an effective date, as of the signature by the Egyptian Minister of Petroleum of the Deed of Assignment on 22 February, 2023.  

As EFGL is considered a related party of SDX, the Reconstitution represents a related party transaction under the AIM Rules. The directors of the Company having consulted with the Company's nominated adviser, consider that the terms of the transaction are fair and reasonable insofar as its shareholders are concerned.

Original article link

Source: SDX Energy

Bookmark and Share

A global information service for upstream oil and gas opportunities - divestitures, farmins and farmouts and licensing rounds.

Subscriber Only Deals

Current Deals

Current Upstream Deals: 277

Completed Deals

Completed Upstream Deals: 6459

Company Profiles

Current Company Profiles: 2886

Corporate Activity

Current Corporate Activity articles: 4038

Companies Looking

Current number of articles: 463

Company Sales

Current Company Sales articles:1622


Current Geostudies articles: 920

How to subscribe

energy-pedia Jobs

RSS Feed Widget
See all jobs...

energy-pedia Databank

The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. Read more...

energy-pedia Glossary

A list of commonly used terms in the oil and gas industry. Read more...


Subscribe to the FREE
energy-pedia Daily Newsletter

Union Jack Oil 149
Rose & Assocs 180
Telos NRG
Government of South Australia
About energy-pedia

energy-pedia news is a FREE news service written and edited by E and P professionals for E and P professionals.

We don't just report the news, we give you the technical background as well, with additional information derived from our unique energy-pedia opportunities service.
Contact us

energy365 Ltd

238 High Street
London Colney
St Albans

Tel: +44(0)1727 822675