SDX Energy said Thursday that it has suspended trading of its shares immediately and confirmed that it is in talks with BP to acquire some of the oil major’s assets in Egypt.
SDX Energy Inc. (TSXV, AIM: SDX), the North Africa focused oil and gas company, notes the recent press speculation relating to the Company.
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The Board confirms that it is in discussions for the acquisition of a significant package of assets in Egypt from BP (the “Acquisition”). The Acquisition would constitute a reverse take-over under Rule 14 of the AIM Rules for Companies and would be subject to Shareholder approval.
In accordance with the AIM Rules the Company’s shares have been suspended from trading on AIM with immediate effect and will remain suspended until an AIM admission document has been published or until the Company confirms that the Acquisition is not proceeding. Trading in the shares of the Company on the TSX Venture Exchange will also be halted during such time.
A further announcement will be made as and when appropriate.
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