Further to DEA 9 Jun '20 (farmin offer), SDX reports it has sold its 50% interest in the Al-Amir JV operating the NW Gemsa acreage, onshore Gulf of Suez Basin, to Gulf Energy for USD 3 MM. The acreage encompasses the NW Gemsa (Dev) Geyad, NW Gemsa (Dev) Al Amir + NW Gemsa (Dev) Al Ola field leases (fully developed).
Egypt (Gulf of Suez B.), North West Gemsa (Dev) Geyad op. by SDX ENERGY (50%), NORINCO (50%), EGPC (0%). On 14 July 2020, SDX Energy (SDX) announced the selling of its working interest in the Al-Amir JV operating the NW Gemsa concession, onshore Gulf of Suez Basin, to Gulf Energy. GANOPE (50%) and North Petroleum (25%, operator) are expected to remain partners with Gulf Energy (25%) in the JV.