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Egypt: SDX sells NW Gemsa stake for $3m

SDX Energy said on 14 July it had sold its 50% stake in the North West Gemsa licence in the Eastern Desert to Egypt’s Gulf Energy for $3m. Of the total, $1.4m has been used to clear SDX’s remaining liabilities on the licence. SDX said the net $1.6m proceeds exceeded its expectations for the sale.

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African Energy Gulf States Newsletter