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Thursday, 9 June 2022

Another gas discovery for British SDX in South Disouq

SDX strikes more gas: UK-based SDX Energy has made its largest gas discovery yet at its South Disouq concession after drilling its third and final exploration well, it said in a disclosure to the London Stock Exchange (pdf) yesterday. This follows another discovery in March, which is set to start contributing to production this month.

Other things we’re keeping an eye on this morning:

  • New capital officially part of Cairo: Cabinet signed off on an Ittihadiya decision to expand Cairo governorate to include the new administrative capital to comply with the constitutional requirement that the seat of government — including the House of Representatives and Senate — be located in the capital. (Statement)
  • 19011 goes bankrupt: The Cairo Economic Court declared Alpha Pharmacy Management Group — the owner of pharma chain 19011 — bankrupt after it failed to pay debt owed to banks and pharma distributors. (Al Borsa)
  • Stepping closer to GREGY: The Egyptian Electricity Transmission Company (EETC) will this year complete studies on renewable energy player Elica’s proposal to link our electricity grid with Greece. (Al Borsa)

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