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SDX Energy chief on US$100mln market cap goal

Paul Welch, president and chief executive of SDX Energy (CVE:SDX), says this week’s oversubscribed placing had plenty of institutional support and bodes well for the company’s AIM listing on May 20th 2016.

By broadening the investor base and getting the message out about the company’s work programme in Egypt and aspirations in North Africa, Welch is hopeful SDX Energy’s market capitalisation will match its current NAV which is over US$100 million. “I think we’re at the low ebb of the cycle and this is the time when you need to make investments. You need to put money into the ground because that’s where it’s going to grow and so that’s what we’re doing.”

The US$11mln raised will fund the company’s programme in Egypt which Welch says “will allow us to essentially double our production and triple our reserves.”

Quick facts: SDX Energy Inc

Price: 17.25 GBX

AIM:SDX
Market: AIM
Market Cap: £35.43 m
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SDX Energy sets timeline for TSX delisting and provides update on South Disouq

SDX Energy (CVE:SDX-LON:SDX) President and CEO Paul Welch joined Proactive Investors Steve Darling on Skype to update the timing of their delisting from the Toronto Stock Exchange and solely list on the AIM market in London. Welch also providing Proactive with an update on their South...

on 8/4/19

2 min read