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SDX Energy PLC (AIM:SDX, OTC:SDXEF) shares were down around 5% in Thursday morning’s trade after the Morocco-focussed oil and gas firm announced a convertible loan financing which will allow it to advance an energy transition strategy. The company, in a statement , said the facility – a loan agreement for up to US$3.25mln, starting with an immediate US$2mln drawdown – will be used to immediately reduce outstanding debt to the European Bank for Reconstruction and Development (EBRD) and pay critical service providers to accelerate a drilling campaign in Morocco. 27 Jul 2023 Ithaca Energy PLC (LSE:ITH) has declared success with the K2 exploration well in the central region of the UK North Sea, whilst keeping tight lipped on details. The company, which recently returned to the City under public ownership, told investors that the K2 well had "discovered that hydrocarbons were present in the reservoir in the Forties member sandstones, with 45 feet of net thickness". 27 Jul 2023 Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) told investors that the Carrizales Norte 2 (CN-2) well at the Tapir Block project in Colombia could potentially produce at a rate of 1,400 barrels of oil per day (bopd). The company, in a […]
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