Published on: December 1, 2017
SDX Energy reported its 2017 Q3 earnings on 21 November. The company has reported a comprehensive income of US$4.4 million for the quarter to give US$30.9 million for the year to date. The company had an underlying netback (revenues less operating costs) of US$7.5 million. The balance sheet has been further strengthened by the US$10 million placing in September to leave net cash at US$30.5 million up from US$27.6 million at Q2 2017. This placing was to accelerate the company’s drilling programme in Egypt and Morocco. We make no changes to estimates.