SDX buys Circle assets

SDX Energy has completed the acquisition of Circle Oil’s assets in Morocco and Egypt for $30m (AE 338/12). SDX has acquired the producing Sebou permit and the Lalla Mimouna permit in Morocco, and the Al Amir and Geyad permits in Egypt’s Gulf of Suez. The acquisition was funded by a share placing on London’s AIM market that raised $40m on 24 January.