SDX Energy Plc (AIM: SDX), the EMEA-focused oil and gas company, is pleased to announce its unaudited financial and operating results for the three and six months ended 30 June 2022.

All monetary values are expressed in United States dollars net to the Company unless otherwise stated

Mark Reid, CEO of SDX, commented 'The results for the last quarter have been both positive and encouraging with our production from Morocco and South Disouq ahead of our guidance and the drilling success seen at South Disouq earlier in the year already contributing to cashflows. Whilst mechanical issues with a rig at West Gharib mean that production is slightly lower than forecast, our success with the remainder of the wells, including as announced today, MSD-27, means that we are now achieving gross production of approximately 2,400- 2,500 bbl/d from this concession, and we are set to continue to add valuable barrels to our production mix as the year progresses. We believe that continued strong operational performance from the Company has been overshadowed to some degree by corporate news in the past quarter, with the proposed combination with Tenaz Energy ultimately not progressing and the introduction onto the Company's register of a new group of shareholders led by Aleph Commodities Limited. We are very pleased to welcome the Aleph shareholders as long-term investors who are aligned with Management's strategy of growth and increasing returns for all SDX stakeholders. We look forward to updating the market further as we work with our shareholders to map out what will be an exciting future for the Group.'

About SDX

SDX is an international oil and gas exploration, production, and development company, headquartered in London, United Kingdom, with a principal focus on EMEA. In Egypt, SDX has a working interest in two producing assets: a 36.9% operated interest in the South Disouq and Ibn Yunus gas fields and a 67.0% operated interest in the Ibn Yunus North gas field in the Nile Delta and a 50% non-operated interest in the West Gharib concession, which is located onshore in the Eastern Desert, adjacent to the Gulf of Suez. In Morocco, SDX has a 75% working interest in four development/production concessions, all situated in the Gharb Basin. The producing assets in Morocco are characterised by attractive gas prices and exceptionally low operating costs. SDX has a strong weighting of fixed price gas assets in its portfolio with low operating costs and attractive margins throughout, providing resilience in a low commodity price environment. SDX's portfolio also includes high impact exploration opportunities in both Egypt and Morocco.

Contact:

Mark Reid

Tel: +44 203 219 5640

Forward-looking information

Certain statements contained in this press release may constitute 'forward-looking information' as such term is used in applicable Canadian securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, or future events or are not statements of historical fact should be viewed as forward-looking information. In particular, statements regarding the formulation of the Company's strategic review and expansion plans, the Company's production and capex guidance; liquidity and sources of cash flows for the remainder of 2022, and the Company's future drilling developments and results, should be regarded as forward looking information. The forward-looking information contained in this document is based on certain assumptions, and although management considers these assumptions to be reasonable based on information currently available to them, undue reliance should not be placed on the forward-looking information because SDX can give no assurances that they may prove to be correct. This includes, but is not limited to, assumptions related to, among other things, commodity prices and interest and foreign exchange rates; planned synergies, capital efficiencies and cost-savings; applicable tax laws; future production rates; receipt of necessary permits; the sufficiency of budgeted capital expenditures in carrying out planned activities, and the availability and cost of labour and services. All timing given in this announcement, unless stated otherwise, is indicative, and while the Company endeavours to provide accurate timing to the market, it cautions that, due to the nature of its operations and reliance on third parties, this is subject to change, often at little or no notice. If there is a delay or change to any of the timings indicated in this announcement, the Company shall update the market without delay.

Forward-looking information is subject to certain risks and uncertainties (both general and specific) that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements. Such risks and other factors include, but are not limited to, political, social, and other risks inherent in daily operations for the Company, risks associated with the industries in which the Company operates, such as: operational risks; delays or changes in plans with respect to growth projects or capital expenditures; costs and expenses; health, safety and environmental risks; commodity price, interest rate and exchange rate fluctuations; environmental risks; competition; permitting risks; the ability to access sufficient capital from internal and external sources and changes in legislation, including but not limited to tax laws and environmental regulations. Readers are cautioned that the foregoing list of risk factors is not exhaustive and are advised to refer to the Principal Risks & Uncertainties section of SDX's Annual Report for the year ended 31 December 2021, which can be found on SDX's SEDAR profile at www.sedar.com, for a description of additional risks and uncertainties associated with SDX's business. The forward-looking information contained in this press release is as of the date hereof and SDX does not undertake any obligation to update publicly or to revise any of the included forward looking information, except as required by applicable law. The forward looking information contained herein is expressly qualified by this cautionary statement

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