BP Asset Sale to SDX Called Off

Talks about a proposed BP sale of assets in Egypt to North African gas explorer SDX Energy have been terminated by mutual agreement, the latter said October 18. No reason was given.

SDX disclosed September 20 that such talks were ongoing but did not disclose the BP Egyptian assets, believed to have been non-core mature onshore oil or gas interests. 

SDX said the suspension of its shares from trading on London's AIM stock exchange was lifted early October 18 and it has requested that trading on the Toronto Venture Exchange be resumed. It added that it continues to review and pursue inorganic growth opportunities across its areas of operations in North Africa (Egypt and Morocco).