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1、SDX Energy Plc 2021 Annual Report&Financial StatementsSupplying energy in an environmentally conscious manner to the benefit of all our stakeholders“2021 was a year of both challenges and successes.Our portfolio continued to perform well with production above mid-point guidance,and Netback and EBITD
2、AX showing growth of 21%and 22%.Impairment charges relating to South Disouq and Lalla Mimouna Nord have resulted in a statutory loss for the year.The Group had mixed drilling results.The disappointment was the unsuccessful Hanut well,however there were a lot of positives;the IY-2X development well w
3、as drilled successfully and production brought on quickly maximising value from the field.In Morocco all our three wells were drilled successfully and all were tied into production infrastructure soon after drilling.Our fourth Moroccan well has encountered some issues however we plan to recommence d
4、rilling the well in early Q2 2022.At West Gharib in Egypt,the first well of our 13 well campaign was spud in October with the entire program looking to bring on additional barrels of oil and take advantage of the higher oil price environment.Post period end,we have been able to announce the successf
5、ul drilling of the first and second wells and the testing and tie in of both.SDXs board and management has always approached the business from the perspective of maximising value for all stakeholders.As such,we were pleased to announce in February 2022 that the Group disposed of 33%of the shares in
6、the entity that holds its interests across its South Disouq concession for US$5.5 million which was at a significant premium to the assets value within our market capitalisation.As a result,a share buyback program of up to US$3.0 million is planned to be initiated in the second half of the year.I am