THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY SDX TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 ("MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

31 October 2023

SDX ENERGY PLC ("SDX" or the "Company")

SUCCESSFUL KSIRI-21 WELL TEST

SDX is pleased to announce the completion of testing operations on the KSR-21 well in Morocco. The well, ?targeting a prospect within the Hoot formation, was drilled to a total vertical depth of 1,955 meters. The well test resulted in a flow rate of approximately 4 MMcf/d (on 1/4 inch choke) during the test period.

SDX is the sole independent gas producer in Morocco and works closely with its partner, Office National des Hydrocarbures et des Mines ("ONHYM"), on all aspects of development and production. The gas from SDX's wells is sold to multiple offtakers in the Kenitra industrial area.

For further information:

Competent Persons Statement

In accordance with the AIM Rules for Companies, the technical information contained in this announcement has been reviewed and approved by Mr. Aaron LeBlanc, Head of Operations at SDX Energy Plc. Mr. LeBlanc is a qualified person as defined in the London Stock Exchange's Guidance Note for Mining and Oil and Gas Companies and has the necessary professional and technical competencies to conduct and review petroleum operations. Mr. LeBlanc has a Bachelor of Science Degree in Geology from the University of Calgary and is a professional member of the AAPG. Mr. LeBlanc has 21 years of oil and gas industry technical, operational and leadership experience.

Abbreviations

MMcf/d             million cubic feet per day

About SDX

For further information, please see the Company's website at www.sdxenergygroup.com or the Company's filed documents at www.sedar.com .

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 future drilling developments at KSR-21 should be regarded as forward-looking information.