North African-focused oil and gas company SDX Energy Inc. said Oct. 18 it has terminated discussions with BP PLC to purchase a package of assets in Egypt from the London-based major.
SDX confirmed Sept. 20 that it was in talks to possibly buy the assets.
At that time, SDX's shares were suspended from trading on Canada's TSX Venture Exchange and London's junior market, AIM, and would remain that way until an admission document was published, or the company said a deal would not proceed. SDX has now requested that the trading of its shares resumes on the exchanges.
"SDX continues, in line with its stated strategy, to review and pursue inorganic growth opportunities across its areas of operations in North Africa," the company said.