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Look at june 23 accounts and dec 23 finals acc, explain how cash balance reduced by 3m?
The whole aim was to dispose egyptian asset as one and get shareholder approval. This hasnt happened.
Surprised he had time for the worlds shortest interview . Very very busy doing what. I would not let him run my bath. No drive or ambition, just shareholder value destruction. Can not see this company sp ever getting above 6p again. Kicking myself for not selling my remaining stock at over 8p. What a fool
I don't get that logic maestro, the assets are producing and profitable. The issue has always been repatriating cash, not profitability.
All the money from WG has been spent. Imho
SD disposal looks like it will take time, if they spend another 1 year trying to sell that then they would receive less cash. As most cash would be spent on admin fees etc.
Very dissapointing Sdx so far..
Can you provide link ?
Cant find it
Video from CEO on LinkedIn
That suggests the capex for 2023 is much reduced
Why the need to drill more wells until the complete sale not done?
The current cash received from WG has already been spent inc admin expenses.
Very dissapointng on top we paying $1.4m in liabilities.
The reason why this is not yet in production is because the Moroccan authorities have not yet signed off.In any case current production is sufficient to satisfy the demand
Nice! Hopefully the RNSs come more regularly now and with more good news. Have a good weekend all.
The 500k deal is my buy !
Ridiculous reaction. Let's hope they can get the other deal quickly concluded.
The figures for WG are pretty much as set out previously so why the negative reaction ? I think we have a concerted move to to get the price down.But for what reason ? Noone has the clout to force a takeover below NAV
Well, it's progress. And as much as we have felt starved of info on various fronts, seems that RNSs will indeed only come when there is material news, no problem for me.
1.4m of that is going to tax liabilities.
So they will get 5.2m dollars, 2m from there to pay for current drill and around 700k of interest to aleph for the year.
Why is sd taking so long?
Nm
12 months results you have 6 months to publish them. Interim results you have 3 months.
Been over 3 months since that rns, also why are they paying in instalments and taking so long to pay?
The Jan RNS, "Egyptian West Gharib asset sale documentation agreed with execution and closing expected later in January, subject only to administrative steps being completed.".
As well as 2023 results at end of April, management need to restore confidence. Maybe some 2024 cashflow scenarios are appropriate given the higher debt interest than expected in Q1 2024?
But they burning cash, they borrowed money from aleph with high interest rate.
By now the disposal should have been done. And we could move on. Char are trying to extract gas from northern morocco when this happens their leverage will go.
Need to hurry in Morocco
It's easy to say it was a good offer with retrospect. I voted against and given our nav, would again
Almost a year and we dont have a clue whats going on.
Aleph screwed us with rejecting that offer.
If the potential buyer is playing hardball why not move on?
Only if they can be bothered.
I think results due in a couple of weeks so should get an update then
What i have reservations about is that the buyer wants to pay instalments.
Sdx told us WG will sell for $6.9m and will be paid in instalments. Will SD be paid in instalments too?
Also sdx have stated the ksr well has not been put in production yet but they state they need to quickly complete drilling for bmk so they can quickly put it in production. Why do they need to bmk well when ksr is well is available?
Also Citix has not paid upfront for q2 gas like it did with the last two quarters.
We deserve update of whats going on...