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Its just a statutory declaration of how many shares they have ahead of a takeover - see AIM rules - expect a few more in the next couple of days - sounds like sale will happen next week
If you say so, Littlened will put a positive spin on this. This company needs to tell and show its shareholders the facts. Egypt sale , why all the secrecy on sale details.
These sales may be connected with coming year end, and Canadian tax on assets on 31 Dec, I have heard on other forums of dual-listed oilies e.g. TXP that many Canadians will get out of their holdings for the month of December to escape that liability, and jump back in on January 1st. Or in the case of these big guys, are they selling a chunk to cover the year end tax liability? The timing (and the fact it is two separate holders) seems to back this up. Presumably if they had major concerns over SDX they would have sold more!? But if anyone has a better explanation, happy to hear it!
It keeps both parties honest in their future relationship
Prudence probably
Okay, but why will they need a prepayment?
I dont think they will, they will still get over $11 per mcf.
What i don't get is why they need the prepayment [presumably with poorer terms] if they will have cash for Egypt...
I tell you what will be nice, if the egyptian sale is announced. Shortly after we get the offtake deal sorted with citic.
"Additional HoT for a larger prepayment transaction to be agreed and planned to be drawn down by early 2024".
This agreement will be close now. One would assume.
28-Nov-23 16:54:57 4.10 200,000 Sell* 4.00 4.10 8,200 O
28-Nov-23 16:54:02 4.10 125,000 Sell* 4.00 4.10 5,125 O
28-Nov-23 14:29:36 4.058 67,608 Buy* 4.00 4.10 2,744 O
28-Nov-23 12:38:24 4.10 125,000 Buy* 4.00 4.10 5,125 O
28-Nov-23 12:38:13 4.10 200,000 Buy* 4.00 4.10 8,200 O
"...definitive legal documentation"
Im assuming documents would have been sent out and now the legals are going through em.
The strategy rns could only have been issued now if the deal would go through. Would look like idiots if it didnt.
Very interested to what they get, granted egypt is not the best place to invest so will be discount how much?
Well if its on track for completion by end of year then we definitely should get an update by end of next week
"Financing Strategy
The successful execution of the Company's Corporate strategy in the short and medium-term is contingent on the effective divestment of SDX's Egyptian assets and executing on the management's funding strategy. The Board remains confident that it is on track for the Egyptian sale as per the Company's earlier guidance and further announcements will be made once definitive legal documentation has been signed to effect the sale." Rns today
Hopefully $15m. Imho on target to complete by end of year.
Well clearly the chinese need gas, they now have 3 factories in kenitra. They helped with upfront payments in september for q4 gas.
I think a bigger offtake will be signed very soon.
Once egypt asset is sold, can see it 10p a share then maube start moving up once wells start to get drilled. Interesting 6 months.
Still maintain they should get £12m, with that they can bring 6 wells into production easy. But i think citic will contribute to wells.
East bagger within a month..
Imho
I agree Legache but the amount of Egypt proceeds will determine the pace of change.New BOD know that they have to provide free cash flow quickly
The sentiment is appreciated Barhut.
The divestment of Egypt and the new value accretive strategy means that risk-reward here is now very attractive. As long as management delivers on pushing more gas through that pipe we're all quids in... Its quite simple.
I'm basically placing a bet on Gould himself in terms of the transition phase. I think the transition is 20 years away and its the next 2-4 years that interest me here.
I hate to see people lose money, so as I have said before I really hope this does come good one day for you guys.
Littlened. Company is still the same just different leaders spouting the same rubbish on high wages. On the ground nothing has changed apart from a few drills.
It’s a big ‘what if’. Like a Tory manifesto lots of hot air and one day in many years we will achieve on one of those promises but at the expense of voters. Since last aug I sold 3/4 of my stock here and invested somewhere else and have seen a reasonable return in companies that deliver.
Maybe but we look at facts dispassionately.This company has changed completely since Barhut lost his money but we will not accept this
Well, he says the same about us!
Ignore Barhut ,he is bonkers
i'm not sure you've read it!
"importing multiples of sdx’s own production volumes from spain" how much do you think this could make them, say if they can fill all 25 mmcfs the pipe holds? back of a *** packet guess acceptable?
I have , it been what they been saying but now in a glossy leaflet. Is this proof after 16 months of share price decline that company has changed, no. Nothing is happening on the ground. Forced into selling Egyptian assets otherwise bankruptcy this company continue to talk waffle of what could be. I still think aleph with take this company for a bag of peanuts.