Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Lord knows who is doing the selling. Some traders possibly. I very much doubt it's the large and larger holders as the same trading has been going on for as long as I can remember and they've all sat on their hands or even increased their stakes.
Haha Shakey indeed very true, Morocco has always had the better margins but in smaller amounts. Potential at SD to scale up production is very high with other gas target lookalikes to explore and get us way above 50MMscf/d. The reason is as I said before someone is offloading in 50k and 100k blocks that's why the SP hasn't risen that much, just look at the trades.
Yes Mullard that's something I thought had been happening, especially as why would you sell now that SD is online?
SDX's entitlement share (after government take and partner take) of production from South Disouq has been well known by any one who knows anything about SDX.
I think the reason the market hasn't reacted is because this is how I read this rns
24mmcf gross ( sdx has 50prct so 12mmcf net...and then 51 prct net proceed's goes to Egyptian gvrntment....)
So of that 24mmcf ..net SDX only getting around 6mmcf in reality. Of curse that doubles in q1 2020 when goes upto 50mmcf (12.50mmcf net after taxes /royalties)
Not saying they can't add more here but just thought this might explain the limp sdx response.
12 wells in Morocco next will be very interesting as much better commercial terms there.
Cheers
It
Could the seller be a large holder and selling to try and keep the SP low. So a future low take over offer of say 40p to 50p looks attractive . Only reason I can think of ????
Looks like a very positive update. Has the company provided estimated revenues when at plateau in Q1? Would be interesting to compare to current MCAP
It's been a long wait but finally got there. Confidence should start to build now that they are actually fulfilling promises.
Why is someone still selling large chunks of 50 and 100k shares? Must be a big player de-risking but why?
Secondly why hasn't LSE acknowledged the RNS, hello LSE admin are you there please sort it out .....
Need the money to start rolling in.
Seems that nobody give a toss for SDX!!!
Well done Mark. Glad I finally got something right about this company. Bit disappointed that LSE still hasn’t got a red dot showing an RNS yet! Let the cash printing begin.
Yep, it's gapped up, so we'll almost certainly see it back down at 23p again in the coming weeks/months. Hopefully sooner rather than later.
I’ve complained in the past that communication here has been poor. Now I’ll eat my humble pie now and say well done to Mark for bringing this in. It would be good to see him celebrating his appointment by buying some shares!
I think the real kicker will come when we have either new news on exploration results or they mention a divi prospect. So maybe at FY results.
After a spike today it’ll go back to sleep for a while I’m sure.
I would have thought this should add 10% by close, let's see, or will she be pegged back !
atb
"will result in a material increase to Company's cashflows going forward...."
COMMENCEMENT OF PRODUCTION AT SOUTH DISOUQ CONCESSION IN EGYPT
SDX Energy Plc (AIM: SDX), the MENA-focused oil and gas company, is pleased to announce the commencement of production from its operated South Disouq concession (SDX: 55% working interest) in Egypt.
Gas has been flowing through the South Disouq Central Processing Facility ("CPF") since 7th November 2019. Each of the four discovery wells have been hooked up to the CPF and tested during this period and have produced at their expected rates of between 8 MMscf/d and 15 MMscf/d.
Over the last three days, the CPF has been operating as expected, achieving an average gross production rate of 23 MMscf/d of gas and 120 bbls/d of condensate, equivalent to approximately 24 MMscfe/d. These initial flow rates are in line with the Company's expectations and testing will continue over the coming weeks, during which time the Company will gradually ramp up production with a view to achieving its targeted plateau gross production rate of 50 MMscfe/d during Q1 2020.
All gas production will be sold to the Egyptian national gas company, EGAS, at a fixed price of US$2.85/Mcf, with the Government of Egypt's entitlement share of gross production equating to approximately 51%.
Keep reading shakey
Yep, they just didn't bother to announce it lol. Classic SDX.
"We are very pleased to appoint Mark to the role of CEO on a permanent basis. Mark has successfully delivered a number of key milestones since taking over as Interim CEO, including; achieving first gas at South Disouq, Egypt, and the commencement of the Company's drilling campaign in Morocco last month. Mark has the full support of the Board and we remain very positive about the Company's growth trajectory."
Gas is flowing, production will be ramped up to maximum pressure in q1 2020.