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What do we think all think re results?
I'm fully out ned - good luck to you fellas - financial results should be out very soon.
It was announced by SDX on LinkedIn yesterday.
"SDX Energy was understood to have concluded drilling operation.."
Well going by the spud date, target depth and drill rate of the the other drills I could have also speculated that they have finished drilling operations by now.
Enverus, a paid-for, highly-regarded industry intelligence service, it will be accurate (not that they say anything sensitive anyway)
Hi Ginoir, do you have a source for this please?
Reported today that drilling completed, so expect RNS soon...
SDX - Beni Malek 2 - Rharb Occidental - Drilling operations concluded in onshore Gharb Basin appraisal well
In late April 2024, SDX Energy was understood to have
concluded drilling operations in its Beni Malek 2 (BMK 2) appraisal well on the Beni Malek Sud-Est exploitation permit, located in the Gharb Basin. The well was spudded on 2 April 2024 and had a 1,470 m
PTD. BMK 2 is targeting three stacked reservoirs in the Miocene Guebbas Formation and is appraising SDX's Q1 2020 BMK 1 gas discovery (1,551 m TD) located ~1.5 km away. BMK 2, if successful, will be tied in and
brought onstream. Drilling operations were carried out utilising the Star Valley Drilling #101 rig.
Where is Smelly ? Has he stopped trying to get the price down ?
The tide has turned.First time for ages that an RNS has lifted the share price
So the final payment, due before september is for 2.2 million less 1,4 million in escrow for tax liabilities. "settlement of any tax liability (if any) in full."
Does anyone know how much tax we will pay? It's just a strange remark "if any" to make in the RNS if they're paying 1,4 million into an escrow account.
Looks like we are fir real, barhut. ๐
Another confirmation of progress, short and to the point. Onwards and upwards hopefully.
Are you two for real.
You could be right Legache.With a large discrepancy between asset value and market cap I am sure we will get a bid once extricated from Egypt
I'm going to stick my neck out here but I've been watching some of these trades and I reckon there is a big buyer. All the little trades presumably that fella chucking his holding away rate just getting eaten up, same day after day.
Takeovers only take place with the agreement of all shareholders.Noone here has the clout to force a takeover and once the SD sale has taken place outside parties will be able to see that 3.5p is far too low and we will get a big one
"CEO said we are aiming for a share price of 2p and aleph takeover of 3p"
PMSL! Of course he did!
They now have more flex to create shareholder value. CEO said we are aiming for a share price of 2p and aleph takeover of 3p. Theirs your value and strategy. Iโm not bitter just stunned by this show
Would make sense. Would perhaps indicate the deal is going ahead sooner rather than later perhaps. Otherwise, why incur the higher interest rate?
I was a bit concerned why SDX had fully repaid the EBRD loan and then drawn more from Aleph loan which is of course much more expensive.SDX have explained that the former loan was secured partly on SD and sale was dependent on EBRD approval which was not certain to be given.This could be one reason for delay in SD sale
Still, even it takes a year thats IRO 700k in interest payments. We're expecting the deal to be worth 12-15 million USD. The cap is just 7.3 million. Still, if they complete within 3 months the interest payments will be dwarfed.
Legache
If SD sale was gonna happen within the month they wouldnt have extended drawdown period for additional meagre $700k. Remember interest on the $3.5m is 20%..
There's no reason to think the SD deal will take another year to complete, Maestro. Nothing they have said indicates such
I'm hoping as suggested in the RNS that SD could not be sold as it was used for security. I hadn't thought of that. So hopefully things will progress quicker.
Maybe they could have mentioned the interest rate on the loan note again.
All the money faffed away from WG already now SD will take another year and that would be spent too imho.