Member Info for Chislehurst

A great interview apart from Malcy constantly coughing and spluttering...one interesting change of tact was when looking long-term PW mentioned that once SDX reached £1b market cap they would consider paying dividends. That has changed from his previous statements that they would look to sell the Company.

https://www.youtube.com/watch?v=pWTeYuYF0bY

As Malcy often states " when the oil price drops too far it becomes more cost effective to for a company to acquire another, rather than fork out for a drill and it's associated costs".

if the shareprice isn't at least 20% higher than it is today by the time the AM reaches Lancaster. In fact, I'd go so far to say it could be 50% higher. Herd instinct will kick in believe me as soon as moves towards the field. I have added circa 100,000 shares to my portfolio in the last couple of days to put my money where my mouth is. Hence the ramp...lol. But from experience in my 30+ years of investing I am 99% convinced I will be right, people will not want to miss out. Oh and the 1% doubt is just in case the boat sinks in which case it won't just be the crew that are fcuked...

Vox podcast is out with PW and Malcy comments - copy / paste didn't work

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Let's hope so.... and let's hope they sort out the permitting for SD (29/12/18) leaves no wriggle room for exiting 2018 >8000 if there's a delay. Come on SDX!!!

Whatever next - a share buyback....The Company's objective is to build up it's net worth and then sell. I have no problem with that, in fact that is why I invested. I will be buying more again soon and look forward to producing 8k boepd followed by good run through the first quarter next year. Looking at the charts the past couple of years has shown good shareprice growth through Dec to May, the question is - will I be brave enough or maybe foolish enough to sell in May...?

also picked up 180,000 PRD by mistake....oh well onwards and upwards

Just picked up 200,000 to help...

You never know,maybe BP talks will resume at some stage, after all someone somewhere wanted to a deal and they spent many weeks discussing the possibility. What I am interested in is what the 20+ target oil producing companies in Egypt are in PW LSE presentation. I can see he has included Dana Gas, Merlon and Kuwait Energy Company as being too small to prosper in the current environment, I wonder what others are on the list.

Adoubleuk - "However I don't reckon on myself still being alive come 2025” - I sincerely hope you are as I for one appreciate your informative posts. But don’t worry yourself to an early demise as I can assure you we are in safe hands.
The Aoka Mizu (AM) will set sail for Rotterdam ably crewed by Captain Pugwash, Master Bates, Seaman Staines and Roger the Cabin Boy. Pugwash was surprisingly commissioned for the AM after irregularities arose surrounding his handling of the Black Pig (his former vessel). Once our motley crew arrive in Rotterdam (“the Port of unlimited opportunities”) Pugwash will attempt to remove the turret plate and get his fare stack up. Staines and Bates will seek medical help whilst ashore after contracting unspecified skin complaint during sea trials. There may be a slight delay to departure from Rotterdam as the crew try to locate Roger who is getting some respite at the Pink Pussycat Bar. Once remedial work has been completed and the crew has been fully assembled the AM will head for some sheltered location close to the Lancaster field allowing Pugwash to take stock of provisions especially fresh meat and crabs. As many a crusty old sea dog can testify, there’s a lot of rough and tumble West of Shetland. Fortunately, Master Bates advises that once on-site, pull-in of the buoy only requires 12 hours of calm seas. Pugwash, Bates and Staines wait expectantly whilst Roger cries himself to sleep sobbing “oil, I need oil”.
See, there’s nothing to worry about 😉

I should imagine that the biggest catalyst for a share price rise would be when the AM leaves Rotterdam not Dubai. There is quite a bit of work to be completed onboard and I can't see the AM leaving there for another 3 or 4 months. Once it leaves Rotterdam then the fun will really start.

I think it's the volcano effect....

It's not because "they fail to pay on time", it's because BP want to concentrate on their bigger, more efficient, newer fields in the country. If we can get hold of an asset that produces 70,000 (net to SDX 35,000) bopd for say $500m with a $300m loan from BP repayable from oil receipts the loan would soon be repaid at 35,000 x $20 minimum net payback (at $70) x 300 minimum up days = $210,000,000 pa you'd pay off the loan in a couple of years. Ok this is back of a fag packet stuff, but this deal could benefit both parties. Depends on BP loan or SDX fundraise (issue more shares). Imagine the shareprice in two or three years time if SDX was producing net 50,000 boepd, no debt and with oil prices close to where they are today, I reckon you'd be getting close to your 10 bagger.

Maestro1 - why worry about a 10 bagger dream - if you double your money overnight just rejoice... it may not happen, nobody here is party to the terms of the deal, or knows if it will even go ahead, so don't count your chickens. But, say the share goes up to 80 or 90p that's brilliant because you would have made money. Then you can choose whether to stick or move your funds to the next potential "10 bagger".

Been digging around and the assets that BP have been looking to divest are it's stake in it's 50 year old joint venture with the EGPC which is the Gulf of Suez Oil Co. (GUPCO). The BP / EGPC joint venture produces over 70,000 bpd and 400 Mmcf/d of gas. I wonder if this is the target? With oil at over $70 pb this would seriously propel SDX into the bigger league.

Exciting times ahead and there was me thinking we're entering a quiet period....I'm sure I heard PW mention a couple of months back that he wanted to build SDX into a $1bn company then look to sell, maybe he has changed his mind and is looking at $5bn...

Only if you accept that it's accept not except ;-)

yes the same as some misinterpret first oil H1 2019 to be anytime in 2018 lol