Member Info for daft63

I believe it was the export line that had 140mmcfd spare capacity available, I have no info on the capacity of the new CPF, we need the gas in hand first. But for a small outfit to get a field into production with these potentials, with no debt, is amazing.

SP started its decline from circa 40p just as they went into admin.

City Financial went into admin in March!

Was it not City Financial who held a chunk before and who kept dumping into a declining market, I'm pretty sure it was. This has been played for some time, with good money made by doing it. But the 2 big holders seem not to be involved, nor bothered by such activity. It goes on with every share.

So $36m pa profits with $15m to come online by year end, SP gives Mcap of $50m, 1 x earnings. $13m in cash + receivables, and huge potential growth. Zero logic.

I totally agree with you, Im fine here, a few delays and setbacks but the big picture remains, self funded growth is the best way to optimise returns, and as you say, little chance of aquisitions. By my calcs we are making $8.2m every quarter, which should increase to $12m with SD. Our present Mcap is next years take, cheap times!

I think you are just confused, your post "earnings" yesterday shows this. SD has no water issues, thats our NW Gemsa field where water cut has reduced production by roughly 15%. With regards to todays rns, its just part of our restructuring, I would be worried but last weeks statement said no intention of a placing for next 12 months, which calms me. If my posts dont make sense to you, just ask and I will try to clarify any points.

Well its not what we expected, but I cant not add at these prices. Cosmoss asks is SD at 1.3tcf or 2.5tcf, well to me it matters not, either figure is worthy of interest to a bigger player. Even at the stingy rates, state take and without the cost recovery its worth $740m/ tcf just for sdx's 55%. Take the other partners stake as well and $1.3b/tcf, you could build your own export line and still make mega bucks. BP were interested for a reason, dont let the gamblers playing with the SP distort the bigger picture.

I dont believe the brokers recognise the new company, I have an account at HL thats showing n.a on value, it may be hours or days before we trade normal.

Your link has rns in it, but try finding it without using the link, I cant!

https://www.investegate.co.uk/aim/rns/schedule-one-update---sdx-energy-plc/201905240800050051A/

Its not appearing anywhere else, not even on investegates index, have to go through shakeys link above, not on company website.

see shakeys post below

As I said at the time, the BP deal was struck but rejected by authorities, either wanted a more solid partner or the baksheesh was on the low side, this was the kick in the balls for PW, and he couldnt get his breath back. The delays just compounded the problem, and its possible that SD delays may be related to conflict with said authorities, add the slow uptake in Morocco and PW was paddleless. Todays Rns includes a company statement assuring 12months of financial sufficiency, template stuff but still an indicator. I would love to know what the BP deal involved, at a value of $600m, was SD part payment? Not happy with where we are but none of the big players sold out, which eases the pain.

The agenda of some of todays posters is clear, same every time we get a rns, not much has changed, the epf is not cost effective, and gemsa we knew was in decline, as for PW he may be in poor health, as its clear to me that MR has been steering for awhile. Uptake is reduced in Morocco but overall the figures still look good for future. Shame on some here, if you dont like it just sell and take the hit.

Q1 results and operating update due in the morning, and the tsx vote.

Northern, yeah we are due some, Q1 results should be soon, with updates on workovers and potential spud of Rabul 7. Morocco uptake should be increased, not posted for awhile, always said I can wait it out, but it should pick up newswise after the vote. Ridiculous SP given where we are, PW needs to get over his manopause and get on it!

Its difficult to tell just whats going on here, if you read some views its a web of deceit and corruption. One view tells us that any "rosy future" outlook is being sucked in, but that same poster claims a 100% rise by June in other posts. Sentiment has dived on a rns that gave no surprises, on thurs morn 150k of sells in a short timeframe had little downside to the sp, open the tsx on friday and 3400 shares sold cause a plummet of 8%. Myself well I prefer to think the best of others, I have long said that planned Capex would cause a squeeze on finances, but its Mark Reid who should be praised here, he has kept PWs leash tight, and its good that PW is trying to pull away, thats his job. If delisting saves 750k then save it, if it also allows our major IIs to take up more then why not, there is no evidence to suggest that the 2 big holders have been anything but loyal and supportive, it could help the sp by reducing availability.As for SD delays, some will be paperwork, some fiduciary prudence and some technical, its not lego click and connect, ultrasonics and pressure testing take time.every valve,weld and sensor undergoes rigorous examinations by numerous authorities and regulators. Until such time that evidence proves otherwise, I am going to believe whats told, SDX has moved a long way forward in 2yrs 10 months since aim listing, it has self funded major development and exploration on numerous projects, compared to other oilies its progress should be regarded as a huge success. As we move towards returns that no one here denies, it would be wrong of me to change my outlook based on rumours and theories which have no standing, I will judge on results not the imaginations of others, and take my chances on whats proven. Lifes a gamble and if Im wrong I will take the hit, but some of the fears raised recently may just be Fake News.

We knew the cash position back on 28th Jan, in the Jan Sdx presentation, its exactly as stated, so why is anyone surprised? We also knew that some projects are delayed due to good financial management, offsetting costs against dues shows how well this company is controlled by our CFO, in fact the entire team has shown how to deliver multiple objectives on budget in countries not famed for such. Any drop in SP is by those who wish to manipulate, not due to any shocks in the rns, make what you want from it, opinions will always differ, but its exactly as expected.

It is now! & climbing....

It is hard to be critical with Shakeys POV, this share seems to have followed the trend down, so if it makes a break now then its better for us all, hopefully.
Cashflow- I'm not expecting great year end results, Capex has been draining whilst income was close to stagnant, this is why we are now delaying drills as compared to the original plans, remember we were going to start drilling Morocco Q1 19 and SD online ye18, these are why the SP sank, but the positive to take from this is that good financial management means we remain debtfree despite these setbacks. Looking forward is much rosier, Morocco this year should generate circa $27m if targets are met, possibly rising to ~$40m in 2020, maybe $60m+ by 2021,filling that pipe on 5yr contracts gives good stability to the company. In SD we are told the export line has 140mmcf of capacity, which with cost recovery should generate circa $48m pa, and we have spent and will be spending enough to get these returns for a few years, and maybe find a way to export more from the field in time to come. Along with our oil its easy to see income above $110m pa in a short timeframe, eg 2 yrs, which is why we are now in a dangerous situation regards cheap takeover, make no mistake the above figures dont go unnoticed, despite what the market and SP may be doing, there are those who plan long term, and the gains are easily managable.

Dont get too wrapped up in the year end figures, we roughly know whats in the bank, and what needs to be spent, the past is exactly that, and as investors we should always be looking forward, achieving the goals within budget is key, small delays are managable, the rewards are clearly in sight. ATB.