Member Info for daft63

To the pit of isolation, dilly dilly!

Sorry pal, I think She soaks them in sherry.!

Cantors today released an upgrade for SDX energy, after sdx announced that they were to cease all production and exploration, a spokesman for SDX said, Hey bo!!@x whats the point, some t₩♧t will just burn it anyway!! Tarty Mc Duff, analyst at Cantors, said "This is great news, and finally allows us to upgrade SDX by 7000%, its been a long wait, but now that SDX will stop finding $hi+ we can put them up with all the other Aim companies. It was getting ridiculous, every week having to concentrate on ways to stop people having an interest, our gambling division were on our backs daily to thwart any climbs, it even got hostile a couple of times at the +!++�bar, not sharing the girls to snort one from, or waiting till youd lined one up then drowning her in Crystal. Weve been holding back on this cos some of the boys are still counting from 'that gatwick job' if you know what I mean, but soon we will let it go, based on 25 placings, that will be severly discounted to all team members, and then p+d to the eyeballs. We will need to refresh the team, but some of the old boys down at the club are offering to front it, in exchange for global travel plus expenses"

Just the 2, as my 4 oclockers!

Fig rolls for me, a jolly pleasant little treat!

I have on occasion been known to compliment this bb on the quality of its members, I first posted here on the day sdx listed, and as the story evolved, more and more diverse, insightful and well intentioned minds joined in. There was a period, last year, where I gave up posting because I had offended someone, never my intention, but came back purely because the quality improved again. SDX is going to be one of the great investing stories of our days, those here who are well researched will be assured of their decision by the recent news. Morocco has given us an area to attack that should bear fruit, and deeper targets may open new horizons of considerable potential, returns here offer fast cashflow at rates others dream of, and we are supported by a state seeing fast and furious development across the entire country. Egypt is the #1 country for oil and gas development at the moment, ask BP, our producers are giving better returns each month, but at SD we have something I believe is very special, and when PW changed the field potentials from bcf to tcf, he didnt do so on a hunch or hype, thats not how it works, IY has revealed a small part of it, Kelvin could help confirm, or not, but there is much more to come from this area, starting with new estimates from what we drill, also post drill analysis revealing better definition. At whatever rate we produce, money will flow to allow further exploration and development. During the past year, we have had to be patient, awaiting confirmation by the drillbit, but the news of the last 12 days is not a surprise to some of us, just the start of what is to come. The SP rise of pennies has been good for those who work for quick gains, and good luck to those who play this share, we all make our money in ways to suit us, but if you are here for the full magical mystery tour then we are seriously undervalued, even by edisons basic first year maths levels, and most here who are clever enough to see past our nose, can see the very real growth on offer to those with true belief and patience. The 2 biggest threats touted will be 1. Buying a dog that overstretches us, which is not how PW has operated in the past, so no reason to lose faith in his judgement now. 2. Selling out cheap, which I believe we defended against by our majority shareholders who have shown solid faith, belief and similar patience to us. As interest and SP increase we will attract many new posters, many will be genuine investors, traders and some will have devious intentions, rampers will abound, as will the nutters who like to play mind games, keyboard warriors whose joy comes from spreading false rumours and twisted facts. It is down to us to judge on merit those posts, but not to question our own decisions, have faith in your research, trust your instincts and evaluate each piece of news, as it comes from PW and his team, not drivel spouted by idiots like me. Believe in yourself! But like me, SDX DONT DRILL DRY HOLES!!

Until we know, we don't know is the simplest answer, thats about all the references to the subject I can find, but lets leave it to PW and the leaky negotiation team.

The only major difference between the two sets of fiscal terms seems to be the cost recovery is set at 40% for offshore whereas ours is set out below at 25%. Working interest The Company operates with 55 per cent. working interest in the South Disouq concession. Principal fiscal terms The Company is entitled to a share of natural gas and liquefied petroleum gas produced under the South Disouq concession as follows: (i) 25 per cent. if production is 500,000,000 SCFD and above; (ii) 27.5 per cent. if production level is between 250,000,000 and 500,000,000 SCFD; (iii) 30 per cent. of production level is between 100,000,000 and 250,000,000 SCFD; and (iv) 32.5 per cent. if production level is less than 100,000,000 SCFD. According to the South Disouq Concession Agreement, all operational costs and expenses are borne by the Contractor and are subject to cost recovery up to 25 per cent. of the production of the South Disouq Concession Agreement in accordance with its terms. Save for the operational costs, expenses and the bonuses (if applicable), no other payments, whether rent or access of surface rights, are required to be paid by the Contractor to EGAS. Pursuant to the South Disouq Concession Agreement, cost recovery gas price and production sharing gas shall be agreed under the relevant gas sales agreement. The cost recovery and production shares of liquefied petroleum gas produced from a plant constructed and operated on behalf of the Contractor members and EGAS is separately valued for propane and butane in according to a specific formula under the South Disouq concession, unless otherwise agreed between EGAS and the Contractor members. There are certain bonuses which shall be paid by the Contractor members to EGAS under the South Disouq Concession Agreement, namely; (i) bonus of US$4 million to be paid during the issuance of the South Disouq concession and its execution by the Minister of Petroleum; (ii) US$25,000 upon the approval on each development lease; (iii) US$2 million upon the five years extension of any development lease; (iv) assignment bonus (only to third parties) equal to total liabilities if assignment is made during exploration period, 10 per cent. of the value of the assignment if assignment is made during production period, and both values if assignment is made during exploration period whilst a development lease is in place; (v) US$150,000 assignment bonus if assignment is made to a contractor member/subsidiary; (vi) US$250,000 training bonus (for EGAS employees) during each exploration period; (vii) production bonus which varies from US$1 million to US$4 million when the production reaches certain level (from 10,000 BPD to 25,000 BPD � or equivalent barrels of gas according to a specific formula) for 30 consecutive days. COPIED WITH THANKS TO PIJOE 1212.

https://www.madamasr.com/en/2018/02/06/feature/economy/export-dreams-will-zohr-gas-production-allow-egypt-to-light-europe-and-its-own-cities/amp/ Sorry to repeat this but it shows that the production side of Zohrs term are very similar to ours, using identical production brackets.

https://uk.reuters.com/article/us-mideast-investment-egypt-gas/egypts-giant-zohr-gas-field-aims-to-start-output-in-2017-minister-idUKKCN0SR1VJ20151102

Now the question to be raised is why would PW be quoted on Bloomberg at a price on which he, our Ceo, be basing his Capex, his budget and our future incomes.

https://www.bloomberg.com/news/articles/2017-11-14/eni-s-giant-gas-field-prompts-egypt-to-end-lng-imports-in-2018

The move forward onto Kelvin is interesting, and may indicate an alternative approach is now in play, if Kelvin comes in then it gives an opportunity to sink a development well into the best options for production, and with the rig contract having provision for a contingency well, also allows for one into each find, possibly allowing for more than 100mmcfd rate. The great news yesterday moves us much closer to pipeline capacity for next year, with 3D due to start soon for more targets, our next drilling campaign should bring larger reserves amplifying returns. Remember that just 73bcf would compress the pipeline, returning $100m pa for 5 years. And demand will exist for even more than that, but would require further infrastructure. Sdx's future has moved forward by great leaps in the last few weeks, with lots more to come, and what makes it so much more appealing than most other oilies will be the speed in which finds go to market, the last 23 months have been an exciting time, the next 23 will be very rewarding. Have a great weekend!

Maybe they know you will have vast sums to fritter!

Great T shirt for the investors show!

Negligent, ignorant and basically useless!

Brought to you by the same people who want to sell you driverless technology!

Now looking at 20bcf in Morocco, plus any the last well spews, which is more than the Mcap. SD is looking good for more than 200bcf already without proving up what its derisking, $30m pa coming from existing producers in Egypt, $30m in bank, with approx $15m in receivables ish, strong Poo forecast for near to mid term. How can the anal ysts justify anything below �1.50. Utter Madness.

Whilst a big well done goes out to PW, there are a few on this bb whose knowledge and humour has made the last year or more bearable, sit back and enjoy the ride, icing on the cake. Or choccy on the the biscuits as Mr B might add!

During the oil price crunch, many companies ground to a halt, many of them spent their credit limit doing the groundwork for potential fields, some will have the seismic, maybe even a test well, but then the coffers dried up. If an opportunity to grab something, maybe even a producer whose debts are too high for further development, then is that not wise? Surely its the formula we used to get here, as long as its a wise and balanced choice then Im sure it wont disrupt our progress, Im here for the long haul, and whatever it may bring. In a year we will have surplus cash for exploration and development, yes we need to keep spending to achieve our ambitions, but tunnel vision means bargains get missed. Ask anyone whose been stuck in this dog for the last 12 months.