Member Info for daft63

Big buy 3m+

Its nice to see such openness, many thanks to you, it helps assure us all of our own positions here.

Worth getting any extra to make a TR1.??? The boost of another holding Rns could make the pop.

The 09.44 buy is me doubling up, something is on the cards here.

Cheers. Good feeling here.

Bought 2 batches at 11.10 ish, the 107k is showing but my 2nd batch of 186k still missing. The truth is out there!

Well I'm out, its time for me to change ships and move on. Nearly 4 years, made some but not as much as I could of. The last rns didnt work for me, the costs of drilling in Morocco appear 50% higher than previous, and the talk of relinquishing the southern area of SD was too much to carry on. This was a ride, and I wish all the best to you all with your future investments, and more so your good health. Mr B and Shakey - Thanks and see you on the next ride. Daft.

Shakey, its not very accurate at all. We are producing from 4 wells in 2 finds, and whilst the export pipe has capacity for approx 140mmcfd, our CPF is rated at 60mmcfd. In Morocco the RNS offers guidance of 6.7 -6.9 mmcfd whilst the article says 9-11mmcfd.

Yeah I get that, while 5 from 7 is a good strike rate, the 2 -2.5 bcf from 5 hits is poor when compared to previous 'hits' of similar wells, where 1-2bcf per well was considered production worthy. Had the 5 hits given 5-8 bcf I would have felt more confident going forward. Maybe its just me but I was hoping for better.

Not the best rns Ive ever read, Morocco results are poor so far with an even capex/reward. Hopefully the next drills do better, if not then Sdx could face problems down the road, could be bumpy few months ahead!!

Gap filling??

Looking back I think numerous factors led to the decline, the murky BP deal, the delist, and PW debacle all fed into a loss of faith and understanding. Of the BP deal, without any facts, I conclude that PW sold BP a false tale, which as sellers they were happy to accept, but it was crushed by the Egyptian Authorities, who saw through it. In the aftermath, our main holder pushed for a clearout, and an end to delusional dream plans and a concentrated focus on assets already held, which if managed with prudence offer great returns. We are indeed fortunate to have had in place a CFO who showed belief in that theory, and has shown his skills in managing these projects, to achieve targets on time and on budget. This was no easy task because money was tight, but with a little juggle act it seems we are coming through.

As the mist clears, it remains important to not concentrate too much on any one set of figures, as they do not portray the complete picture, but rather to look forth to reducing Capex and steady fixed incomes backed by proven resources to ensure longevity in our production ability. As we slowly move forward and away from the riskier times, its easy to see a well managed development of our assets suited to our chosen scheduling and budget, whilst offering a potential return to those who showed faith in MR.

Yes, thats the way I see it, we should get the small less risky drills out of the way then they move onto the unknown plays.
Doubler , Predator are next in line for drilling rig, once we complete.

I believe that the LM play was last in line, and if no go on 1st attempt then a return to basics, I may be wrong.... but with an update due soon we will be informed, also due to spud SD in next few weeks so news flow should improve right through to Easter.

Harts, not so sure they have got that far yet, rig is due to be released mid march,according to predator oil post below. https://www.predatoroilandgas.com/

Each rise moves us further up the road from the so called cheap takeover that some kept touting.

It will very interesting to watch how the MMs manage this next rise, how many shares will it take to make the leap up, and with numerous news events over the next few weeks, will SDX achieve a fair market value.

very strange, shows up on google too.

The February drills are 2 KES targets, Salah and Sobhi, prospects aiming at approx 105bcf, or $70m net at the tap.

All the best. My calcs value each bcf at SD at $688k net to SDX, makes it easy to value future finds.

Used 2.55/ mcf as opex is 0.3 per.