Member Info for Doubler

I have not posted on here for about 6 month but should remind you:. Kraken cannot produce 50ka day due to water and poor design of the FPSO. Enquest are ......not the best.

Well maybe the SP reflects my comment.

Probably because few would understand and to correct posts, which would be boring, adds little to the discussion. If I see something completely wrong I will correct. By not correcting I would say I was giving!

Crude, I have been in drilling operations / management for 37 years if you have any questions. Been reading some of the "technical" posts with a smile.

Yes we are punching them out and putting them on production quick: love it. Offshore wells long lead, high cost and slow to production. My profession!

This is a shake out. Most O & G getting hammered due to the Saudi / USA spat. I probably hold more than most and it is painful in the short term. I am here for the medium and long term so just take it on the chin. SDX will bring us returns, the figures speak for themselves. The oil industry is cyclical and coming out a slump so for the next 3+ years will be rising. Waiting for the 8000+ BOPDE announcement soon: that's a lot of cash flow!

I disagree from what I have since learned. At the time thought so but I think (know) we got out in time. Malky not really knowing all the facts.

I rode out the Ithaca ride. Went down to 20p then sold for £1.20 soon after. Not for the faint hearted. SDX is a better company IMO so just need to be patient, and faithful.

All oil stocks down today some by over 7%. This is not an SDX thing.

The time to drill a well is similar to “how long is a piece of string”! Been in drilling management for 37 years. Timing is just a guess. On the BP deal: better no deal than a bad deal. I have now stopped looking for my Verbier Chalet!

Very good points. The worst than can happen is no deal and we are still in great shape. I am in O & G forever and was recommended PW by a friend. Very confident here.

My post was not about the quantity or alleged quantity it was about the spud.

Dont hang your hat on the spud raising SP. SDX spudded many wells, made discoveries, put on production and the SP dropped.

PW would not be going for this unless it was a bargain. It is a buyers market also as BP want to get into bigger prizes and divest "little" assets like this. Also BP cannot run smaller assets efficiently, that is a well know fact. They struggle with bigger assets also!

SDX - Great Q2 and H1 2018 results

▪ Netback/gross profit of $19.3MM increased by US$6.3MM (48%) over 2017
▪ Cash generated from operations increased by $9.2MM (83%) over 2017
▪ Current entitlement production up by 1,210 boepd (37%) to 4,444 boepd
▪ 20 of 23 (87%) wells drilled were successful!

Well Funded
▪ US$36.3 MM of Working Capital (US$ 25.2 MM in Cash), No debt
▪ Generating +/-$3.5MM of cash flow/month in H1 2018
▪ Entered into credit facility with EBRD in Morocco for US$10MM

Looking Ahead
▪ Currently running 3 drilling rigs and will decrease to none during Q3 2018

▪ NW Gemsa –
▪ 1-2 workovers (maintenance)
▪ Maintain guidance @ 4,400 boepd

▪ Meseda –
▪ 1 infill well MSD-15 – Meseda
▪ Maintain guidance @ 3,800 boepd

▪ South Disouq
▪ Drilling and testing now completed
▪ Development activity underway – targeting 60 MMscfd initial rate
▪ Sign GSA, Development Lease, JV structure
▪ Acquisition of 170 km2 of 3D seismic, commence Q4 2018

▪ Morocco
▪ Production: 8-10 MMscfd
▪ 3 new customers acquired
▪ Complete 240 km2 of 3D seismic in Gharb Centre

Exit rate of 2018 anticipated +/- 8000 boepd 2X entry rate

Richard, I am with you on that. You know the rise is coming, just not when. Happy to wait. PI's jumping ship on news will of course drop the SP.

Did they borrow the money or just arrange the facility? The later I believe.

I am waiting to. Should I go for it and push it over 60p or wait?

I like the fact it was down dip so sweeter targets updip for future drilling.

Quite a large spread today: nobody selling then?