Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
It depends when you bought in. I have been in for a few years and don't see any chance of breaking even, nevermind making a profit on my own investment BUT there is certainly a strong case to be made for the SP recovering to a multiple of today's level, and rather quickly, once Egypt is finalized, nevermind any further positives from Morocco. I mean maybe 2x or 3x in the short term, not 10x, but I will take that!
Reported elsewhere today that the buyer of both SDX' Egypt entities may perhaps be "state-owned Russian firm Zarubezhneft... On 26 September 2023, Zarubezhneft was pre-awarded the North El Khatatba block in the EGAS International Bid Round 2022, which surrounds SDX's South Disouq assets." Just a rumour, and kinda doesn't matter, but there you go.
These sales may be connected with coming year end, and Canadian tax on assets on 31 Dec, I have heard on other forums of dual-listed oilies e.g. TXP that many Canadians will get out of their holdings for the month of December to escape that liability, and jump back in on January 1st. Or in the case of these big guys, are they selling a chunk to cover the year end tax liability? The timing (and the fact it is two separate holders) seems to back this up. Presumably if they had major concerns over SDX they would have sold more!? But if anyone has a better explanation, happy to hear it!
The last 2500 buy is mine, unfortunately I don't have more funds available or I would have bought more, IMHO it's a no-brainer for the medium term. Though (don't shoot the messenger) I do agree with some on here that the news was already priced in to some degree, hence the lack of upward movement this week. But again, happy to top up on the small downward movement and wait for the reward a bit later.
Now cleared, seemingly against a couple of new, lower sell offers that were presumably input not knowing there was a 4.0 offer out there, awaiting trade details to be confirmed, as the MMs did not sell their advertised chunks. Some weird behaviour going on....
If someone knew something bad they would surely have sold before the SP dropped again in the few days before the RNS!?
I think there has simply been insufficient interest in this share to either sell or buy significant quantities, until yesterday...