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Yes, reading between the lines I guess that they were offered the contract extension at a price that they deemed unacceptably low in the current environment (nevermind where gas prices may be in 5 years!). Reserves are not infinite. Hopefully customer comes back to the table when no one else will supply them gas so cheaply as they want, or other customers will come to SDX with better prices.
Or could just be the market not appreciating the $6m revenue hit, albeit provisional/temporary. But I agree the disposal and the more realistic mcap value it indicates for South Disouq (nevermind SDX as a whole) is good news, this should rise substantially from here IMHO, as brokers and market commentators chip in as the day/week progresses. Happy to be holding anyway.
Interesting to see what happens now, assuming no RNS, as any PI who bought in the 3's may now be tempted to sell and make a quick buck on the back of this rise (good luck to 'em, wish I was in that position!) Conversely today's rise may intrigue new buyers and we may see continued positive movement... Oh, the excitement... ;-)
Need quite a few more days like this to get anywhere near my average cost, but not complaining... Could just be small volume buying interest meeting illiquidity of shares, but perhaps, perhaps somee good news finally coming - west med, matanda, arbitration... - about time anyway!
Wish you all the best Agadem. This board is almost unique in the level of proper information provided by some of its members, you being one of the main guys. I shall certainly contribute, as I might not still have been invested here, now awaiting something of a payday hopefully, without your analysis to educate and reassure me. And it is a great charity in any case! Hope Santa Savannah brings you a little festive joy at least, have a good Christmas.
Yes L2 suddenly looking a bit healthier
..and strong hints of more good news to come... I have dipped in and out of SGZ in recent months, but think I may hold on for a little while now, things are starting to look good across the board. Nice one Phil!
They will need a fair few bon than would have been the case a couple of years ago, Exxon have been trying to exit Chad for a while... Not an area of operation for the faint-hearted but SAVE already performing well in Niger and Nigeria....
3CB, not always on the same page as you but agree your strategy. luckily I was (very unusually) in the right place at the right time to sell some at 8 earlier, that is still way below my average but happy to take some cash off the table given where we have been for a while now. I do still plenty of shares and confidence that the long term future is brighter here, but I have no idea where this sudden interest and spike came from, never seen anything like it on such little news...
Yes, ENEO deal would be the real rocket here...
No, I am in the stonking losses club unfortunately. You can check my posting history. Just think that the future is brighter with recent developments.
Because the plaster has been ripped off with CHL and good news on LA108 clean-up and test.
Finally some progress on 108...
My understanding of call answer to this precise question was that they need more reserves just to keep existing customers supplied/happy as some have 5-10 year deals, so they are not "drilling just to add reserves"... but obviously they aren't going to turn away new customers!