Member Info for Harts

Catching up on todays activities. Very angry to see that Vonk has entered into this loan as any good flows from Brockham will just get sold into by the shares that YA will possess. Having said that the positives long term are that we have funding for Balcombe's FDP, but I was hoping Brockham's profits would pay for that further down the line.

I can only imagine Caudrilla want to get on with Balcombe and that is why Vonk has decided to issue this finance deal at the worst time possible. Those that say Brockham is a duster and thats why this deal has been done are stupid. In any business strategy you always prepare ahead and I think Caudrilla have forced Vonk's hand. I am like RA and think we need better management but if it's Vonk vs Tids I would go with Vonk as even though he over promises at least he has got us to the point of commercially testing Brockham. Hoping for enormous flows from Brockham so that YA gets as least shares as possible. Maybe that was Vonk's strategy ......

I agree I had personally written off Fortuna. I don't know why people are trying to create something out of it. It's just PI's wanting in at 40p instead of 45p so they create seeds of doubt. I'm already loaded up in the 30's so I'm happy to sit on it until Ophir's true value is reflected.

Nice to have your enthusiasm back Wolf. We’ve been waiting a long time for this moment! The proof is in the pudding!

Got calcs wrong shouldn't be £1.35 should be 61.8p. Still a pretty high average though. As I said can't see what price he got for his initial 100,000 before 2013 though.

I think Medco will go for a low ball offer of 60p to start if you can put me down please.

If you look at Booth's share purchases on lse his average share price purchase is around £1.35 if you include the purchase on 20th Aug 2013 at 306.5p. I can't see what price his initial 100,000 shares was at but his recent purchases on 13th Sept average at around 37.5p so I doubt he would be willing to let this go as cheap as 45p. That's my logic unless he was awarded some of those shares for free. What I'm trying to say is that he has self interest to not let this go cheaply such as 45p. Fingers crossed for another bidder as well as Medco then the £1 plus discussions can begin.

Haha your buy was it Wolf ;) What’s your average now then? As you would say lots of WHIZ, BANG and BOOMs
approaching.

Yes I am so I'll stay thank you very much

tsx chart*

Once we break through 0.8 CAD (47p) it should be onwards and upwards from there if not probably a retrace. That's my guesstimate looking at the tsx graph

You have no patience. The price is holding steady around the 45p with some fluctuations as that's where the market prices a first potential offer and yes POO has increased so the value of the stock without the take over is higher. Sit on your hands and wait for an official offer or just sit long term and see the value of Ophir come through. II's will be jostling for position some selling and some buying. Money moves from the impatient to the patient.

Shorts closing? Your guess is as good as mine.

Excellent action over here, long may it continue. Could be many factors, news on SD, news on BP deal or just recovering like the rest of the O&G market even though most of SDX's revenue comes from fixed gas contracts. First time in a while I've managed to predict the bottom, hope I'm not wrong and the TSX keeps motoring up (0.77 CAD as I type).

You beat me to it 0.7 CAD up we go! Leaky leaky I say here comes the rise back to fair value. Good job I loaded up around 37p!

Nice to see the market finally giving Ophir some attention! Be interesting to see how this plays out. I think we are all hoping for a decent initial offer of 60p plus and then for others to make counter offers, that would be the dream. However now there is a relatively small risk of the offer being retracted and the SP to fall back to 35-40p, but I can't see this happening. Most likely scenario is an initial offer around the 50-60p mark, but that's a complete guess I'll leave it to the big boys to discuss whats fair value in the current market.

All your points are valid I was just trying to provide some balance on the matter as with the drill PW has been very successful but not on hitting production exit rates. The other thing to remember is that the SP did reach over 70p and you have had a long time to sell at those highs.

PW shouldn't over estimate I think we can all agree on that. My belief is that we will get the approval and the delay will be a couple of months for SD but yes it is concerning that it still hasn't been signed. Unfortunately belief isn't backed up with facts but why would Egypt want to delay SD? That's what we we should be asking ourselves or is it just slow legal processes or issues in relation to receiving the payments that SDX are owed.

As many have said Jan - May are normally SDX's best months I hope this is the bottom as my average is around 38p. I can't see a drop to the 20's but it could happen if a more permanent bear market appears.

Small Holding

I understand your concerns and these LTI's may have be given out too easily, but to say that this year hasn't been successful is unfair. Yes Paul has missed his EOY target production but that was mainly due to circumstances out of his control regarding SD. In addition to that the share price is also completely out of his control, we know that the SP has been manipulated with SP dips even after a very successful drilling campaign. What more can Paul do than constantly provide successful drills and do his best to move exploration into production. Other companies take years to get from exploration to production and yet here we have good margins and fast hook ups to production. SD was delayed by Egyptian processes. What does it matter if it comes online 3 months down the line? The current SP is due to ii's selling their position but others are also buying in. It doesn't take much to look at the SP of 35p and the low market cap to realise this company is hugely undervalued. They have been funding their drilling with cash that they have generated from production no placings etc.

I personally think SDX has achieved a great deal with the drill in 2018 and when these achievements get converted into producing assets the balance sheet will drive up the SP or we will buy more producing assets like Circle or we will get taken out at an SP much higher than it currently is.

Balcombe was 13:06 for oil to surface/start of flow test and 8:00am for flow test results so one still may drop today with oil to surface.

Great to see they are working on a Sunday which points towards oil to surface! Hopefully a big gap up tomorrow after an RNS!

The trade at 8.38am is a top up from me.

Thanks to others for the info that the Miton fund has been unloading. Should be finished fairly soon and the other funds have been increasing their position through November. Can't believe we are back at 40p, current production gives us cash and when SD comes online this will boost it massively. Just a question of when and not if. Good luck all.

Will it flow, how much and how long for? Can’t wait to find out the answers before Christmas. Anything above 500 bopd sustainably makes this seriously undervalued. Odds are in our favour with the amount of Kimmeridge we are perforating and that it was drilled specifically for Kimmeridge production. Good luck all ??