Member Info for legache

I would be surprised if they were to ask for more money as the last facility was 3.8 million USD, this one is $6 million USD and the 2023 G&A in total was just 2.1 million USD, down from $6.5 the year before. Hence, they must be planning some serious capex if they wanted to increase the loan and to be fair, they would have to lay this out to shareholders before they seek our agreement to borrow against it. At a rate of 20% interest, it will have to be some prospect...

@sharksaber - i take the point about the future returns, but there is a point where cash in the pocket is worth more than returns in the future. What level is it? £1.75, £2.00... £3? There is a number there and the challenge that any takeover will have is to pitch that number at the appropriate level to deliver value for themselves, but also persuade enough holders to sell up.

The intriguing thing about this RNS, is the company has asked for an extension and change to the terms. I can only imagine there must be something else going on, which management believes requires a change to the terms.

Could this mean they are close to SD completion and won't need to enter into the loan. Hence no need for vote.

Possibly.

I was more interested in the 47BCF resource! For years the critics have moaned that we just drill toddlers in Morrocco.

I also love the idea of tying in existing wells to our pipeline... low risk, quick revenue. Exactly what the doctor ordered!

What a great update!

Seems like no big deal to me, supplier will have insurances to cover the downtime.

Who'd have thought, SQZ shareholders not fans of Ed Miliband!

Can you expand on this? What happens in 5 days?

My analysis, and i guess the directors agree, which is why they are divesting, is Egypt has been a disaster from start to finish. "Due to issues in relation to currency controls and ongoing devaluations of the Egyptian Pound"... I think the current team will be looking very carefully at the economics in Morrocco. Don't forget this management team have reduced G and A significantly, they have more than halved OPEX. Lets give some credit to these guys, they have taken the bull by the horns.

FD recently said Morrocco was profitable. I guess that's a question for the AGM.

A lot depends on the sale price for the gas, and the pipeline will certainly help with that as it can carry other firms' gas, not just their own. A slice of a bigger pie. It is SDX's jewel in the crown if you will.

Me too 34, and I have been a shareholder too.

You make a fair point about net equity and there are reasons for this [it is not failure with the drill bit, as suggested]

The reasons have been associated with the problems in Eygpt [its government and currency] rather than Morrocco.

Not sure about that! Have a look in the accounts and check the asset value before making comments like that!

Risk reward 34, SDXs track record with the drill bit is very good.

This, along with no changes in major holder positions implies that most of these trades are retail investors. IMO

You haven't been watching the book very well then, Barhut. The average trade value is in 3 figures over the last month or two!

Sp has just been dragged down by small amounts of retail selling. No need to panic.

I can categorically say that Ned and I are different people.

I may buy some more, but post-AGM.

Sorry i disagree, the facts are they are in [to quote the company] "advanced negotiations". They have clearly stated they will divest their Egyptian Assets. Its when not if.

Guys. These posts are almost laughable. No one is defaulting on anything. This loan intended as a bridge until SD completes, then it's paid off. Simple. Calm down!