Member Info for legache

That is about 12p per share give or take. I haven't got the numbers to hand, but I would hazard a guess the asset value far exceeds that. I mean, we're looking at 10 million just for half of the Egypt assets. I've no experience in M&A so I should probably keep my mouth shut, but that seems cheap.

23.5p Jeez!

They would have to announce such, if true...

Ned - of course but only if management decide to present the option to shareholders. They would have to be willing to play ball...

Nah, new management have no incentive to sell everything, they want their options at 50p!

Also, the delay is surely down to stuff going on in Egypt. If their civil service is like ours they're all working from home watching daytime tv.

Cube - it would explain a lot. The deal is conditional on state-owned assets being flogged off as well...

https://english.ahram.org.eg/NewsContent/3/12/517148/Business/Economy/Goldman-Sachs-expects-EgyptIMF-financial-deal-to-r.aspx

Btw loan rate is 15% not "close to 20%".

As far as we know it has not been drawn apart from te initial 2 million back in July.

Why would SDX need the loan if they're about to get ~5-7m?

I voted against the deal, so lets not just make out it was Aelph. It was a crap deal relative to NAV. I still maintain that. I know at least one other large PI who also voted against and shares my view. So lets not pretend that there is some Orwellian deal going on where Aelph take us private. There is not.

Vis-a-vis a year ago, many would argue, assuming the Egypt deal fully tranacts, then we are in a better deal. Expect the SD deal to add circa 7p per share alone. Why would any holder be looking for a 6p takeout.

Management is incentivized all the way up to 50p and 100 million cap. Why would they sell for 6p!

You're simply stirring I am afraid.

Shareholders rejected 11p, so 6p hardly going to wash.

We know that production will decline, but certainly not by massive amounts. It's not something that's particularly worrying me. If we are spending less on cap ex, at this point, that's preferable.

6 grand is still better than not having 6 grand!

What do you think cash will look like June 2024, not that far off. Probably more than 6 million!

They had 6 thousand dollars?

Of course, when its been received, IF it gets received.

More cash than cap? I think you have the wrong board!

It is, but every dog will have its day and if all is ging to plan, ours should be soon!

Yes, that's literally all they have to do, no more disasters and we should see strong growth from here.

A couple of small sales by twitchy PIS and the price drops 9%. Only on AIM!

If we read the recent update i would expect the following news soon, which if as indicated previously, would boost the share price...

Morocco - KSR-21 well update - The KSR-21 well, which was successfully drilled and tested in Q4 2023, has now been tied into existing infrastructure and will begin producing as soon as the expected government approvals are received, which are envisaged shortly. The Company will update shareholders as soon as production from this well has commenced.

Egypt - West Garb - the final closing date for the sale of these assets is now expected in the second half of January 2024 and confirmation of the $3.8 million payment which was meant to be paid "immediately".

Egypt - Price and timescale for the divestment of South Disouq, which has terms already "largely agreed".

Plus - Some news on next steps on the new strategy.

Assuming the divestments go as planned [and we have no reason to think they won't] there is no way the share price will be 4p this time next year.

Given the new ceo share price-related options, unlikely.

Of course, they don't really need them anyway.