Member Info for legache

On what basis?

The reason the sale price is not being pubically disclosed is that when you agree on a HoTs it will be contingent on the buyer's due diligence process. It might well go up or down.... but most likely down.

Even if SDX averaged 78 [which does seem high for H1], they will average more in H2, hence I don't think they'll be making a loss.

The news we have is that the deal id "firmly" on track. They wouldn't say this unless it was. Topped up yesterday.

Oil price was poor in H1. They won't make such a loss in H2. You can't just drag those numbers out. In morrocco the also have this well which will modestly boost productivity. They have enough cash to see them through until H1 2024 at which time the cash will be in from Egypt. The key issue for shareholders is how is that cash going to be put to work. Drilling safe tiddlers in morrocco doesn't seem cost effective unless much higher prices are negotiable... still a great many questions - I wonder if they'll do a analysts call we could join?

They do need to get their skates on

I guess getting government approval is not simply a quick email. They did say by the end of the year, so could happen imminently.

The market doesn't like these interim 4/3.6...

"I am pleased to say that the process remains firmly on track"

This does give me confidence the transaction will be completed and on time. Also, the government hurdle must have been cleared.

It's a slightly lower cash figure than I was estimating at 8 million, but no the less, a good chunk. I am looking in detail at these numbers and think that a little belt tightening around the edges might not go amiss. Quarter of a million in professional service fees is outrageous.

I fully agree and take your point. My query is about detail over terms, basically, there is none!

You might be correct [that it is the plan for the next campaign] but the fact we're guessing is yet another thing the company could disclose to us. Literally we are joining up huge dots all over the place.

Does anyone know what the terms of the "prepayment" are? Whats the rate being charged and what contingencies are in place for failure? It's all a bit murky.

If it was contingent, they'd have probably disclosed this. Interesting thing is they said they were looking at back to back drills to save money, but then the rig has been sent off hire...

But very welcome

Well, we know there are 11 wells and no more have been bought online since the start of the year, hence, lower capex. It's a fair inference from the rns dated 01/03

Only guess from last year's production numbers and the fact they have said capex is lower this year...

Should have more than 5 million unless there has been unknown capex.

So what? so it's worth 20% less than this time last year...

The pound figure is irrelevant really, but is pretty well pegged against the dollar over the last year.

Thats a fact!

They have full exposure to the Egyptian pound, so looking at the exchange rate it dropped circa 20% .4 to .32 so i would guess that 10.6 million is about 8.5 million now.

The trouble is chaps, we keep telling ourselves we are "right", Egypt is worth xx, but the market is clearly not in agreement.

3.7/8