Member Info for legache

Only kidding Ned!

Neds wife isn't going on that cruise!

19-Sep-23 14:32:54 4.08 231,004 Buy* 4.00 4.10 9,425 O

:-)

Perhaps...

Of course, but i just don't know why we'd need it, as logically any prepayment terms will be worse than delf funded. Obviously!

What i don't get is why they need upfront payments if this Egypt deal is so good.... surely we'll be awash with cash.

I admire your fortitude and resilience, Ned.

...because they obviously thought it was cheap. that explains why a lot of these city spivs don't know their **** from their elbow when it comes to oil and gas. i guess they must be currently sitting an a multi-million-pound loss. makes ned's losses look like pocket change!

There's a quite a lot of bulls on this LSE page, I empathize as they must be hurting. God knows, I made an enormous loss, but cut my losses at a appropriate time. I just think calling this a no brainer is bonkers. There are some huge risks and these are never properly acknowledged. Don't get wrong, I am now long again, but it's a tiny tranche that I can offord to lose, given the super high risk. Let's have sensible debates chaps.

yes. but 1. reid walked the plank for talking *******s for years. and 2. high margin is only high margin if you benefit from the margin. see where i'm going with that...

Sorry I meant, at a lower price than the 10p you were quoting. I fully agree, it would take something quite catastrophic to get a cap too much lower than 4p. I only hold a small amount, as it's not beyond the realms of possibility that the deal fails. Then we're back to 3.5p imo.

Hope you're right. I think there will be an opportunity to buy once this information is known at a lower price though.

The receivables are nil value. We can't get it out. Hence the sale.

You're smoking something if you think this will, or could 5 bag in short order.

The disposed of 33% of SD for 5.5 million USD in 2021. That was considered a very low price at the time but that would read access to SD being worth ~11 million USD, add in WG at, say, 6 million USD and that's 17 million USD, so that's 14 million GBP.

Does anyone know if the director has bought and SDX shares?

It shows nil in the 22 accounts.

The directors who held office at the end of the financial year had the

following interests in the ordinary shares of the Company according to the

register of directors’ interests:

Interest

Interest at at date of

Director Class of share end of year appointment

Tim Linacre Ordinary 160,000 50,000

Krzysztof Zielicki Ordinary - -

Jay Bhattacherjee Ordinary - -

No wonder investors are so peeved, they placed at 30p to acquire those assets. Let's hope they get fair value back!

Maestro, If capex is right down, then the market will like the results. The problem was always capex with sdx.

Ned, Please don't misconstrue my comments as "moaning". I'm not moaning. I saved myself a great deal of heartache by not holding all the way down to 4p and the reasons I made those choices, as outlined below are valid.

And i do intend to add to my position but not until i can get a clearer handle on what the strategy is, what the production is, and what the offer for Egypt is!

Hate to play the old bear game, Maestro, but there are several reasons why this share price is as it is... First Eygpt is just a HOT's, it may not proceed, it may also not proceed within the stated timescales. Production numbers have not been made public, hence, there is high uncertainty. Jay B is not respected by investors and has a terrible track record, take a look at Aminex for example. Morrocco production has the age old high capex costs and never seems to make anyone any money except for SDX staff salaries. We can't get the cash out of Egpyt and their currency is worth less than a bag of Skips...

So add all that together and i'll not throw too much at this. There is much to be done. As i mentioned, i am in with a 200k tranche when during the P Welch time it was a significantly larger holding, hence my concerns.

All the best.

In what respect would you say i am wrong about Malcom Graham Wood?

Go back to what I said, and I said he was 1. Talking this up at 50p [as it would seem he is now] and 2. He is paid by the businesses he covers [which was outed a few years back].

Not sure what is wrong with that.

Maybe Ned, you have been too positive, for years. I think the share price corresponds with my view.