Member Info for legache

well my average is way above the 45p placing level and i can't afford to participate in the open offer at the moment, so i guess this is one for a long-term horizon. let's hope it plays out as intended...

honestly, what a **** up, placing at 45p having bough shares at 78p in the market

34adsadda - why has net current assets fallen, assume its the Egypt disposal?

yeah, but that guy is a massive ******. it's why i don't post there as he lords it over the other posters and waves his willy about.

lets not even get onto his silly political views!

As I posted I got out with my **** a few months back after holding SDX for several years. However, the question is, how cheap is cheap enough?

To answer that question I tend to look at several things

1. Management. Are they competent and do i trust them?
2. Is there any prospect of either shareholder returns and or growth in FCF?

On both of these points, SDX are not investable at the moment. Hence the share price decline.

However, it may not always be thus, so i will keep a watching brief hoping for a 2-3p entry.

I fully agree.

There a few traders kicking the dog while he's down. Hoping to scalp a lower entry from these capitulation levels.

Don't agree scoring steps. I think they genuinely thought the monntera shutdown would be shorter. It would make no sense to produce statements that they genuinely believed to be incorrect or at risk of being wrong. Now, I get that and I trust McShane and Blakley. That said, their judgment has severely been called into question and i hope they learn from it.

hindsight is wonderful, isn't it!

Sorry 210 million, not 2010!

Quick aide memoir - RBL up to 2010 million dollars, but some banks have indicated they may have more capacity! Excellent!

I'm not sure i agree on point 2. The cake is simply getting bigger hence, it is diversification. I'm on the call now and Blakley just said 7500 BOPD with a 6000 average, not 5k.

Nothing unexpected there and I admire his frankness. Onwards.

these results will be poor given montera shut down but just hope there is a kicker in the results somewhere. I am high 5 figures in the red on my investment here which I incorrectly perceived to be a safe one!

Yes, it could mean 13.6 for 8 months and then 17k in th last month, but its an average, so its it could equally mean much higher to get you to a 17k average. That's why they have offered a range because O&G production is not an exact science. Either way, at current prices, which in my view will increase over the medium term, and sold at the last reading to a 22-dollar premium to Brent, that's still acceptable given a cap of just 300 million GBP.

Getting your knickers in a twist over a reduction of 3k guided against your expectations, which will happen eventually anyway, is not sensible IMO.

I've done the opposite to Marine. I have added a third to my position. The guidance is realistic and not too far off what i expected. Nod to a possible acquisition was good. There is no indication in these numbers that all the wells coming back will take a year. Montara production is guided IRO 7k and was never going to be more than 10k, so, in essence, you're selling becuase you're worried about 3k which may or may not be delivered [hence, the breadth of guidance 13.5-17].

Good luck to you Marine, but IMO you'd be mad to sell at 66p!

You'll get your 17k at the top end. It is a wide spread to guide, but does indicate everything is working as it should!

Looks like a good opportunity. Just sold a tranche of my pension to buy more here. Time will tell.

If you were really buying a million shares you wouldn't post your intentions on chatroom. Just my opinion!

My average is in the 80s and have held this for years and 1 I like management and 2 I believe in the strategy. I am not in the slightest bit worried that in due course this will be back at over a quid.

just to think i bought 10k of these just before the Montara announcement, only a few weeks back at 86p! Seems illogical we are still down here.

No but the broker is winsford capital so draw from that what you will.