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Exactly last year they produced around 13kbopd, q1 2024 they produced 17kbopd. So already massive improvement. Adding 70m to mkt cap will add 50% to share price.
They are doing ok, akatara will be up in around 8 weeks.
Legache
If SD sale was gonna happen within the month they wouldnt have extended drawdown period for additional meagre $700k. Remember interest on the $3.5m is 20%..
Maybe they could have mentioned the interest rate on the loan note again.
All the money faffed away from WG already now SD will take another year and that would be spent too imho.
Look at june 23 accounts and dec 23 finals acc, explain how cash balance reduced by 3m?
The whole aim was to dispose egyptian asset as one and get shareholder approval. This hasnt happened.
All the money from WG has been spent. Imho
SD disposal looks like it will take time, if they spend another 1 year trying to sell that then they would receive less cash. As most cash would be spent on admin fees etc.
Very dissapointing Sdx so far..
Why the need to drill more wells until the complete sale not done?
The current cash received from WG has already been spent inc admin expenses.
Very dissapointng on top we paying $1.4m in liabilities.
1.4m of that is going to tax liabilities.
So they will get 5.2m dollars, 2m from there to pay for current drill and around 700k of interest to aleph for the year.
Why is sd taking so long?
Tom we have 540m shares now.
Point kalan was makin that with revenue of $425m, jse sp was 80p end of 2022 and that equated to £360m mkt cap.
Now revenue expected to be over $600m and with the new shares getting back to £360m mkt cap will put sp close to 60p.
Around 450m shares.. That would have equated to an mkt cap c.£360m.
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