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Half-yearly reports
AIM Rule 18 requires that AIM companies prepare half-yearly reports within three months of the period end.
The information contained in a half-yearly report must include at least a balance sheet, an income statement, a cash flow statement and must contain comparative figures for each of these. For the income statement and cash flow statement these comparatives are required to be for the corresponding period in the preceding financial year, while for the balance sheet they must be either as at the corresponding date in the preceding financial year or as at the last balance sheet date notified. Additionally the half-yearly report must be presented and prepared in a form consistent with that which will be adopted in the AIM company’s annual accounts having regard to the accounting standards applicable to such annual accounts.
After the ukrainian war foreign bond holdera began to take their money out of egypt its caused a bit of instability. Saudis, Qataris have helped and so have the imf.
But we have made the decision to leave egypt and concentrate in morocco.
Its a large operator who will buy our egypt asset for significant funds.
Earlofaim you beginning to believe.
Its rather silly, the sp crashed from over 8p due to egypt not allowing dollars to leave country for all businesses and citizens.
Bp and eni have just signed new deal with egypt, sdx have signed Heads of Term to sell asset to large operator and will concentrate in morocco.
Cheap
Legache
Wait for the strategy news it will be their and the h1 results.
Like i said if they have over $5m in bank in egypt im confident they will get $15m-$20M for asset. The mkt havent got their marbles together. They need to be spoonfed.
Legache
They would look like huge idiots if they informed mkt on new strategy and ksiri 21 found no gas.
I dont think the chinese would have given the upfront payment for gas then.
Todays news is positive this means that the larger payment will likely happen.
We all know money is a bit tight as its all in egypt. But im confident they will get good deal for egypt asset.
Legache
The upfront gas payment from chinese would have been subject to them finding gas at ksiri 21, now that can go ahead as criteria matched.
So the new strategy can be announced.
More news coming imminently. Imho
"In 2023, it is anticipated that workover operations will be performed on SD-3X and SD-4X wells, recompleting the wells to shallower reservoirs to maximise recovery, and on IY-2 to restart production from the existing reservoir."
So lets seebif these were done? Not much about Morocco also.
Well your british pound is worth 17p less than two years ago.. so what..
Like i said south disouq was valued at 6.1p a share when they sold 33% so the remaining is valued at 4p a share. Add west gharib asset and cash balance it so obvious they will generate around $15m-$20m from disposal..
Then they also have moroccan asset with decent infrastructure, the current price is a joke. $7.67m mkt cap..
Jay needs to get his finger out..
Lets wait for results.
Like i said in end dec 22 they had $10.6m cash. Lets see how much they got now.
Mkt cap 7.5m which is absolutely silly.
There are companies with no production worth 20m.
This is way oversold..
I mean the banks will allow dollars to be taken out of egypt.
Theres a shortage of dollars in egypt at mo and egypt govt has stopped dollars leaving country.
Egypt is very important to israel security, the USA will never let it fail hence imf loans.
Maybe its a delay tactic if the situation has not resolved by christmas sdx will dispose asset. Who knows.
But Aleph and Chinese have been willing to step up presumably confident of the deal..