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Legache
According to UOG ceo its temporary issue. Which i agree too.
Eni and BP investing billions in egypt recently even with dollar issue, but we make business choice to leave egypt.
Also the chinese company wouldnt have given us upfront gas payments if they didnt believe sdx would dispose egyptian asset.
Legache
When they sold parts on SD prior they put valuation of 6.1p a share to company. Now this didnt include the cash balance, receivables and West Gharib. So south disouq is worth at least current Share price in my view.
Then we have West Gharib, the dollars stuck in egypt and receivables.
All eyes will be on cash balance, yes production will be down but who cares we are getting rid of egypt asset
I think between $15m-$20m is possible. So hold on...
Treeshake
Can sell on mid price.
All im saying you buy at current price by end of dec you wont be dissapointed.
Mkt cap under 8m and they expecting close to $20m from egyptian asset disposal. Imho
"Commencement of drilling signifies an early milestone in SDX's new roadmap in Morocco, which the Company will present imminently..."
Come on Daniel Gould
It will also be nice to see separate revenue for both morocco and egypt. Also will be nice to see cash balance in both countries. I suspect egypt still has an large balance.
Legache
The buyer would have had access to the books.
Yes its not official deal but they wont pull out now. Imho
There was multiple offers if sdx wasnt confident of deal then they wouldnt have signed exclusive HOT deal. They would have carried on negotiating with whoever wanted it.
Legache
Im interested in the cash balance then we can estimate the disposal price.
Production would have surely reduced in h1 and so will capex but the buyer is already aware. The sale price has been agreed, the buyer has already seen accs. If sdx still have $10m cash then u know they will get at least $20m.
Then Current mkt cap is a joke.