GreenRoc Accelerates their World Class Project to Production as Early as 2028. Watch the full video here.
This should have been completed by now its a shallow well usually drilled within 10 days. Its been 18 days now hopefully next week also..
Sdx should have released h1 results by now, uog managed to release them in july and they too havin similar issues in egypt.
Egypt gas price is still $2.85. Most of our revenue comes from SD. Moroccan price will ve same price for h1 as 2022.
UOG in egypt had avg oil price for h1 2023 at $78 we had avg oil price of $76.61 in 2022. So not much difference in prices.
We expect revenue decline and reduction in production but with reduced capex sdx should still be cf positive.
Legache
Here is the rns.
https://www.lse.co.uk/rns/SDX/alternative-energy-projects-s6i9jbqdyh9g8zl.html
At the end of dec 2022, sdx had 10m in cash and 5m owed to Ebrd bank, they took 2m from the convertible loan to pay part of the ebrd credit facility as they couldnt get money out of egypt.
All eyes on the results how much gas did they generate in egypt.
Central Bank of Egypt have been restricted dollar transfers out of country and with sdx admitting most of their growth is funded through assets it egypt one can assume they will have dollar pile in egypt considering no new wells were drilled in h1 2023.
Once the mkt realises this will surge. Its common sense.
Not really irrelevant, if say they have $5m stuck in egypt bank and also have $17m in receivable and having production/infrastructure then you can imagine the buy price will be significantly higher.
Need to see those accs..
Because of the dollar issue and they will not be get full conversion rate from egyptian pound.
Also no new wells in egypt so the production would have declined. Once mkt knows the company can stand on its feet and they will get decent wedge from egyptian asset this will surge.
This fell from last results from high of over 8p due to the egyptian dollar issue and not be able to remove funds from their hence having to raise funds. They have manage to secure funds via aleph and get upfront payment from DMX. I expect a rise.