Member Info for maestro1

Its on £20k worth, probably an daytrader hoping for the deal to happen but it hasnt happened yet.

They still expect to sell egypt asset by month end.

My guess.

At the end of june sdx has $6.7m cash in egypt.

They had $18m receivables in egypt.

Last year they sold 1/3 of their 55% interest for $5.5m. So remaining will be worth around $11m but they will get less.

They own 50% WI in West Gharib. Thats worth at least $5m.

So do the maths, 50% of the total ther is $18m. But i think they should get $15m..

Lets seen..

Remember this

"It is envisaged that the Disposal, if completed, would constitute a fundamental change of business pursuant to AIM Rule 15 - the consideration, as currently calculated in the Heads of Terms, will significantly exceed the market cap Consideration Test threshold. The Disposal would therefore also require the consent of SDX shareholders being given in a general meeting. Upon signing a sale and purchase agreement, the Company will issue a further announcement and publish a circular containing details of the Disposal and convene a general meeting."

I think the disposal is near, looking between £10m-£12m for the disposal. Sdx will likely let the buyer keep the cash in egypt and receivables. Finally we can get closure from egypt.

I can assure you once it lands we will get alot of daytraders. We may even touch 10p on the day..

I dont think they will, they will still get over $11 per mcf.

I tell you what will be nice, if the egyptian sale is announced. Shortly after we get the offtake deal sorted with citic.

"Additional HoT for a larger prepayment transaction to be agreed and planned to be drawn down by early 2024".

This agreement will be close now. One would assume.

"...definitive legal documentation"

Im assuming documents would have been sent out and now the legals are going through em.

The strategy rns could only have been issued now if the deal would go through. Would look like idiots if it didnt.

Very interested to what they get, granted egypt is not the best place to invest so will be discount how much?

"Financing Strategy

The successful execution of the Company's Corporate strategy in the short and medium-term is contingent on the effective divestment of SDX's Egyptian assets and executing on the management's funding strategy. The Board remains confident that it is on track for the Egyptian sale as per the Company's earlier guidance and further announcements will be made once definitive legal documentation has been signed to effect the sale." Rns today

Hopefully $15m. Imho on target to complete by end of year.

Well clearly the chinese need gas, they now have 3 factories in kenitra. They helped with upfront payments in september for q4 gas.

I think a bigger offtake will be signed very soon.

Once egypt asset is sold, can see it 10p a share then maube start moving up once wells start to get drilled. Interesting 6 months.

Still maintain they should get £12m, with that they can bring 6 wells into production easy. But i think citic will contribute to wells.

East bagger within a month..

Imho

Without the go ahead of the egyptian disposal they couldnt have issued this strategy.

Lets see, the disposal is very soon..

Looks like the sale new is soon too.

Sdx owned pipeline capacity is 25mmcfd, so looks great they will get more gas from spain.

Friday the volume was over 5m, highest since the announcement of the HOT.

I see a rally coming, we may get decent price for egypt asset.

Now why would they be interested in little sdx? :)

I think these gas facilities are the reason why some are interested in sdx. The gas processing unit can take upto 60mmcfd, im sure this could be increased. Sdx gross production is only around 30mmcfd.

So whoever buys its can put their gas through the facilities.

https://egyptoil-gas.com/news/petro-disouq-to-increase-natural-gas-supply-to-national-grid/

Its quite clear the buyer will get discounted sale but sdx has to get out. Just too small to do anything..

Me think we will know this coming week, just a guess.

Name the large international buyer.

34adsaddsa

"The Company owns a 50% equity interest in Brentford Oil Tools LLC (“Brentford”), an oilfield services business incorporated in Egypt, over which it exercises joint control."

When was this bought and how have you valued it at $3.5m?

Reserves may have come down but SD still have decent exploration targets. With the prospective buyer already having interest in egypt i wont be surprised if they use the infrastructure for their own reserves.

Of course we wont get all the receivables, but $15m for everything looks excellent deal for the buyer.

In morocco, Gould has said the gas offtaker will pay a larger upfront payment for the gas this will leave more cash for other projects.

I think the new management will do ok.

I think sdx will totally leave egypt. Leave nothing behind.

We have to remember the sp collapsed from over 8p when company announced they were having currency issues in egypt and as a result were finding it difficult to cover working capital for morocco.

Once this burden with egypt is sorted which i believe is very soon i see us moving higher. Once we find out the sale figure sdx sp will rerate. Im expecting £10m-£12M for the disposal.

With sdx keeping Moroccan asset, 10p a share will be fair valuation short term.

I think we will hear something next week. :fingerscrossed

Trade and receivables is $18m..

I think at least $15m will be offered for egypt asset.

Sdx sold 1/3 of their 55% working interest in SD for $5.5m in 2022.

So 2/3 of SD will be valued at $11m

They have 50% WI in West Gharib lets say $5m

They have $6.5m cash stuck in Egypt

Then they have receivable in egypt too $10m

So obviously there are issues in egypt so getting $15m for all that is a real possibility.. Thoughts?

Legache

At the time of paul welch era two stocks sqz and sdx, both were similar price.

I chose sdx, sqz was way more successful.

Anyway sdx get out of egypt, i wonder why the large international buyer is taking their time. Its loose change for them one would assume. It will be in the region of £8m-£10m.

Fresh start we can start again.

Good buying today.

Its an estimation.