Member Info for maestro1

Littlened £8m is not significantly higher than £6m.

Its at least £12m.imho

Today a trader sold around £15k worth of trades and the sp fell 5% as Sdx have not issued interims in timely manner.

"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.

Where have they said capex is lower.

We are assuming it is as we havent heard of any workovers or drills in egypt so far this year.

Are you aware of production and capex, the management have told us nothing for the last 9 months.

Like i said $5m plus im confident they get good price for egypt asset.

Legache

Lets see what they been upto in the first half of year.

Nothing has been released. Still have $5m plus i will be happy. That means webwill likely get $15m-$20m for the sale of egypt asset.

Oh yea....

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..

Im prepares to hold for a quarter i think the sale will happen sooner.

Remember last set of results the sp fell from over 8p due the dollar issue in egypt. Lets see..

Look at the volume, its low.

Results out within 2 days. We know production is down we will get rough idea what the sale price is.

Im not concerned at these levels its a buy

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..

Legache

The deal will not fall through, remember ther was multiple offers.

Also by dec the dollar issue will likely be resolved.

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.

Ok legache, but what have the management said, the disposal price is significantly higher than 75% of mkt cap.

Everything else doesnt matter..

Legache

That was last set of results and they have since signed Heads of term agreement to dispose egypt division for significantly higher than £6m.

Money will not be issue..

Littlened

Agreed, it was stated the buyer is large multinational operator with interest in egypt.

Alot of investment is going into oil and gas in egypt.

Interim results are out this week. Likely hear about new strategy too.

With regards to sale they expect to close by end of year. So who knows..

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

This is why "large multinational operator, with existing Egyptian interests" will shortly buy sdx assets in egypt.

Https://english.ahram.org.eg/NewsContent/3/16/509075/Business/Energy/Egypt-awards-four-gas-exploration-contracts-in-Med.aspx