Member Info for nberzins

Daft63 isn't a snowball a bit off piste as it is a completely different confection to a hobnob!

I've seen these trades but as they are always at the mid-point of the spread so they don't register as buys or sells. What I suspect these are is either market makers doing housekeeping or movement from TSX to here.

I agree it is good news and I would hope that the company is a bit more aggressive in its development plans. We know it has the drilling campaign and other expenditure mapped out for 2019 which is to be self-funded. We also know that if the independent projections are to be believed then cash generation for 2020 and beyond will be significant. Then why not utilise some, or all, of the loan facility (which has been put in place for precisely this eventuality) to start the seismic work on both the new licenses immediately with a view to drilling the exploration wells in 2020 when there should be enough cash to complete that work and repay any loan..

I wonder whether they will tap into the loan facility to progress these concessions. I would see that as a positive move as free cash flow will be on the increase to quickly repay expenditure on an accelerated programme.

Why would they delist? If they truely plan to look for acquisitions then why would you close off one of your best routes to finance via a rights issue. While I don't like the dilutive effects I don't see many other ways to grow to a $1bn company.

I'm afraid it's not an exact science. If there is a small continued drip-drip of sellers then the price will drift down as we have now.

Perversely because the company is growing steadily with the position of its resources fairly well defined then it is pretty boring so would need something special to the energise the share. Where you have hype and expectation beyond reality then you can see shares fly - remember Range Resources and even Sound a while back - that's where you can get burned. I don't mind boring and I am sure the price will reflect the progress over time.

Because this type of share trades at around 50% of RENAV. On which basis we should be 55-60p now and 80p next year all things being equal. the RENAV is not a bad figure to use when you look like being taken over.

Because this type of share trades at around 50% of RENAV. On which basis we should be 55-60p now and 80p next year all things being equal. the RENAV is not a bad figure to use when you look like being taken over.

We know that this share is fairly illiquid as can be seen by the effect of modest volumes moving the price (I am ignoring the very recent large transactions which I suspect are TSX transfers). So imagine the effect of someone trying to increase a stake from 20 to 30% - that's 20 million shares. There is no way that the price would continue to hover around 40p and in all likelihood others would join in a buying spree providing further upward pressure.

So overall I am fairly relaxed as the company is ticking away, earning money and gradually increasing net worth. If there is an attempted acquisition I would expect the price to be sufficient to put a smile on my bank managers face. That puts me here for the long term.

Don't you just love AIM. But I did hear the Loch Ness Monster has a secret 4.9% shareholding that could tip the balance!!

My guess is 60p as SD should be online and the H2 drilling program should be instituted but I would guess cash at no more than $20m due to known Capex especially getting SD online and little additional cash flow as SD won’t be contributing.

What might change it is BP or a smaller Egyptian deal comes into play and/or SD production is ramped up to service liquified gas demand but this would still be.a stretch to double from where we are today. I do see £1 a share in the medium term; maybe 2 years plus but nowhere near that in six months as over that time horizon we pretty well know what is occurring.

In honesty if the directors alone were moving their holdings from TSX to here then that in itself would account for the volumes let alone any other significant shareholders who are able to switch. While it will cloud the trading position for a little while it is not actually affecting the price as has been pointed out already.

More like unloading with multiple 100k sells

Normal AIm service resumed - a reasonably positive statement so, as predictable, the shares slide down. Many more sells than buys so it is inevitable; been the same for some time now.

There are some large trades showing, two for 1m and 1.5m shares at the midway price of the spread. Are these the MM doing some housekeeping or trades between MMs. Can anyone enlighten me?

And the can is really battered now!!

My concern is for cash flow now. They are spending more than they are earning so do need a boost in revenues if the Capex keeps going at this rate. When SD comes on-line then various estimates point at a net $1m per month to SDX but this may not start until mid-year. However, they will be billing the Egyptians the gross price yet we know the government are very slow payers. As a result, I would question how much cash SDX will see from SD in 2019. Don't see them running out of money completely but it will constrain their development plans, and kicking the can down the road another year before a re-rate.

If we do a dozen trades in a day I’m going to have to change my underwear !!

No buys since the 18th no wonder it is still drifting.

As long as it is commercial I am happy to see their inventory increase in volume even if it does nothing to the share price today. Having small steady incremental increases may not be to everyone's liking but it is like putting small change in a jar that surprises you when you count if after a year.