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Earlier in the year PW mentioned in a number of interviews the possibility of a further transaction, so IMO I think the EBRD credit facility frees up cash for this option. An acquisition on the lines of Circle could be the catalyst we need to continue the re-rate.
Presume all available funds allocated towards the infrastructure for SD and this facility is required so they can move forward with LM North connection and field development. Looks like there's a lot more up side in LM North
https://mobile.twitter.com/Schmid_Blog
https://mobile.twitter.com/ees_events
Some info on a UK VRFB installation and general energy storage. Just get the feeling BE could be massive if VRFB starts to get some traction.
https://electrek.co/2017/12/04/all-electric-cargo-ship-battery-china/
Info on Chinese shipping company launching an electric cargo ship. VRFB looks the logical choice for this application with many advantages over lithium iron.
https://www.ajot.com/insights/full/ai-maersk-says-batteries-could-be-deployed-on-container-ships-by-2020
Info on Maersk looking into the use of batteries on container ships.
PW mentioned Tunisia again in the Malcy interview on the 19/6, is he lining up a potential acquisitions there? Seems an acquisition is very much part of the growth strategy, perhaps PW will look to close another deal late 2018 when they get the SD gas flowing and the extra revenue starts rolling in. IMO
PW's increased his target for production rates for SD from 50 to c.55-60 mmscf/d of conventional natural gas and c.500-600bbls of condensate per day for the first four years. The year end 8000boe/d looks like being smashed IMO. Great to here there's plenty more drill ready targets for the 2019 campaign even before we've acquired the next round of 3D seismic.
The SD-1X encountered 82 ft. of net pay with an average porosity of 25% and flowed dry natural gas at a stabilised rate of 25.8 MMscf/d. SD-4X 89 feet of pay and average porosity of 24% is comparable, so you would hope for a flow test result around the 25 MMscf/d. When you add in the 39.3 MMscf/d from IY and we've still got SD-3X to go we might exceed 100 MMscf/d.
Jamescarver, SDX is an E&P company, with the emphasis currently very much on putting our 2017 exploration success into Production, which is set to rise from 3500boe/d to 8000boe/d by year end. It's a low cost business currently generating FCF of $3m-$4m/pcm, which is set to rise significantly after SD is brought into production by year end at an initial rate of 50MMscf/d (c8000boe/d). We have had exploration success with the Rabul wells which has added to oil production in Egypt, with POO currently at $76 Brent our Netbacks are $39. We have had numerous gas discoveries is Morocco which are being connected to our 75% owned export line and supplied to Kenitra where we have Peugeot ready to start taking gas from next month, with the target being to ramp up production from 5.5MMscf/d to 24MMscf/d (capacity of the export pipe). The prices we sell gas in Morocco is rising from $10 to $12 with production cost >$1, so very high margins. All of the above is either in or near term "PRODUCTION" which differentiates us from SOU, which has no production / revenue at all. We also have significant further exploration potential, although we'll save that for another time. I'm happy to debate any concerns you have with SDX and I'm open to reviewing any legitimate risks you feel I may have overlooked in my research, after all that's what these BB's are for.