Member Info for shakeypremis

Someone definitely took the opportunity to load up. Problem is, this has happened time and time again here and the share price just doesn't sustainably rise. New direction and cash build on the balance sheet is going to be required.

But will the share price ever get back to 27p again?

You could be right, but it's quite possible you aren't.

This has been going on for years. Slow gradual drop in the price. Has this hidden hand been at this for several years? It's possible I guess...

The only reason the board aren't buying is because they are complicit in this grand strategy to take the company private? Again, possible, but really? The more likely explanation is they just aren't aligned with shareholders and are happy with their salaries and cushty jobs.

And where the F are those drill results? Not a word out of management. There clearly must be delays or they are hiding a duster. They said we would have been informed by now (in fact well before now).

This is what I have been saying.

The business hasn't so far generated any FCF, operating cash flow yes, but not free cash flow. And they also haven't really increased the NPV while spending all of that operating cash flow on CAPEX (drilling etc).

Now there should be a lot of FCF in 2022 and 2023 given current projections, but do you trust the management team here NOT to waste it? I know I don't. Now I am not saying they will waste it, they may spend it very well and generate some fantastic return from it but their track record makes on nervous.

I doubt it. This has happened many many times before here and nothing. A fools hope hoping something will happen here. Now, of course anything could happen. But no evidence to suggest anything and based on prior performance I would say no. Just someone trying to accumulate a position.

Clearly a buyer there then. Usually it would be hard to get a quote to sell 10k.

Littlened, this is how this stock trades due to low liquidity and weak AIM PIs who don't know what they are doing. People have been saying for years this is being manipulated down for a takeover but nothing has ever happened.

Yes! And then another even more strongly worded letter when they inevitably don't respond and don't alter course. That should do it.

Waha etc must be breathing down these guys' necks. If they aren't it would explain why Reid and Box are so blase about everything. Neither of them have a significant stake in SDX other than salary and have bought no shares for years, neither have the board. Absolute basket case, management and all board members need to go.

Valuation is now significantly less than one year's operating cash flow. Of course free cash flow is what really matters and given this company has generated either 0 or slightly negative free cash flow for years the worry is that this will be no different next year. We thought we might get some free cash flow this year and see some cash added to the balance sheet but it is now looking like that might not happen.

Projections for CAPEX in 2022 indicate 2022 should be a year of free cash flow generation but no one trusts this company.

8p looking i danger. If price gets more silly I might have to add. Although I want to see successful outcome of Meseda drill. Where are the comms on this?

It'd do no good. If Waha etc don't have the clout or the desire to change things here, we have no chance.

Really quite absurd valuation now. Liquidity is very low here and no demand for shares so when some PI wants to sells a few K's worth, it drops and keeps dropping. MM's fill orders when they have them but there is no real demand for shares on a consistent basis and given such low liquidity and most shares in (apparently) very tight hands, a big buyer can't really get in. If someone does want to get in here in any size they'll either have to agree a trade with one of the big shareholders (seems unlikely they'll sell given they had every chance to before) or they'll go to SDX and try to do some kind of financing to get a decent stake.

Could go either way here. Although short medium term the company won't go bankrupt. Should have additional cash on balance sheet. But if anyone can squander it it'll be these guys.

I think that is one thing we can all agree on here, management really are bottom of barrel salary men. Where are the comms?

Even I think that is unlikely and would be an absurd valuation. If anyone can make that valuation a reality though, it's this company.

They might not say anything until the end of the campaign. Especially if there are dusters. It is their style. They do the same in Morocco usually.

If they actually can extend the life of South Disouq by just a couple more years (at 50mmcf/d) then the current valuation is going to prove quite absurd. This also assumes Morocco/Meseda production and sales remains at or close to the same levels (or increases).

Jesus, it's going to go below 9p.

Interested to know just what those 'strategic initiatives' in Morocco are. I remember them saying something similar several years ago regarding Morocco but nothing came of it. To be fair, the wording was not quite the same so perhaps this time they'll actually end up doing something.

So up to 3 drills in South Disouq next year too. Are they actually going to go for those barrel scrapers? Presumably Mohsen is one of them.

Mark said they were looking to firm up some additional exploration potential they are seeing in South Disouq. Let's hope to Christ they are some decent sized targets.