Member Info for shakeypremis

Fairly certain it can only be used in Morocco and can't be used to buy back shares therefore.

SDX's fellow oil company in Egypt, Transglobe Energy has also been absolutely hammered too. Worth less than SDX now. It isn't making any money at the moment and has had to cut back on basically all CAPEX.

Only if they can get the share price to increase lol.

Can't sell the gas quickly I should say.

Massive margins in Morocco, they just can't sell the gas. See this summary of a new research report from Auctus posted by Tigris72Poo. South Disouq margins will improve over time with each incremental discovery brought on stream due to the large sunk costs already spent:

"Good report by Auctus. Only thing they missed is that we now own 100% of the two large prospects in SD (Shikabala and Shikabala North) as a result of IPR's decision to pass on SD-12X. Their main conclusion and target:

Value build-up
SDX shares trade at EV/DACF multiples of ~1.3x in 2020. Our 2P NAV is £0.27
per share, representing 70% upside. The prospective resources already
identified have an unrisked NAV of £0.12 per share for Egypt (+75%) and
£1.03 per share for Morocco (+600%). The main exploration drilling
programme is restarting in 2021 but the company should test the LMS-2
well in Morocco in 4Q20, should COVID-19 restrictions be lifted. A success
would derisk ~5 bcf WI resources at LMS-2 (+£0.13 per share) and a further
~20 bcf WI resources in the wider La Mimouna area (+£0.50 per share). Our
target price of £0.40 per share (~ our ReNAV) represents ~150% upside."

Highlights just how valuable that Moroccan gas it could they sell it! South Disouq gas is pathetic in comparison (a lot of that is due to the ****ty fiscal terms of the Government) but at least they can sell it.

Thanks Tigris.

I will say it again in the hopes someone else buys 100,000 shares.

No one cares...

No one cares. Not a single share bought or sold.

They had better not try to sell any of them.

Based on the share price alone they shouldn't even be getting half those shares.

An acquisition would seem the only way out of this share price mire in the near term.

South Disouq may provide a way out in the future due the prospectivity of targets they keep generating but that is some way off.

Morocco? Nothing obvious on the horizon. They should find a way to monetise the gas they can't sell but they don't really appear to be doing that.

Still, cash on the balance sheet should begin to increase. Maybe US$15m by the end of year? That would be nearly £12 at the current exchange rate. Over a third of the current measly market cap languishing at a value of £30m.

Sorry for the double post. My first comment didn't show up weirdly until I posted again.

This has to be one of the worst performing share prices of a profitable company in the world. One with growth prospects too (allegedly) and no debt either.

This must surely be one of the worst performing share prices of a profitable company with half decent growth prospects in the world.

Could be wrong but it was something Paul Welch said once and a presentation from Waha which I am trying to find. SDX could be a vehicle for them to build an O&G portfolio across the MENA region.

Curiously, despite the rock bottom price and apparent lack of demand I can again get quotes to sell the entirety of my not-inconsiderable stake in SDX. Can sell the lot for 14.4p. Best buying price is 15.4p. Spread has always been a problem here.

Is there another large order (as far as SDX goes) behind the scenes?

Yes it could. If PI's continue this dribble of shares the share price will continue to tank.

They don't care about the share price. They (Waha) appear to be trying to build something with SDX. They wouldn't use the cash to buoy the share price anyway when they require it for acquisitions.

It's broken out! But to the downside lol. Classic.

https://tvc-invdn-com.akamaized.net/data/tvc_1e0d224d23782b27243b7895ad217ff8.png

Absolutely crazy pricing. Probably get worse if oil continues to decline.