Member Info for shakeypremis

I wonder what the NPV of this Tendara project is with this new deal. I bet the OPEX cost of each MCF this will produce are higher than SDX's.

Get back in your box nberzins. SDX doesn't go up and doesn't garner interest.

Just look at the number of comments on the Sound board, 181 today. I would probably put a lot of money on this board never having that many comments, ever. Have we even had a day of 100+ comments? I doubt it. Retail doesn't know about this stock.

That's about 3.5 billion cubic feet a year (3,500 MMcf/year)! That's a decent volume of gas. It works out to about 9.5 MMcf/d.

SDX current sells about 6.5 MMcf/d, which is approximately 2,350 MMcf/year. SDX certainly have the ability to produce more than what Sound will produce if they can find customers for it. I wonder if they could together work something out and start selling in to the Mahgreb-Europe pipeline? Although it sounds like the gas will be sold internally by whoever this Moroccan conglomerate is. $7-$9/mmBTU undercuts SDX but presumably this conglomerate will make a mark up which might bring the price in to line with SDX and besides 9.5mmcf/d leaves a lot of remaining demand in Morocco.

Morocco apparently consumes some 44,000 MMcf/year (~120MMcf/d) so could happily gobble up all the gas.

Sorry 100mmcm/year.

Tigris, it's not 10mmcf/year it's 100mmcf/year.

"The Moroccan-focused gas company said the proposed transaction will involve a
commitment to produce, process, liquefy and sell an annual 100 million standard
cubic meters of gas over a period of 10 years from first gas at Tendrara."

"SELL AN ANNUAL 100 MILLION STANDARD CUBIC METERS OF GAS OVER A PERIOD OF 10 YEARS FROM FIRST GAS AT TENDARA."

Tigris, what do you make of this?

The liquidity here is very low - it's basically HL and III private investors and a subset of them at most due to the firm hands which no doubt hold a lot of these. Which is approximately 10.89% of all issued shares. A further 65.7% of shares are held by sticky handed institutions holding over 3% each. No doubt there are further smaller sub-3% institutional holdings.

We are at the mercy of the whim and emotional and fickle nature of the AIM private investor at the moment so a few thousand shares will cause wild price swings. Shares are slowly transferring from private to institutional/HNW hands however.

https://www.sdxenergy.com/investors/significant-shareholders/

Page 28 of latest presentation;

https://s3-eu-west-2.amazonaws.com/wp-sdxenergy-2020/media/2020/06/23113648/SDX-Energy-Corporate-Presentation-June-2020.pdf

"(2) Significant shareholder split 65.7% institutional and 10.89% retail as at 29 May 2020."

There will likely be smaller institutional holdings below 3% (and there are some if you look at Morningstar etc) too that aren't on this list. This means retail shareholders hold between 10.89% minimum and 34.3% maximum. The 10.89% comes from the Interactive Investor and Hargreaves Lansdown AM holdings.

After months of undervaluation UKOG is now once where it rightly should be with a higher market cap than SDX.

For anyone in any doubt, yes, I am being sarcastic and yes UKOG is valued more highly than SDX by £1m.

But they are basically going to do nothing with South Disouq until 2022-23. That is disappointing. No chance of getting a higher production rate than 50mmcf/d it would seem.

"Given that existing plateau production is secured until 2023, SDX would look to drill follow on exploration wells in 2022-23."

Hopefully they do actually do something other than focus on Morocco in the mean time. Acquisition perhaps? This line in the presentation suggests Moroccan acquisition;

"Evaluating inorganic growth opportunities identified outside of the Gharb Basin."

Meseda drilling is also going to take 3 years.

AIM punters will not be interested in the slightest at these timelines. Still, SDX is stil very undervalued and clearly there is very large scope for increasing resources and cumulative free cashflow over time. It's possible the NPV won't increase much over these three years as SDX burn through the resources without adding much in the way of additional resources over and above what they already have. However the amount of cash they have on their books WILL INCREASE unless an acquisition takes place that is funded partly or in whole from cash. I am in my early 30's and can wait and will acquire more shares at significant discounts to NAV/NPV just like I did when the price hit 12p early this year. As I said though AIM punters will simply not be interested in this type of strategy.

They've collectively bought another 0.45% of the company up since March.

Nothing too significant (no pun intended) but Interactive Investor holding (retail PIs) down slightly, lots of other holdings up though. Basically a net increase in shares held by those mentioned in the list.

Low cost early monetisation doesn't suggest selling anything to me. Surely selling involves next to zero cost? It is very cryptic. In sure an email to SDX about it won't clear anything up as they never bother to reply.

I seem to remember that SDX's gas is used in at least one instance in the painting process of cars manufactured by Peugeot. SO in that instance at least I would say it is directly correlated as you don't manufacture cars and then leave them unpainted.

19p to buy right now but no shares available for purchase.

Can sell everything I have for 17.15p and getting quoted 18.6p to buy. Ridiculous.

Most likely and even if it does happen, it will be many years away.

Are you able to elaborate/post any source links? I know I and others would be very interested.

Cheers

While IPR may not back in to Sobhi it's not because they are cash-strapped. In the recent investor call Mark Reid said IPR were well cashed up and decided not to participate in the Sobhi drill because they didn't agree with SDX that the failed well at Salah had no read-through to Sobhi. It was a technical disagreement which they have been proven wrong on. Not because they didn't have the money. Now you may ask if they had the money why not back in? Because the return for backing in now is going to be marginal and not worth the risk considering other things that could still go wrong etc whereas if they had participated in the drill their return would have been greater.

https://www.morningstar.ca/ca/report/stocks/ownership.aspx?t=0P000182NM&lang=en-CA

They bought another 200,000 share recently.