Member Info for shakeypremis

You're forgetting the government cut of production. Entitlement (net) barrels to SDX is something like 20-25%.

315 barrels/day gross translates to around 80 barrels/day net to SDX. Not a lot. Having said that, at circa $25 netback/barrel and a conservative 320 days per year operation it should generate at least $600,000 in profits for the first year (not including the drilling costs). It'll likely decline over time but should generate free cash flow after all costs. Basically, it was worth doing and I note further development wells are planned.

Looks like price is being held to fill orders.

Been holding for far too long to dump them now, at such a crap price, so close to transformative (we hope) operations.

What's the next ask? 23?

Well, during the recent large rise there was a 50k seller bringing this back down to earth. They had been buying the previous few days before the pump and during too. Perhaps they are the same entity and are gearing up for another pump and dump here?

Back again today with his nose in the trough.

50k buyer seems to be back.

Somone decided it was a good day to buy 178,000 shares today.

Me neither. We'll probably get a result on the recent Meseda drill soon. We're still waiting for the South Ramadan result too. The fact it's taking so long is kind of encouraging I think. It continues to make me laugh that after the drilling result was annouced PW said it would be only a couple of weeks until we had flow results for it.

Savagery of the highest order. Poor Oil Walrus. He brought it upon himself however.

Perhaps Malcy removing SDX from his bucket list is a contrarian indicator. Why he would take it off the bucket list now just when things look like they are getting on track and the share price is at rock bottom. Perhaps he wants to put it back on his bucket list again and then look the bee's knees to new followers who won't know he was so wrong about the company for so long.

Maybe he's sore he's didn't get his free lunches/dinners at the analysts meetings.

~£46,000 worth of shares traded, ~245k shares (0.11% of total outstanding shares) and down another 5%. Got to love it.

Olderandwiser, if you don't mind me asking, are you on the HotCopper website under the same moniker?

Very clearly it was a pump. I said as much on the day. There is still very little interest here in SDX and a low free float. It can go up quickly (although that takes volume) and go down even more quickly (on next to no volume).

Down 5% today on 169k shares, 0.08% (yes eight hundredths of one percent of total outstanding shares). ~£34,000 worth of trades resulting in about a £2m loss in market cap.

It was previously called MEA Energy Investments. It's a holding company owned by Waha Capital who are based out of Dubai.

Also there's a bit of an issue with this company whereby buyers or sellers who should be obliged to notify when their buying or selling crosses certain thresholds, just don't bother to notify. Happens a lot.

The free float here is between 30%-40%. There are two main holders who between them control almost 40% of the shares alone. These two links should help you out. Better to look at them at the start of next month as they'll be updated then.

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

http://tools.morningstar.co.uk/uk/stockreport/default.aspx?tab=5&vw=own&SecurityToken=0P000182NM%5D3%5D0%5DE0WWE%24%24ALL&Id=0P000182NM&ClientFund=0&CurrencyId=BAS

A dividend paying company would certainly suit Waha's MO.

http://www.asb-law.com/what-we-say/articles/articles/2010/reduction-of-share-capital

"Reasons for a reduction of share capital

To eliminate a deficit on the company's profit and loss account and thereby enable the company to pay dividends. To return excess capital to the shareholders."