Member Info for shakeypremis

Some buying going on too;

http://quote.morningstar.ca/Quicktakes/owners/Buyers.aspx?t=SDX®ion=CAN&culture=en-CA

They'd have all done it if there was something fishy going on. Simplest explanation is they are just all buying shares in the easiest way possible for them. They've bought approximately 330,000 shares between them (so far), which equates to roughly 0.16% of all issued shares.

Not saying SDX shouldn't drill those Morocco wells. They will increase reserves and give assurances for future customers. At the moment, we've been told that gas might well not be needed for quite some time and when it is, it won't result in any additional revenue generation if demand doesn't increase.

Apparently, the gas that might be found in those planned wells is not currently needed. Certainly not all of it.

How the hell are SDX going to buy anything right now? Cash reducing due to CAPEX spend, drilling on hold, terrible share price. No way they should do anything other than get SD online with internally generated free cash.

I think you are right. Another big sale in the works. As long as it isn't Waha or Ingalls I don't really care, just noise. It's unlikely to be either of them as they would likely have sold well before this if they were going to.

Everyone has been well and truly rogered by Squelch, quite possibly even the large shareholders have too, although I find it very hard to believe they didn't know he was BS'ing.

What I don't understand is how he got away with it for so long. Why didn't the board and Waha etc hold him to account a long time ago? They must have known. I don't believe they didn't.

They were all gobbled up though weren't they.

I'm off course referring to Morocco.

Surely now that it's clear that they can't really up the gas volumes sold all that much, maybe it's time to consider a gas bottling facility plugged in to the pipeline somewhere. They're surely going to find more gas given their track record and it doesn't look like there's the demand for it at the moment. You could sell bottled gas at market rates or slightly below market rates and probably still make as much profit as seLlong it through the pipeline.

This is very unlikely to just bounce straight back. Not unless someone comes in with a huge buy which I think is unlikely. We'll be lucky not to hit 20p in the coming weeks if you ask me. I need to get some funds together to buy a few more here as this is ridiculous. Unless you believe that SD won't EVER come online and Morocco will start to decline then this is stupidly cheap. They have over a third of the current market cap in cash and receivables. Of course that proportion is going to shrink as more SD capex is spent but still.

From the TSX. We'll lose these in the future.

https://www.sedar.com/GetFile.do?lang=EN&docClass=7&issuerNo=00026905&issuerType=03&projectNo=02918488&docId=4525452

I just hope it isn't Waha or Ingalls. Unlikely to be as they have inside information and they'd have dumped way before this.

I don't believe this is possible, not without approval from Waha and Ingalls. They hold nearly 40% of the stock and will likely hold a lot more in the coming months. A low ball offer would be rejected by those two and a lot of other shareholders too. It won't happen in my opinion. Plus the board would have to recommend the offer, and we know Waha have a man on the board too.

No hard feelings angela, discretion is the better part of valour. Said PW was full of BS, looks like the board/big shareholders thought the same.

At 20p, this is just stupidly undervalued. SD *WILL* come online at some point and they won't run out of cash before it does as they've committed to not explore further until it does. The large receivables balance in Egypt will pay for a lot of the further CAPEX in Egypt.

It really is pathetic how things have panned out but the potential is all still there and you can buy in for less than 27p/share right now. It seems to major stumbling block has been that CPF in SD. Once that is finally out of the way hopefully they can get back to exploring and tie in further gas finds much more quickly.

My only *real* concern is the Morocco slowdown. Still, it will keep ticking over and an exit rate above 7mmcf/d will be good in my book. Could happen.

You are right though, given the Morocco slowdown, falling production in Egypt and a further delay on SD, this could quite easily hit low 20's or God forbid, even lower, as people continue to dump shares out of frustration. With SD online this is easily worth 50p, a near 100% return from current prices.

Someone is also hoovering them up in blocks of 100,000 too though.

Someone is clearly dumping a lot of shares here.

Given the work still do at SD (from the latest RNS), how on earth could PW have ever said the things he said? Additionally, why didn't the board and Waha (MEA)/the other major shareholders reign him in earlier??? This company has been a bit of farce for nearly two years now, certainly production wise.

So it looks like the delist will occur after May 21st. If we see big volume after this date then I think we know who is buying.

I hope they ditch the Oil Walrus too. It was a waste of money having him regurgitate Squelcho's pipe dreams and will continue to be if they retain his 'services', unless I suppose someone starts to feed him realistic information.