Member Info for shakeypremis

I remember saying early on. I think in early 2018 that PW simply couldn't be trusted on timescales and was attacked for it. Should have sold then at the highs. Still, hopefully a new CEO can sort this thing out as the potential hasn't disappeared.

Morocco slowdown is concerning and another year without any growth there.

I do still expect Waha to take this opportunity to buy more shares.

PW deserves this, I just hope he was given his marching orders rather than him walking of his own volition.

I've today submitted by vote to my broker to vote on my behalf. I've elected to vote in favour as I see no point in trying to resist.

I'm going to stick my neck out and say we are going to see a miraculous increase in actor here sometime after the vote passes. Please prepare some additional hats for me to eat when I'm inevitably proven wrong and it becomes apparent that there was no conspiracy and SDX just can't get sh*t done.

That's what I thought, cheers.

I see. Someone has been buying all that dumped stock so I guess they're in favour of the delist.

Also, why wouldn't AIM shareholders get a vote? It affects the whole company.

Comparing Amerisur to SDX is likely (I personally don't know anything about Amerisur) not an apples to apples comparison. All BOE's are not created equal. While they might be equivalent on an energy contained basis, they aren't necessarily equivalent on revenue baits. SDX's 'soon' to be produced Egyptian BOEs from the SD gas will be worth significantly less than a barrel of Brent crude.

Anyone been contacted to vote yet?

Nothing is happening here until that vote goes through and the shares are delisted.

An mcf equates to about 1.037 mmbtu so not much difference there. Also the price quoted is what the State power company will pay, so presumably end customers will be paying more.

Ignore me. Worked it out.

I'll be at work sadly. But shall reluctantly be voting in favour of the delist in abstentia. Will my broker allow me to vote?

Yep. They're dropping it.

The other options ar;

1. SDX really is going down the toilet as a company in reality which I really doubt as Waha et all would have dumped it by now
2. The weak price really is just the rest of the market losing faith in the company and the TSX delist.

Certainly some of the weakness we are seeing MUST be attributed to number 2 as I can't believe it's all blatant manipulation.

Regardless, we will learn our fate by the end of the year. Do you buy more shares though? That's the question. I might buy a few more on Monday, but I would like to wait until after the delist to see if Waha and Ingalls pick up more. I of course don't mean I will wait for TR-1's as that will be too late by then, I mean if we see suspiciously large trades going through right after or soon after delist.

Two weeks until the vote, as I said a while ago, if the conspiracy is real then it's pointless trying to vote it down (which in theory we could as Waha and Ingalls don't own over 66%), because they'll just try again or try something else. If it isn't real, the delist won't do any real harm anyway.

I still don't believe a takeover is the MO here. Neither Ingalls or Waha are going to accept the crappy price to hand over their shares to themselves or anyone else, so unless there is an under the radar joint vehicle being formed to take this thing private then I still think they just want cheap shares to add to their holdings. Neither of them are in the business of taking companies private. They must be after a higher share price in the future.

They wil drop it Monday. I predict to 26-28p. However, I think as you say buyers will step in and bring the price up - I may well be one of them. Although it'll probably still end the day down.

i wonder what he actually does at SDX? Merely relay orders from Waha/keep an eye on SDX?

Enterprise value is currently sitting at around £51m and will go sub £50m on Monday. If you take in to account the receivables balance of approximately £12m (which I don't think is allowed in an EV calculation but anyway) it is £39m, and again will be less on Monday.

EBITDA for 2018 was £26.5m, giving an EV to EBITDA ration of less than 2. About 1.5 if you take in to account the receivables balance.

At 26p/share - which this could conceivably hit on Monday - you could see a 200% return and STILL not hit RENAV.

I doubt the board will buy any. Reid won't as he works for Waha and Squelch probably won't either. It would be a nice vote of confidence if they did. I'm sure we'll see some buying by Waha etc soon enough though. I'm convinced that this company will be worth a lot more in the future (its worth more right now) but there's just always that nagging doubt when you see a share price decline like this has. You can never know. I've got SDX shares coming out of my underwear so I shouldn't buy more but...

If anyone knows about bad news or lies or whatever it will be Waha and Ingalls. They haven't sold a share.

Just get's better and better doesn't it. There was a gap from a long time ago on the TSX chart;

https://tvc-invdn-com.akamaized.net/data/tvc_20e99c1d4fe0365956113bf3ef3ff095.png

That's just closed. There is a gap between 28p and 28.85p on the SDX chart too. Get ready for a terrible Monday. Get your chequebooks ready too though. This is getting stupid.