Member Info for shakeypremis

They love dilution and are currently valued at £68m compared to SDX at £64m.

I just hope the conspiracy is real otherwise it's a way else situation of bad management. Also the possibility exists that it is actually the Egyptians screwing around.

How low a price will they be able to get them at? Looks like it's going sub-30p
Who would have believed it. If they are going to buy another 10% they'll get them at a bargain price by the looks of things. We'll find out soon enough.

To be fair, PW isn't running this thing. Waha and Ingalls are. Those two, plus the board, control 40% of this company. They'd have to be offered a very nice price to sell if you ask me. In order for a takeover to go ahead the board would have to recommend it (and who controls the board...) I believe and then it would need shareholder approval which I believe is 66% or more. Given waha and Ingalls plus the board control 40%, a takeover going ahead without their agreement isn't possible.

So i think the only way sdx gets taken over is if a very nice over comes in or waha etc want to take it private.

I actually do hope there is some skulduggery afoot as if there isn't it's just incompetence and lies. That wouldn't be good.

The problem is, that was being said two years ago. Will it be ANOTHER two years? It would seem unlikely, but given what's happened each and every time time SD was supposed to come on, you'd be forgiven for believing that could be the case. These delays will also harm future share price appreciation for new discoveries as people will wonder how long they might take to come on. SD will have to brought on and new discoveries will also have to connected within stated timelines for the market to start to believe in this thing again if you ask me.

For Christ's sake, Morocco is still only doing 6mmcf/d. It was supposed to be way over that by now and PW even said it was doing 9mmcf/d early this year. Total BS.

As I said things are going to have to start happening here and start happening when stated. If things miraculously start to a short time after TSX delist and subsequent large purchases I will laugh as we'll know with near certainty what's been going on.

There goes Squelcho's 70k bopd target for 2019. Now it looks line Dragon are going to get the BP assets. It was obviously never going to go to SDX. Why did he even try to make out they would? Has he actually gone rogue? Everything he has said for a long time has been utter BS. How is he keeping his job? The two major shareholders must be happy with something that's going on.

I think people are becoming skeptical about whether it will come online or not. FWIW I think it will come on at some point, but even by the end of year? I've no idea.

Interesting NotPerfect. I am not saying anyone is trying to hide anything. Just saying that this HL shareholding seems to have appeared relatively quickly and could easily be HNW's building a position, or PI's pushing total holdings under HL over 3% I suppose.

Still,

I don't think that can be the case. SDX are a 12.75% equity holder in the drill. Surely the other partners would have announced by now. They aren't beholden to Waha etc. Most likely the analysis is STILL going on. PW said several months ago now that they would have results in a couple of weeks. More BS.

Plus, I believe Hargreaves Lansdown Asset Management is not the entity that you or I with our nominee accounts would come under. There is a separate company, Hargreaves Lansdown Nominees Ltd where they would go.

https://www.hl.co.uk/security-centre/how-safe-is-your-investment

Further convinced the HL holding in SD is one or more HNW's with their assets managed by HL Asset Management.

Notperfect, could be. Although the holding seems to have been built up very quickly. It wasn't listed at all by SDX on their website in March 2018 but was listed as of the end of January this year.

https://web.archive.org/web/20180812213352/http://www.sdxenergy.com/investors/aim-rule-26-information.aspx

https://web.archive.org/web/20190301102610/http://www.sdxenergy.com/investors/aim-rule-26-information.aspx

I would wager that it's one or several HNW's personally.

If Waha and Ingalls are to buy another 10% each (it might just be Waha as Ingalls could buy a few more now but haven't as yet), where will those shares come from? Nearly 70% of shares seem to be locked up in 'safe' institutional/HNW hands. Even if you take away some of the smaller insti holdings you're still looking at about 60% locked up. Last year small insti/retail held circa 40% of shares, as of the end of January this year this number has fallen to circa 30%. 10% has gone to larger more patient holders. The extra 10% Waha may well want is almost certainly going to have to come from retail holders and small institutions. Where else? Retail has been selling out of this and the shares are going to bigger fish. If Waha want those shares I think we can expect to see this behave with a lot of volatility, up and down, with a bias to the downside I'd wager. That period of volatility will allow Waha or a 3rd party/parties acting on their behalf to pick up the shares.

Been there since January this year and likely last year too. Retail/small insto holding is down. Shares transferring to the patient.... or gullible maybe?

I would be loading up at these prices. It's dirt cheap. I just don't trust PW anymore. SD still isn't online, after numerous previous assurances that it would be, and he's even been lying about Morocco production numbers. Saying they were producing at 8mmcf/d when in fact we found out later on this year it was more like 6mmcf/d. This company is worth a LOT more than the current valuation IF production is ever increased. I really do hope they are just stalling things to allow the two big holders to buy more. Otherwise something could be badly wrong. You have to think that if it were the two large holders wouldn't stand for PW's pure BS and they'd get rid of him. The fact he's still here and still BS'ing with impunity perhaps suggests they're happy with him doing it.

I suspect, given SD's location, that of SD ever comes online, the gas from it will be used internally within Egypt.

They are funding a lot of SD costs by using the receivables balance and just writing it down as work is done with state contractors.

I should also add that he has always been too optimistic on timescales as I remember posting about his timescales for Morocco drilling always being about 50% of the actual time taken. That certainly wasn't about keeping the share price down, that was just Squelch being Squelch. He definitely does have a habit of overpromising on timescales. I just don't believe that that's all we are seeing with the SD delays. He has definitely been lying about SD.

No. You haven't been here invested since February 2016. SD was initially supposed to be online by the end of THAT year, let alone 2019. That may well have been PW being too optimistic, it's possible that he is still sniffing his own BS and smelling roses instead of the awful stench the rest of us get, but combine the never ending delays with a TSX delist and it sinks even more.

There it is, another missed timescale for South Disouq. Can this really all be incompetence/Squelch being too optimistic? Maybe they really are trying to keep the price down. However, Waha Capital and Ingalls (two top shareholders holding nearly 40% of the company between them) aren't selling despite the poor performance and missed timescales. They would know - particularly Waha - if these delays are intentional, and they still aren't selling. If the delays are anything else, they still aren't selling. These guys are going to increase their respective holdings by 50% each after the delist. Possibly sub 30p too. I'm immensely pissed off but I'm not selling either.