Member Info for shakeypremis

Some rather large trades going on. 1 million shares scooped up in three trades since the 29th. Could well be the same buyer. Yes, shares are of course being sold to match these buys, but it does look like there is a large accumulator out there. About £400,000 worth of shares bought, just under 0.5% of issued shares. See below;

31-Jan-19 13:46:15 39.75 250,000 99.38k O
30-Jan-19 11:21:45 38.50 500,000 192.50k O
29-Jan-19 16:31:44 38.75 250,000 96.88k O

Must be due news on Ramadan soon. Let's hope it flows really well or at least gives an indication of there being lots of oil in the area for future drilling.

He's almost certainly posted on the wrong board. Never commented on SDX before according to his profile.

*US$36m not GBP.

A post from someone on the Stockhouse.com board;

http://stockhouse.com/companies/bullboard?symbol=v.sdx&postid=29289019

Apparently they've spoken to SDX and TSX shares will be exchanged for AIM shares if it goes ahead. Now that doesn't help you all that much at the moment but if you were to transfer your SDX shares to Interactive Brokers in Canada I suspect that you could then have them exchanged for AIM if/when delisting goes ahead. Might be worth investigating if you want to stay invested in SDX.

Didn't MEA Energy buy shares in Canada? What are the likes of them going to do? Perhaps this is why they recently changed their name to SDX SPV Ltd.

It also sounds like SD can only ever do 150mmcf/d of gas because that's all the pipe in to the main line can handle. That's a bit annoying. It seems like SDX could quite easily exceed that after a time. Perhaps I heard it wrong, but that's what it sounded like. Maybe another line could be built too though. Who knows.

I am paraphrasing here but PW remarked upon the SD drilling programme only having two wells planned but he could see that going up to "6-7" with some success on the first two. Not all of the extra wells would be drilled in 2019 however.

You really can see it all coming together, and coming together rather nicely. If the new Moroccan and Egyptian exploration campaigns are as successful as the previous ones you can see A LOT of upside here. It's just going to take time, and a lot more time than I think most of us and PW anticipated.

At a minimum they're going to need around $11m cash to do the work of they use the debt facility in Morocco. Given the work is supposed to start backend of this year SD will hopefully be online and generating cash by then too. $11m should be easily funded from cay flow and they could likely fund the whole $19m from cash flow too. Presumably they'll recoup a little extra of the receivables balance from the Egyptian government too. I don't think there will be a placing.

$36m CAPEX planned, $28m in Egypt and $8m in Morocco. Sdx have circa $17m cash right now so they'll need another $19m to do the work. That should be possible to fund entirely from cashflow and they can use the Morocco debt facilty to pay the $8m in Morocco if necessary. Sdx spend a lot of their free cash flow on capex, so much so that despite them generating a lot of money the cash balance still decreases. They need to spite a return on investment on the capex. Morocco sales have increased a couple of mcf which is good growth, although the target of 9-11mcf for 2019 doesn't sound at all ambitious at the lower end and in Egypt capex has so far yield no extra cash flow (save for rabul wells). Hopefully this will all change in H2 this year as SD comes online.

Good article, most important point as far as SDX is concerned;

"In September last year, PSA Group announced that its Kenitra plant, set to produce 100,000 cars in 2019, will double its annual production capacity to 200,000 next year at a cost of €560 million."

That must mean a lot of extra gas, not necessarily 100% more, but a significant increase you'd think.

It's a decline level of resistance, not flat. Over on the TSX the price tried to break out but closed beneath the line(s) sadly (what a surprise). We continue the wait.

https://invst.ly/9vl97

It's perfectly understandable, why would anyone want to own shares in an £80m market cap company that's going to only make circa £38m a year profit in about 6 months? No debt and about £10m+ cash is also pathetic...

There seems to be next to zero interest in SDX right now (of course that doesn't stop the price going down on small selling). 2,400 shares traded today? We must be at some kind of all time low in interest.

In time, just not yet. Those will probably act as resistance too.

There's the small matter of another gap in the chart at 37.5p. I suspect we are headed for that.

It would take a long time to prove up a good sized field. The Morgan field produces around 40,000 boe/d and must have many wells in it. Unless this well turns out to be a stonker I doubt SDX are going to see any sustained increase in share price because of it.

Just an article with a little map of the concession and it's position between two large producing fields - Morgan and Ramadan. I suppose if this well flows, there will likely be further drilling in the concession.

https://energyegypt.net/sdx-assessing-commercial-potential-of-south-ramadan-concession/

Don't know what the earnings are from those without digging in to it so just gave the profit from SD and Morocco which is large enough by itself.