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Cairn Energy the Edinburgh-based oil and gas explorer and producer is also snapping up Shell's Western Desert assets in Egypt. It intends to buy 50 per cent of Shell's production, development and exploration upstream interests in the area for $323m net to Cairn, with additional contingent consideration of up to $140m net to Cairn if certain requirements are met. The rest of the interests will be acquired by Cairn's consortium partner Cheiron.

More oily action in Egypt.
https://energyegypt.net/united-oil-gas-announces-spudding-of-asd-1x-exploration-well-in-egypt/

https://energyegypt.net/sdx-energy-extends-egypts-west-gharib-psa-for-ten-years/

It is good to read that 'reserves in our core West Gharib oil asset, certified at 2.2 million barrels in our 31 December 2019 CPR, by 60%'
This adds significant value to the SDX portfolio and underscores the production forecast for 2021 onwards.
Well done BOD and a good start to the year while cash is pouring in from the higher ppb and the new gas from Sohbi.
Great news

Don't forget the forum appearance this evening.
Nick will be giving an interview and maybe will firm up on drilling timings and cash in bank.

Thank you 34ads, I see that on the timetable, Q3.
SDX announced though that the Hanut drill would follow swiftly on from Ibn Yunis 2x which will start next quarter.
Hopefully a successful development well before Hanut.

In late January, SDX said it would drill the Hanut well in the second quarter of 2021.
Not long to wait now and hopefully, Hanut will be April/May.
Meanwhile, SD-12X (Sobhi) well, where we have 100% entitlement interest, has been pumping away for 2 months, raising production to 10-12 million cubic feet per day.
There is no doubt that SDX has started 2021 very strongly and must be generating ooodles of cash.
When will we hear that the drilling programme in South Disouq has started?

Like Shakey said, David Newlands maybe 'doesn't have the cash to buy the stock? More likely he just thinks it will go up and can't get the stock without pushing the price up.'
There is no doubt that David Newlands is a very successful investor in the Energy sector and has positions in several energy businesses, in particular Independent Oil and Gas who own the Thames Pipeline. He is well connected in the industry and has a substantial investment in SDX. He has increased his position in SDX recently, buying up over 500,000 shares at sub 20p prices. The spread bet is his latest 'investment' in SDX, I guess because he cannot buy shares quick enough on the open market. The moral of the story is, don't sell your shares in SDX, David Newlands will snatch them up if you do. He sees great value in them at these prices.

Hi Shakey, not 0.19% but 0.59% of all shares.
Newlands spread bet covers some 1.2million shares surely.
How much would a spread bet like that cost him?
Anyone have an idea?
It seems to me that he must be very bullish about the upside potential of the SDX share price, or why do it?

David Newlands has placed a nice long spread bet on SDX shares going up.
I believe that he now has about 2million shares covered on his 2 long spread bets.
Why spread bet? Presumably, he can't buy enough through the market quickly enough for him.
I guess that he thinks SDX will increase in value substantially over the short term, or else why do it?
Good luck to him I say.
A big vote of confidence in SDX.

Well done Legache, that is a good question.
The Agreement with the Egyptian national gas company, EGAS, was signed in 2018 I believe. The only terms of the agreement that I am aware of was the fixed price of US$2.85/Mcf, and that the Government of Egypt's entitlement share of gross production equating to approximately 51%.
The agreement appears to be identical to other gas agreements with several other Egypt gas operators. Not sure what facility there might be for varying the price of the gas.

Project Green Light 11 says, and I quote,
'An uncommitted tranche of up to USD 15 million is contingent on SDX Morocco acquiring further natural gas assets in Morocco, which would be monetised through infrastructure investment including the potential usage of state-of-the-art Compressed Natural Gas ("CNG") technology.'
The very important piece there is, 'including the potential usage of state-of-the-art Compressed Natural Gas ("CNG") technology.'
If SDX are seriously looking at a mini CNG plant in Morocco, they will need to negotiate a supply agreement with one of the bottled gas distributors to take tanker loads of CNG, bottle and distribute. I can't imagine that SDX would actually consider buying a bottled gas distributor!!
This will take time and any announcement would need to be postponed until they are ready with a joined up proposal.
Only then would the USD 15 million EBRD loan become committed and therefore require an RNS

I received a very courteous and helpful reply to my email from Nick Box.
I suggest that you make your own enquiries and understand why there will be no immediate announcement about the EBRD loan facility.

Yes, I echo that. Good work Shakey and thanks for posting it.
Why on earth SDX and their advisors are keeping so quiet about something that has been in the public domain since before Christmas, heaven knows.
I suggest though that SDX are trying to get quotes for the establishment of a Mini CNG Plant to be installed in Morocco at a wellhead site. This would be a key part of the proposed investment, and its viability will depend on a distribution agreement with one of the major suppliers of bottled gas.
I guess that SDX are working on the Project and intend to announce when they get their ducks in a row!!.
AIMHO of course.

Good solid progress, Morocco back to normal volumes.
EBRD loan approved, but we know that there is more to the EBRD loan than just approval, don't we?
An increasing excitement over the Hanut prospect.
All good stuff and very solid for SDX.
I would like to see a new Cash Flow forecast alongside all of that, showing strong cash build up through 2021 and ending with a healthy increase in the year end bank account.

I see that Luckcounts sold his entire holding today.

I am amazed that we have still heard nothing official from SDX about the EBRD loan Facility.
It was agreed and signed before the year end and still no news from SDX 3 weeks later.
"The European Bank for Reconstruction and Development (EBRD) signed a $ 25 million financing agreement for SDX Energy Morocco. This five-year facility includes a first committed tranche of $ 10 million to connect local industries to the company's gas fields in the Gharb region. A second uncommitted tranche of up to $ 15 million depends on SDX Energy's acquisition of other natural gas assets in the country."

David Newland bought an initial 2million or so shares in 2017.
I believe that he has been steadily increasing his stake in SDX for months now.
I understand that he also owns a substantial stake in Independant Oil and Gas, which owns the Thames Pipeline.
The good thing is that he sees upside potential in SDX and now is the moment to average down.
He has bought steadily over the last few months at sub 20p and doubled his holding.

Question for you Shakey!
I know that you follow SDX's share price movements very carefully, but do you also follow the share volume movement as well.
If you do, I guess that you too have seen the recent rise in the number of share trades per day.
I would be interested in your take on the significance of this recent rise alongside your Technical analysis of SP trends.
Also does the increase in the number of trades also reflect a share volume rise as well?

Is Morocco going the same way as Egypt with NG filling stations. Is this where SDX CNG will go?

TAQA Arabia will invest EGP 3.6 bn to build 180 natgas filling stations between now and 2023, Executive Chairman Khaled Abu Bakr told Kelma Akhira’s Lamees El Hadidi last night.
Qalaa Holdings’ energy distributor was announced last week as a private sector partner that will help expand the country’s network of natgas stations as more gas-fuelled cars and buses take to the roads over the coming years. The company will spend EGP 800 mn to construct 40 stations this year, EGP 1.2 bn on 60 stations in 2022 and EGP 1.6 bn on 80 stations in 2023, Abu Bakr said.
This means that TAQA has taken more than half of the 300 stations the government plans to establish over the next three years.