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I agree a hefty special div may not be great for the long term business prospects but at least it should put some wind up the shorting scumbags!

Although the broker note is biased, they make a compelling case which I agree with.

As a pensioner, yield is king and this is close to 10% now with little prospect of capital depreciation (or appreciation to be fair) and a historically high discount to NAV.

I've exited the last of my bond funds and averaged down here today.

DYOR of course

Over 1m traded and some very large buys, could well be institutional.

All resulting in nearly 10% up on the day (and less than 10% down overall for me!)

This is a rather better find than the previous Moroccan drills. You would expect some positive reaction, but very muted. Any other minnow could be up 20% on this news. Note though, that all those 'sells' are actually buys today. I'm being quoted 4.1245 to buy currently.

Good buying activity, yet the MMs still suppress the price. 11p starting to look aspirational now, what a joke.
Bet they're going to renege on the share buyback too.

A very curious transaction. The only reason to buy at that level would be to stake build to block the deal or counter offer?
As that's 4.5% we should see a holdings RNS and know who's in. We could only muster 3.5% (7m shares) to vote against the chuckle brothers reappointment at the AGM so this buyer is going to need to do some more to build a big enough wedge to successfully block if that's their strategy. If they'd bought in tranches they would surely have got a much better price overall. Most buys going through under 10.6p. They can have my shares for 13p!

221p return of capital, not a commentary on them increasing SDX holding!

That sounds sensible to me, following the discovery.

So I log in today having decided to average down after the excellent gas drill success news of yesterday plus the expansion of oil drilling, fully expecting to be paying 8.2-8.5ish. But what do I see? -5%!
With oil closing back on $120 a price drop of 33% since the lowest covid low. At this level the EV is below zero, i'll leave the actual calc to Luckcounts.
Unbelievable Geoff so I picked up 300K instead of the 100K I was going to. Thanks Mr Newlands I guess.

LSE takes the trade price and compares to the bid/offer spread. This is currently 9.5 to 10 so any trade below 9.75 is shown as a sell and any trade above 9.75 a buy. Actually it is quite common for the real SDX buy price to be lower than the mid of the spread. This has frequently been the case in my own trades. When I want to check the real spread I do dummy buy and sell trades in my broker account. Hence you have to take the 'buy' and 'sell' volumes with a pinch of salt.

Typical SDX share movements.
Since the 6th Jan when the last piece of (positive) news hit, the share price has fallen 12% due to more selling than buying, Meanwhile the price of oil is up more than $6 per barrel, giving a potential $1.1m boost to SDX revenue on an annualised basis - which ought to have added 3.5% to the share price/NAV by my calcs. Conclusion - ignore the noise, the accounts won't lie.

That's right 431K shares, no biggie.
On 6th Jan the full day's trading amounted to 5.1m shares which included some big sells - it wasn't this bunch. I'm still waiting for that RNS, always assuming that they belonged to a notifiable holder.

On level 2 I can see two large buys this afternoon, neither of which LSE has picked up. Don't know why but they don't always get the full data.
14:16:53 238,500 11.00
14:30:33 150,000 11.00

Nice to see some positive news before Xmas. A good start to the campaign, which won't impact 2021 cash, but the more important thing to remember is that the well programme in total consists of 12 wells of which 6-8 are targeted for next year. The success rate in this field is historically very high so we can look forward to some serious cashflow down the line. Still ludicrously cheap at these levels.

Excellent news!
With an opening day in the USA estimated at $122m, that's three times the day 1 takings on 'Far From Home'
Never mind the lies and FUD propagated on this board by the short selling scumbags, follow the money

Bit late to the party to start shorting this now chum.
This company is generating $30m cash per annum at current prices. All it needs is a small shift in the efficiency of how this is used and the investment case improves radically. Debt free companies don't tend to go bankrupt. Why don't you clear off and short something a bit more obvious like Cineworld?
Next year's drilling targets should drastically improve reserves. If we just hit Mohsen in South Disouq that will be enough for a couple of years, never mind anything else.

A nice 500K buy at 14:35, hopefully there will be a few more like this and the MM supply will soon run out so they'll have to up the bid price. Often in the past i've found that dummy orders couldn't be filled because they were short of stock, but not at the moment.

Covid passports is the big change (any venue over 500 seats, which includes part of my local Cineworld). The young are the lowest % vaccinated and also the bulk of the Cine customers so this is a big kick in the proverbials.
Of course, the big money is to be made in USA and we need them to stay open otherwise Superman could be super-screwed

Very frustrating approach, as always. It's market moving information and success could create a buzz around the share, especially as we know the drilling results in Meseda and Morocco tend to a high percentage of commercial hits. Just another reminder that the management don't give a **** about the PIs or the share price. Santa please bring us a hostile takeover - someone must be able to see the value here?!

Interesting to see what these new 'strategic initiatives' will be. Are they finally going to do something to add value to the business instead of the continual value destruction?
The 15 well drilling programme sounds like 100% of 2022 cashflow has already been earmarked for capex, although i'm pleased to see that 6-8 wells are targetting oil in West Gharib that can earn a market rate as opposed to the fixed gas prices.