Member Info for tigris72poo

"I just bought 10000 shares at 27p and it appears as a sell."

I just don't understand the fascination and the attention paid to whether a trade is classified as a buy or a sell. You bought 10,000 shares so obviously somebody sold it to you. An algorithm or formula decides to call it either a BUY or a SELL depending on what the bid and ask were at the time. What difference does that make?

Stop wasting your time thinking about what a trade is called. Every trade is BOTH A BUY AND A SELL or it wouldn't take place. The only things that matter are :
!1) The Fundamentals. Is the company increasing production, reserves and free cash flow?
(2) The Valuation. Does the price reflect the fundamentals?
(3) Price Momentum. Whether trades are classified as buys or sells, is the stock moving up or down?

Out I say! Throw the Datuk out, distribute the cash and shares of Hibiscus and liquidate the rest of the garbage in the portfolio.

Out damned spot! Out I say.

Throw the bums out. The Datuk didn't get the votes.

2019 was an "annus horribilis" for SDX indeed. Lets's hope 2020 will bring us some Joy starting with good exploration results in Morocco and then Egypt and with sustained gas demand increases in Kenitra.
Ah yes, and no more surprises like the leaked BP asset purchase folly....

Happy New Year!

"down nearly 8%in a week on nothing not even a million shares sold,bloody joke"

The bloody joke is that SDX delisted from Canada because there was not enough investor interest in North America! So where is all the enthusiasm you Brits were supposed to harbor for North African E&P plays?

Happy Boxing Day!

"it appears that if we stick to plan, even with no increases, we should have a minimum of $40m cash in 12 months time"

You better check your math Daft. We are probably going to exit 2019 with about $8 million in cash and are not likely to generate a lot of Free Cash Flow in 2020 after capex and corporate overhead. You are too optimistic.

Sarah,
"Connecting it to the Maghreb-Europe pipeline also implies that they'll send some of that imported gas in to Europe possibly. Why else would you connect it?"

You don't believe everything you read in the Arb press, do you?

Shakey, the description of the LNG terminal seems to imply that it is for importing LNG and re-gasifying it - not the much more expensive liquifaction facility that would be required for export. I quote from the article:

"The Moroccan LNG project is part of efforts to diversify the country’s energy mix and autonomy. The project includes two new combined-cycle gas turbine power plants, each with a capacity of 1200 MW, an LNG terminal and onshore regasification unit at the Port of Jorf Lasfar as well as pipelines connecting the terminal to the Maghreb-Europe pipeline.

The gas terminal will have a storage capacity of 5 billion cubic meters of LNG per year, a fitted marine jetty, regasification plants and high-pressure gas transmission pipes.

Morocco, which imports most of its energy needs, seeks to reduce its dependency on imported fossil fuels, with plans aimed at bringing the share of LNG to 13 pc of its energy mix by 2025 and generating over 50 percent of its energy from renewables by 2030."

Keep in mind that Cash flow from SD gas sales won't hit the Flow of Funds Statement and B/S until about 90 days after production starts flowing. Thus, the impact won't be visible until 2Q20 which doesn't get reported until late August '20. But we should have some exploration results to cheer about by then and I hope some evidence of increasing gas sales in Morocco.

More patience is required.

The only things I will be watching when they report on Friday will be:
1. The cash on the B/S
2. Any signs that demand for gas in Morocco is picking up.
Longer term of course I will await the results of the exploration programs in Egypt and Morocco and the buildup of CF from SD. Watching the tape is a complete waste of time.

who in earth sells £32 worth of shares????

Who on earth bothers to watch these trades ?????

I expect news on SD startup in the next two weeks. The target date was mid November.

We know that the mid-November target for first gas at SD had a built in 8 week contingency for delays. The CPF was about a month late arriving in Egypt so we ate through about half of the cushion. Assuming there were no further delays in assembly and testing, one could expect that first gas would be announced any day now, no? The compressor shipped from Houston was also late but that is not necessary for a few months because the wells will have enough pressure when initially put on production. So it is reasonable to expect some NR soon.

"Why isn't Mark out doing interviews with Proactive Investors etc to broadcast starting the drilling campaign and first gas at SD before year end ?"

Maybe because Proactive Investors, Malcy etc have no credibility because everyone knows they are trained parrots who just repeat company propaganda. That's what got us into this mess in the first place, no?

Actions and results speak louder than words. The market wants to see production, reserves and FCF growth. That's the only thing that matters.

I meant that the LM wells never succeeded in flow TESTING gas, not producing (you don't need pipelines to test a gas well). And yet, PW touted them as successes which I thought was stretching the truth. Just because the logs look good doesn't mean much unless you can flow gas to the surface in commercial quantities. Now it looks like the wells are so damaged we can't go back in and try to test them with better completion methods but we have to twin them - essentially drill a new well nearby. Which means that those two 2018 LM wells will be plugged and abandoned.

my understanding is they are drilling new wells at LM with a better rig and better completion technology and not reentering the old wells (which PW counted as successful in what I thought was overly optimistic for wells that never flowed).

also quite likely they would get a six month extension if they show the Egyptians a plan to drill

"according to the q1 update, the SD license will expire in march 2020. Is that true?"

True. They need to drill one to three wells to hold the acreage. They have identified several prospects but they need to get their partner to agree on the drilling program. That's where the delay in getting the CF from SD is putting a squeeze on us.

Another brilliant investment by the Datuk....I see BLK-ASX trading at 1 c down from 50 c in 2017. These idiots are DESTROYING value every day they stay in control. What are they carrying this at in their NAV?