Member Info for Urraca

It all depends on whether they need to do a placing to complete the deal, and if so, how much and at what price. The deal will make SDX a $1bn company, which is around x6-x7 current market cap. If there is no dilution, this implies the sp will get similar multiples. I'm not sure if there are AIM or TSX rules on the amount of equity a company can issue in one go -there are on the main market. Anyone know? Anyway, any dilution of equity will pro rata dilute the multiplication of the sp. if, like Serica, we can do this without dilution, then I would hope for the same sort of rerate Serica got, but the suspension RNS says admission doc COMMON SHARES OF NO PAR VALUE FULLY PAID (DI) (BYYLJV0) (CA78410A1075), so I am expecting some dilution.

In their last presentation (I think it was their last) SDX estimated their NAV at £1.46. I hope this deal helps to crystallize that value, then add the accretive value of this deal on top.

If JOG even mention Angus or UKOG I will be out immediately

Well at least the market should notice this, unlike our very successful drilling campaign. Shock and Awe, Paul.

Just got in and saw this. Bit of a shocker. I for one hadn't seen any press speculation. The Circle deal as good, and PW hasn't been a dummy wth SDX, so ai hope this pans out. Not sure what it will mean for reserves, but does this mean a ten-fold increase in production from where we are now? So long as it is not matched by a ten fold increase in number of shares in issue, or whatever the proportion is, it should be value added. £1 on resumption of trading?

The big trade this mrnng is a back to back sell and buy. Could even be a b&b into an isa - do they happen that quick? But they cancel each other out, and there's more buying than selling.

The potential low case NPV was estimated using oil prics as they were ver a year ago, so the same calc would produce a higher NPV now. But its the price realised when its being pumped out that really counts. SP currently equals base case, which is already proved, so there's no upside potential from the appraisal drill built in.

I too would like an SP of £10.

The drill schedule was in the 'outlook' bit, poortiming

There we are, Graybird is vindicated. I blinked a bit when I saw it, but lets see where the rig goes when it starts moving. The word 'currently' struck me as giving wriggle room for subsequent revisions to the schedule, although that's nit picking.

Yes I think so. Although technically they don't list until Oct, but brokers seem to be able to clear them in advance. As we are main market listed, this is it for placings for now. Won't be another popping out in a week or so, which I've seen with some AIM shares

Just don't see how that can be possible if Rangfrid is first, and Verbier last. Let's see what they say in the interims.

The LSE platform is wobbling, its been very slow to load this week, if it loads at all. But, and having said that, it's currently showing SDX as blue.

Equinor had West Phoenix contracted for Ragnfrid in June this year, so I think Seadrill can accomodate some slippage. And I think the full Equinor campaign can be accomplished by March next year if the West Phoenix starys moving again fairly soon. I think they're just waiting for that last container of hobnobs to turn up and get stowed away before setting sail.

Be nice Herron. And a further pushback of the drill date must be priced in, to an extent. I'm going to sit tight anyway. The drill will come eventually.

Euclid, are you invested here? Did you get in last week, and you're underwater? Even though you seemed distinctly sceptical even before that. I don't understand where the bile is coming from. Regardless of what anyone says, if ALGW sign a cntract, it shows this model works outside the USA, and therefore more contracts will follow. As a microcap, the market will rerate it when that is demonstrated. The risk here is, can they sign an nvesting nstitution up to this. Not whether some anonymous punter on a BB did or did not buy shares. I'm in in he hopes that they can get contracts signed. Time will tell.

Probably Dick. Can't see how Verbier can be drilled thisbyear, probably pushed back to late Q1 next year. And they can't have lined up an acquisition just to coincide with interim results.

Looking good so far. The big hope is that contract news is very close now. Danny Swick in the UK next week, apparently. What for?

Not a surprise really. It has a clear purpose though, which is good, and Swick is in.

"We are now positioned to accelerate our business development pipe and are excited about the growth prospects of the Group in the near term."

Hoping this means contracts are close.

The price action and sheer volume on Friday do seem to suggest a placing. Which would mean that the rumour that they were approached with an offer of money for a placing was right, but that they declined was wrong. But I imagine that it is fairly costly up front to put a deal together. Their prospectus said they'd be outsourcing the acuarial analysis I think, so they'd have to pay for that. Then lawyers, compliance, rating agencies. Once they get going they'll be generating income to cover these costs, but they might need more funds to kick start it.

If they are raising money to finalise a deal, then this placing might well be a last opportunity to buy shares at this bargain basement price.

We'll see tomorrow. But this isn't a company endlessly placing on the basis of a dribble of oil somewhere. If the deals come, the market cap will adjust drastically. There's a lot of money in the insurance market.

VCB2, don't leave us. Ignore Euclid. I do.