Member Info for Urraca

Looks like Dan needs to pump even harder to stop this one deflating

Great

Is it now plugged and abandoned for good?

Assuming Rabul 4 comes in with a decent rate, Rabul could be producing around 700bopd. If oil price stays where it is, that's around $6m income a year netback to SDX. I appreciate we need a reserves assessment, but given SDX weren't expecting anything from Rabul 6 months ago, this is a major plus imo. The original plan was to drill Rabul 3&4. We've done 5, which wasn't previously planned. Now we're drilling 4. Are we also going to drill Rab3? If we've got the rig, it would be more efficient, and the quicker we can monetise this, the bigger our cash reserves war chest.

Thanks leap. I can speak only for myself, but I am indeed a wee coward who wouldn't say boo to a goose. You're absolutely spot on. I did however get railroaded out of the civil service for standing up to Gordon Brown over one of his pork barrel stunts, so perhaps I once had an ounce of courage. How about you, old chap? Any tales of reckless courage under fire to share?

Yes, thank you Cosmoss, it was your post that alerted me to this. Unfortunately they still have a very large quantity, so can effectively hold the price hostage for some time to come if they so wish. I would use expletives, but LSE will star them out.

Unfortunately someone is more than happy to sell large quantities of SDX at around 50p. Would a 70p bid persuade most of the institutions? There is a lack of transparancy around what the institutions are doing. The placing RNS last September said Ingalls had taken some, giving a total position for them of 33,847,714 shares, 16.55%. The latest update on investor village (link below) has them at 28,204,758, 13.795%. That means they've offloaded over 5.5m shares. That requires a TR1. But there hasn't been one. The comany itself looks fundamentally strong, but if IIs are mucking about like this in the background, without sticking to their legal obligations to disclose, it is very unsettling. I'm going to ask the comany about it. https://www.investorvillage.com/smbd.asp?mb=16015&mn=700&pt=msg&mid=17703477

Yes I was watching SQZ last year, and chose SDX instead. Huge mistake. Even Ithaca managed to put on 50% before being taken out with a low ball bid. A low ball bid from this level and I'd make as much as if I put this in a bank account.

Sorry, been out. Thanks for digging that out Aim4. That's all the info about it that I'm aware of. It seems more probable that if they get a couple of good strikes on the development drills they may decide to go for one more, to get the volumes up. But you never know, they might have a pop at oil if say they see indications of oil coming up in the earlier drills.

There's still the mysterious fifth 'contingent' drill pencilled in for South Disouq. We don't know what it might be slated to look for - they may have a pop at the oil horizon while they've got the rig there.

Melting down now. Was a good run for those who got in early with Dan, and out on the spike

The drilling is worthwhile long term. In the shorter term though, who knows what it will take to generate some interest. Perhaps for his next youtube appearance PW could appear dangling naked from a helicopter as it swoops over the Shard, with a firework display going off behind. That might catch a little attention. Just hope we get some sort of rerate before I get really old.

It's not so much the cost of shipping with LNG although that's a factor. The cost of the plant to liquify before shipping, then unliquify again at the other end, is pretty immense. Although it is a one-off capital cost, building the plant is expensive. The cost of a pipeline if you can tap gas locally is peanuts in comparison.

I agree takeachance. That's why I think this presents a good buying oppo. Just trying to get a feel for the right entry price. I'm poor at timing entry and exit' and it's something I'm trying to work on.

What PW says in the Rabul 5 RNS is : "We have further drilling activity planned for the concession over the coming months and we firmly believe that these activities will enable us to increase output from the licence and achieve our ambitious production plans for 2018." The ambitious production plans are to double output, and it seems pretty cleat to me that PW is confirming that this is still the plan, and that we are still on course to achieve it. Just my opinion of course on reading this SQ, maybe I have rose tinted specs, but it seemed pretty clear.

Why this sank down to the 60s from Sept last year to Jan this year? Been watching for a while, this looks like a good buying opportunity. Just trying to assess whether its bottomed for now. There's probably a bit if time until it can be seen what sanctions other countries might apply.

Yes, the state cut is painful, but it is what it is. Meseda netbacks are really pretty good I think, if oil price stays around the $65 mark. So its good income generation, and it comes onstream super-quick too. So we'll be making money from Rab 5 probably sometime next month. Next Month! Not years away.

Bitcoin plunging today, and that does seem to affect the sp here a bit. Could do with news though. Dan's "whispers" ain't cutting it any more.

Aim4. december corp presentation, near the bottom of page 3 says this: "Rabul 1 & 2 � discovery in Sept, added an additional 1,000 Bopd (200 net)" So with Rabul 5, that should be at least a 10% uplift in company production rates from Rabul alone.

That's about exactly where I am too AP. And when I say I'm balls deep here, I mean in up to my eyeballs. A big 200k sell just after 3pm, and another just after 4. It's enough to make me dance with rage ffs.