Member Info for workover

Why so OHSSE?

Please explain logic ?

It could mean that we are struggling with debt finance or BP are playing hardball .

I’m disappointed that SDX haven’t given guidance on when this document will be ready ! I will be liquidating other stocks to top up if the deal is good !

When this document is likely to be published ? Sleepy now zzzzzzzzzzzzzz

Pipe dragger I’m hoping that 10% is the minimum we can expect! A case of under promise and over achieve...

Big smoke You don’t dump 35 million shares at 38 p if you still want to hold long term !

Slight understatement.. lol oil above $85 now!!! Nigeria strikes !!! https://oilprice.com/Latest-Energy-News/World-News/Oil-Workers-Join-Nigeria-Strike-Fuel-Supply-Under-Threat.html

This was tweeted 1 hour ago from Soco International “TGT well drilled on time within budget, rig off contract preparations for perforating underway.”

I think £2 would now be laughed out of the building ! £2.25-2.5 would be a starting point but even that undervalues the company ! We could reach those price points based on ongoing wells by Q1 2019! Without a takeover !!!

SOCO was valued at over £3.0/ share !!! The shares have been hammered based on reserves reduction and declining Vietnam production! Most peers have trebled in the past 12 months whereas Soco hasn’t benefited from the increase in the oil price ! This should be above £2 if the oil price stabilises around these levels !

I don’t know ... I think it must have been spread around the market ... or the purchaser would have to declare if certain thresholds were crossed Question is : do they plan to dump remaining 34 million?

Yes with the oil price increasing , hoping to return to the more substantial dividends of previous years ! I was discussing Soco with someone recently and they pointed out the over reliance on Vietnam as the One reason he wouldn’t invest! Now that we have diversified, that will entice new investors

They’ve just announced that they’ve sold around 35 million shares or 5% of the company! It explains the big volume days last week! They have another 4.7% remaining! I believe they want out

Seven From memory the returns I received from the company are as follows 2013- 40p 2014- 22p 2015- 10p 2016- 5p 2017- 5p 2018- 5.25 Give or take a penny here or there

Fully agree with you Seven ! I also hold shares in SDX ENERGY and they seem to think there is a lot of consolidation opportunities in Egypt! In fact they are in the process of buying assets from BP EGYPT. I hope we can secure another acquisition in Egypt or (preferably) overseas for diversification!

I bought a while back and have been using these as a nice dividend income every summer. It’s not a bad company but the market he unfairly punished it due to declining Vietnam production! It’s amazing value at these prices ... I agree the Egypt deal could be the change in growth we have been waiting for ... I have already made nearly £1 in dividends since I originally bought and I’m happy to continue to hold these as a regular dividend income.

Fully agree Mhow Not overly concerned ! Don’t think anything untoward! However the Additional shares coming into the market might affect Buys Vs Sells and general market dynamics! On the day he sold the shares hit 16.x p !!!!! Initially it was difficult to explain but when the RNS came out, it became crystal clear!

Been doing a bit more research and noticed that this Guy had a substantial holding last year and has been reduced partially by dilutions and also by selling some shares earlier this year and late last year ... hmmm Could’ve sold out completely by now ... we won’t be able to find out ! Share price looks stable but I’d prefer if it was in the 20s again

I agree Ross 0.5% is neither here or there ! My point is he might be wanting to liquidate the remaining 2.95%! We will never know ! As it is below the reportable threshold! He may have already reduced further ... Anyway 0.5% was enough to cause the SP to drop on the day of the sale and explains the erratic trading and strange market dynamics Onwards and upwards Good luck all

When did the additional shares get added ? If it was subscription shares, it was months ago ?

Down from 3.45% to 2.95% Explains the recent drop and recent wild swings in SP. Good luck to him if he made a decent profit from 15p Onwards and upward

Appreciate the feedback and alleviation of the decommissioning concerns I’ll do more research and read again the company statements