Sdx Energy Share Discussion Threads

[robbiekeane] 26/6/2018 11:19

It's got quite a bit of debt though - $67.2 million. Also, the Group experienced a net loss in the first quarter of 2018 of $10.1 million, including a $6.0 million unrealized loss on derivative commodity contracts. I'd like to see how that looks in the H1 figures.


SDX id debt free, which is why I would stay here as SDX is clearly (in my view) hugely undervalued.

[shakeypremis] 26/6/2018 07:56

Question is, will listing on AIM kill it or will it be allowed to rise?

[neo26] 25/6/2018 22:06

Another Canadian Oil producer joining aim on Friday Transglobe Energy, looking forward to it, mkt cap is only £120m and they produce near 15kboepd, majority oil.



Description of business:
TransGlobe is an independent international upstream oil and gas company with headquarters in Calgary, Canada, whose main business activities consist of the exploration, development and production of crude oil and natural gas liquids. The Company currently has exploration and production operations in the Arab Republic of Egypt and Canada. In Egypt, the Company currently holds a 100% interest in six (6) PSCs: West Gharib, West Bakr, NW Gharib, South Alamein, South Ghazalat and NW Sitra. Canadian operations are in west central Alberta, Canada, where the Company owns production and working interests in certain Cardium light and Mannville liquids-rich gas fields in the Harmattan area. As at 31 December 2017, the Company had 2P reserves of 46 MMboe and average production in Q1 2018 was 14,375 boe/d.



ONLY 72m shares in issue and 40% is owned by directors and II's

15 Sep 2017
18 Sep 2017
2 Feb 2018
3 Feb 2018

Admission Doc

[shakeypremis] 25/6/2018 12:25

TGG, so could well be pretty much all profit then.

[thegreatgeraldo] 25/6/2018 11:20

SDX have said previously that leasing the processing plant will be the main ongoing cost. AIUI, that cost is pretty much fixed, whether it's handling a few dozen bbls of liquid or several hundred bbls a day.

[shakeypremis] 25/6/2018 11:10

An interesting mention in the latest RNS was condensate production of about 600 barrels from South Disouq. Anyone have any idea how much this might be worth to SDX?

I did some very rough calculations based on a barrel price of $60 (no idea if this is what they'll get but it's a price paid for Canadian condensate for example).

600 barrels/day x $60 = $36,000/day gross

Circa 20% economic interest = $36,000/day x 0.2 = $7,200/day

$7,200/day net x 300 days operation per year (conservative I know) = ~$2m revenue per year.

No idea what costs might be on a barrel of condensate produced from a very low cost Egyptian gas well though.

Anyone have any ideas? $2m revenue is pretty meaningless but if it's mostly profit that will be meaningful as the South Disouq wells are only set to make around $10m profit per year net to SDX based on gas sales at $2.65/mscf.

[thegreatgeraldo] 25/6/2018 10:53

South Disouq mainly, with Morocco chipping in a bit

[griffin81] 25/6/2018 10:49

According to the interviews over the last couple of weeks, doubling production is on track from existing discoveries by the end of this year.

[neo26] 25/6/2018 10:15

Plan for year end was 8000boepd, will this still happen?

[haideralifool] 24/6/2018 20:52

The proposed investment in drills seems to be a pretty good use of the company's capital, rather than paying dividends.

[small_holding] 24/6/2018 18:37

plentymore fish
The interview you are referring to was with Malcy

hxxps://www.malcysblog.com/2018/06/core-finance-ceo-interview-paul-welch-of-sdx-energy/

Everything was positive but the no dividend statement was a bit of a shock.

[plentymorefish] 23/6/2018 11:34

In one of the interviews that PW did this week, he was clear that no dividend would be paid, all revenue would go into growing the business so don't think we'll see one any time soon

[napoleon 14th] 23/6/2018 10:55

"OPEC’s Agreement Sends Oil Prices Soaring" is the headline.
Upwards is the trend.....

Might take until next results. We know SDX is a LTBH.
A dividend wouldn't hurt!

[haideralifool] 22/6/2018 20:14

tgg you know you wanted an investor friendly name for the string of pearls? How about Pearl Jam. As in 'jam tomorrow'.

[thegreatgeraldo] 22/6/2018 18:17

Edison did give some useful detail to the Moroccan prospects pre-drill. Another vote forEdison!

[parisv] 22/6/2018 16:28

SDX held a capital markets event yesterday. Hopefully drumming up even more ii interest.

[robbiekeane] 22/6/2018 12:15

To be fair Edison do provide a good analysis of companies they cover. Better (and more detailed) than most imho.

[haideralifool] 22/6/2018 08:15

..well going by all company pronouncements I thought getting customers in Kinetra was a shoo-in. Came as a surprise to me when I saw Edison risking their acquisition and then I realised why.

Perhaps the more sophisticated people already worked that out, but I find them enlightening.

[griffin81] 22/6/2018 08:10

Interesting isn't a word I would use to describe Edison notes...

[haideralifool] 22/6/2018 08:07

Griffin, I think the drlling outlook is still quite vague. There isn't even a timeline for Morocco.

In Egypt they talk about 'drill ready prospects', but nothing more specific than that.

I think non-holders who are happy to join the dots may buy at this stage. I think many others many need more explicit calculations. The next Edison notes should be interesting.

p.s. going by this interview at 4.30 where PW talks about the 5th well.
hxxps://www.malcysblog.com/2018/06/core-finance-ceo-interview-paul-welch-of-sdx-energy/

I'd take any decision to drill the 5th well as a bullish a sign.

Paraphrasing PW, says that if SD 3X comes in much bigger than expectations then they'll drill the 5th, but the development plan at this stage does not require a 5th drill.

[griffin81] 22/6/2018 08:06

I would like to see them go for the extra well in SD also, it would be a very bullish sign and a brilliant way to round of the current campaign

[shakeypremis] 22/6/2018 08:03

I didn't count the drills in Meseda as I was talking about exploratory drills. Yes I did neglect to mention the Ramadan one but SDX aren't expecting anything from that, hopefully they are wrong. So only one exploration well planned so far, which is in SD. I reckon they will do that extra drill though - they've hit 3 out of 4 so far - SD is proving to be a very prospective area.

[griffin81] 22/6/2018 07:29

Shakey, there are actually 4 (possibly 5) drills still to go in 2018:2 x infil drills in Meseda1 x drill currently underway in S. Ramadan1 (possibly 2) in South DisouqThen, the new drilling campaign in Morocco and Egypt for next year outlined yesterday.

[shakeypremis] 21/6/2018 22:15

There is only one drill left! Well, one exploratory drill anyway, which is the final SD drill. PW did mention there was 'probably' something else to come from Rabul and they don't RNS those spuds. Hopefully they'll find something else there too.

[oilandgas1] 21/6/2018 19:29

Sdx is apparently 70% owned by institutional investors already!

Good update, need Drilling success in the next 30-60 days next!