Sdx Energy Share Discussion Threads

[tournesol] 04/7/2019 07:12

It's not like everything has gone well operationally but that communication just needs improvement.


Delays, repeated postponements, oil suddenly turning out to be gas, gas sales not materialising, production targets being missed…. Operational failure has been endemic.

The share price decline simply reflects a generalised failure to deliver.

A new CEO will now need to deliver all the stuff that PW didn't but will have to do so in a co that has lost its credibility. That's going to be very difficult.

[tombul] 04/7/2019 01:10

PJJ71,

Dilution Lover, Mr. Pinocchio is selling hotdogs near somewhere at the Times Square of London.

[mutley walters] 03/7/2019 15:34

Surely he must be finished as a director he now joins the list of infamous aim liars and con men. Not quite in Peter Landau of range resources class but on the list for sure At least if he does reappear the investment decisio will be easy

[pjj71] 03/7/2019 14:25

Anyone know which oil company PW is joining next????

[ifthecapfits] 03/7/2019 09:13

Took a bunch more yesterday. Famous last words etc, but this looks to be near as damn it the bottom.Should get a decent bounce once new directors are appointed etc.

[shakeypremis] 02/7/2019 10:16

GreenRichard, yes I saw they went under. I don't know if they were holdings for one or more nominees at City Financial or some sort of fund.

The Interactive Investor holding, as you say, is most definitely nominee holdings and increased very rapidly since the start of the year so likely one or a small handful of HNWs buying shares.

Why no TR1's though?

[greenrichard] 02/7/2019 09:35

City Financial went into administration in March (As part of a deal agreed with Garraway Capital Management LLP on March 21, 2019, these UCITS funds were transferred to Valu-Trac Investment Management Ltd on March 25, 2019. On March 25, 2019, Valu-Trac delegated investment management of these funds to Garraway and the funds were re-named.)


...and Interactive Investor are a nominee for private investors.

[shakeypremis] 02/7/2019 09:16

Haider, doesn't surprise me. As long as it hits gas and a decent flowing amount of it I don't really care to be honest.

TR1's don't get RNS'd here either.

hxxp://tools.morningstar.co.uk/uk/stockreport/default.aspx?tab=5&vw=own&SecurityToken=0P000182NM%5D3%5D0%5DE0WWE%24%24ALL&Id=0P000182NM&ClientFund=0&CurrencyId=BAS

Looks like City Financial Investment Company Ltd built up an investment of 3.3% without notifying and also Interactive Investor built up a holding of 4.56% without notifying either.

[haideralifool] 01/7/2019 17:22

This came as a surprise (from that Edison note) and I don't think it's been covered here before.

"Management now expects Young prospect to be gas rather than oil". Shouldn't this have been RNS'd given how much it had previously been bigged up?

[tournesol] 01/7/2019 12:34

ifthecap

Thanks for that, hadn't seen it

SDX's history suggests that there may well be a more bad news hidden away - profit warnings usually come in clusters.

Past experience leads me to believe when a new CEO does eventually get appointed they will embark on a kitchen sink operation to unearth every bit of dirty laundry hidden away and get it out in the open so they can not be blamed for it

That would likely cause a further retreat in the share price

Only after the bad news is all exposed, there is a convincing plan for moving forward and management resources are in place will the share price have any chance of recovering.

[ifthecapfits] 01/7/2019 10:54

hxxps://www.edisongroup.com/wp-content/uploads/2019/06/SDX-Energy-FY19-management-guidance-reset.pdf

Not sure if this has been seen here.

[shakeypremis] 27/6/2019 09:54

owenga, it's less than that, it's more like 80-120 barrels per day after working interest and government takes.

418 * 0.55 (55% WI) = 230bopd
230 * 0.5 (government take 50% of net production after WI) = 115

Not sure exactly how much the government take but it's around 50%.

[owenga] 26/6/2019 23:01

225 net bopd to SDX. I'm surprised they bothered to RNS it, lol.

[brasso3] 26/6/2019 19:55

It just a waiting game here for SD to come online.

When it does this will double from circa £40m market cap to £80m.

[shakeypremis] 26/6/2019 19:42

Sdx doesn't need to retain money. They have enough to fund drilling an exploration from cashflow. You could argue in Morocco that additional exploration isn't a priority given the low demand for gas but the more gas they find the more valuable their Moroccan business become because even if they *never* increase volumes sold it just means they could supply the current volumes for a longer time. This would increase the price a buyer would have to pay for the Moroccan arm. In South Disouq exploration is most certainly warranted as their is demand and infrastructure there to take multiples of the initial 50mmcf/d SDX will hopefully start producing at *some* point.

[pjj71] 26/6/2019 15:16

Highly cash generative asset base – generating c.US$3.5 million in cash flow per month

why not scale back the explorations and use some to support the rudderless ship I wonder...

[pjj71] 26/6/2019 13:24

its a rudderless ship sinking faster than the titanic... maybe PW was hiding stuff...

[shakeypremis] 26/6/2019 10:34

Naa, this is SDX.

[plentymorefish] 26/6/2019 09:46

It would appear that markets don't give much of an 'uplift' to SPs' anymore when a company has an oil discovery, even at SDX's much reduced current share price of 22p.....you'd have thought it would put on a penny or two?

[pjj71] 26/6/2019 08:26

has woodford got some of this squirreled away ?!? selling pressure is relentless...

[shakeypremis] 26/6/2019 08:18

This will add around 125 barrels per day of entitlement production (after working interest and government cuts). That's over $2m extra revenue per year at $50/barrel. Not a lot but useful. Another well to be drilled in the Rabul area too.

[brasso3] 26/6/2019 07:25

What ever negative things we can say about PW there can be no denying that on the operational front SDX are second to none.

[haideralifool] 26/6/2019 07:20

SDX Energy plc (AIM: SDX), the North Africa focused oil and gas company, is pleased to announce that an oil discovery has been made at its Rabul-7 development well in the West Gharib Concession in Egypt (SDX 50% Working Interest & Joint Operator).

The well was drilled to a total depth of 5,323 feet and encountered approximately 134 feet of net heavy oil pay across the Yusr and Bakr formations, with an average porosity of 18%. The well was completed as a producer, connected to the central processing facilities at Meseda and brought on-line at an average stabilised rate over five days of approximately 415 bbl/d (gross).

The well was brought online in a timely and cost efficient manner and will provide further support to our FY 2019 production guidance for this asset of gross 4,000-4,200 bbl/d. Another development well is planned for the Concession in H2'19.

[shakeypremis] 25/6/2019 11:02

Michael Raynes leaving Waha and SDX.