Sdx Energy Share Discussion Threads

[ghhghh] 23/8/2021 15:45

They are forecasting net cash of $34m 2022 YE and $13.8m YE 2021

The big jump is due to reduced 2022 CAPEX

[shakeypremis] 23/8/2021 14:42

Yes, where is the surplus cash going to come from? 4 wells in Morocco and 2 in South Disouq next year. Very similar to this year. Might be able to add some cash to the balance sheet next year along with hopefully something like US$4m added by the end of this year but how much more?

[kaos3] 23/8/2021 14:25

what is the number of the surplus cash given ;)

TIA

[ghhghh] 23/8/2021 14:23

PH note finally out. Reduces PT to 30 from 35p, still a buy.

Surplus cash will fund acquisitions or pay outs to shareholders

[neo26] 23/8/2021 10:19

So who is in charge?Large holder dumping.

[shakeypremis] 22/8/2021 11:09

I would be very surprised to see those two buy any more than a token amount of shares. If they miraculously did decide to purchase a decent amount of shares I would take it as quite a positive move, given that they never buy any shares lol. But don't get your hopes up.

[ride daice] 22/8/2021 10:16

Are they in a closed period ? If not one would expect that the leadership would be filling their boots at these prices ?

[wigwammer] 22/8/2021 09:25

We were told earlier in the year by the FD that they were open to buying back shares. Since then 1) the shares have fallen to all time lows 2) they had a disappointing drill at the biggest prospect, hanut.... Response from management = more drilling!!! ... I understand they need to explore, but just moving 10% of the capex budget to repurchasing shares would let them buy back 10-15% of shares outstanding. I suspect instead - they have in mind paying premium valuation to buy the assets of some other troubled operator, but not a jot to shareholders here. If you have no intention under any circumstances of buying back shares - and the evidence suggests you haven't - then don't mislead people and say it.

[wigwammer] 21/8/2021 12:20

What was the point of this interview?! It's like two 8 year olds telling you all they know about SDX. Its nice cos it doesn't pollute much and we donate hospital equipment. Ffs. Yer shares are at all time lows. What's the plan? If the only plan is drill drill drill then what's the role of these accountants? https://www.brrmedia.co.uk/broadcasts-embed/611f894b0e6e7c49dbb1e273/sdx-energy-h1-results-2021/?popup=true

[shakeypremis] 20/8/2021 21:56

I don't really know what value they really add, especially as neither are oil guys. A company that is performing this poorly (share price wise) should not being paying two accountants so much money.

[neo26] 20/8/2021 19:26

Are Reid and Box a bunch of yes man, why they being paid so much?They admit they have a team in egypt and morocco who deal with day to day, whats there role?

[neo26] 20/8/2021 19:21

So they still planning on drilling.In 20214 wells meseda2 wells morrocco20224 wells morocco4 wells meseda2 wells SD.Reid is no better than Welch, bring back Welch.Didnt mention anything about share price

[shakeypremis] 20/8/2021 17:20

Reid and Box waffling on about more of the same and how great they are doing with ESG. Well fantastic. How about you two help to make shareholders a return on their investment and while you're at it buy some shares in the company you think is so undervalued???

[wigwammer] 20/8/2021 15:53

"Whilst the result of this well is disappointing, I remain positive about the remaining prospectivity in the area which has not been materially impacted. In particular, I am encouraged by the proof of reservoir quality sands in the Qawasim Fm in the South Disouq area as this derisks further close by prospectivity. The Company will now be working towards moving these prospects to drill-ready status for a 2022 campaign and looks forward updating the market on its campaigns in West Gharib and in Morocco in the remainder of the year." ... 90-100 BCF :)

[ghhghh] 20/8/2021 15:38

To answer my own question the PH analyst on hols, back on Monday so should get update then. I just bought a bit more at 11.75p but PH offering the stock.....

Agree SDX looks cheap but directors need to spell out the upside. Looks like corporate

[ghhghh] 20/8/2021 14:28

Peel Hunt stopped covering this? Every previous update produced an immediate bullish PH Note. Nothing this week?

[haywards26] 20/8/2021 13:53

The CEO should hold an investor call/video presentation of the interims and recent exploration activity, presenting their future strategy and aims.

Would be very helpful in improving sentiment and also highlighting SDX to the wider investment community.

[shakeypremis] 20/8/2021 13:48

Investments can't be liabilities. Not really sure what it can be though. Looks like it is listed as a non-current asset and the balance of investments and YE 2020 was US$3.8m. Given it's not a current asset I guess it can't be stock or similar. No idea what it is.

[ashkv] 20/8/2021 13:30

Management we need significant Director Buys, Clarity on cost / benefit / probability of resources/reserves targeted in the remaining 2 Morocco drills for 2021
An updated strategy to add share value...
Why are Morocco drilling costs for relatively shallow wells so high?
Also why do we keep drilling rig at SDX premises and then pay such exorbitant rates?? Why can't SDX purchase their own drilling equipment? And set-up a team?

[neo26] 20/8/2021 13:27

I think one option is a cheeky takeover.Cant for one sec think those top shareholders will be happy.

[shakeypremis] 20/8/2021 12:27

I broadly agree neo26, I just don't see cash building on the balance sheet very quickly when they spend so much on CAPEX every year. I've calculated that they might add say US$4m to the balance sheet by the end of 2020 (although probably won't be in the figures due to some of it being recorded as receivables).

No, they aren't going for the Top Nappe with the deeper drills. I emailed management about that. Top Nappe testing is targeted for 2022.

[neo26] 20/8/2021 12:05

Enough of the reserves finishing in 3 years in egypt if no further finds, from 2023 they will start depleting from 45mmcfd and by 2030 there will be nothing left.Mohsen has 51% cos this will add to reserves in my view.With what sdx generates in cash i think now they will look for an aquisition.They drilling 2 wells in morocco which are deeper, hoping they strike at the top nappe.All is not doom and gloom.

[sian] 20/8/2021 12:03

Shakeypremis

Busted at last!!!

[shakeypremis] 20/8/2021 11:33

They are very unlikely to successfully drill 96bcf given CoS so no point pointing out value of the whole lot and furthermore stop using BoE's SDX SD gas BoEs are not worth the equivalent of an actual barrel of oil.