Sdx Energy Share Discussion Threads

[ashkv] 06/1/2022 07:58

THIS IS GREAT NEWS!!!

6 January 2022
SDX ENERGY PLC ("SDX", the "Company" or the "Group")

COMMENCEMENT OF OIL PRODUCTION AT MSD-21 WELL, WEST GHARIB CONCESSION EGYPT
SDX Energy Plc (AIM: SDX), the MENA-focused energy company, is pleased to announce the commencement of oil production at the MSD-21 infill development well on the Meseda field in its West Gharib concession, Egypt (SDX: 50% working interest). MSD-21, which encountered the primary top Asl Formation reservoir at 4,040ft MD (3,251ft TVDSS) and reached 4,740ft TD, after drilling through 62.3ft of good-quality, net oil pay sandstone with an average porosity of 21.3%. The well has now been successfully perforated, tied-in to the existing facilities, and flow tested. It is expected that, post-clean up, the well will achieve a stabilised gross production rate of c.300bbl/d which is in line with pre-drill estimates.

MSD-21 is the first well in a fully-funded, 12-well development campaign at the Meseda and Rabul oil fields in the West Gharib concession, Egyptian Eastern Desert. The development drilling campaign is aiming to grow gross production from current rates of c.2,100bbl/d to c.3,500 - 4,000bbl/d by early 2023.

The rig is now in the process of moving to the next well in the campaign, MSD-25, which is expected to spud by mid-January.
Mark Reid, CEO of SDX, commented:

"We are pleased to get MSD-21 successfully perforated and connected to our infrastructure. The well is now producing and, when it has fully cleaned-up, we expect it to contribute c.300bbl/d of gross oil production. This campaign provides a low-cost, highly beneficial exposure to the oil price and with a netback of US$35/bbl at US$68/bbl Brent in the first nine months of 2021, West Gharib is a very high margin asset in our portfolio. MSD-21 and subsequent wells are expected to significantly boost the production and cashflow from these fields in the coming months and I look forward to updating the market further as the campaign progresses."

About SDX
SDX is an international oil and gas exploration, production, and development company, headquartered in London, United Kingdom, with a principal focus on MENA. In Egypt, SDX has a working interest in two producing assets: a 55% operated interest in the South Disouq gas field in the Nile Delta and a 50% non-operated interest in the West Gharib concession, which is located onshore in the Eastern Desert, adjacent to the Gulf of Suez. In Morocco, SDX has a 75% working interest in four development/production concessions, all situated in the Gharb Basin. The producing assets in Morocco are characterised by attractive gas prices and exceptionally low operating costs. SDX has a strong weighting of fixed price gas assets in its portfolio with low operating costs and attractive margins throughout, providing resilience in a low commodity price environment. SDX's portfolio also includes high impact exploration opportunities in both Egypt and Morocco.

[winnet] 05/1/2022 18:37

tnt99 - had a go at 10p today. Maybe tomorrow. May on flow test results. A break back above 10 hopefully signals the bottom. All the macro stuff looking good.

[tnt99] 23/12/2021 08:51

Great results today and future looks bright expect this to move up considerably from here to 20p plus

[ashkv] 23/12/2021 07:43

Brent - $75.25
SDX Share Price - 9
Shares Outstanding - 205,378,069
GBPUSD Exch Rate - 1.34
Market Cap GBP - £18,484,026
Market Cap USD - $24,768,595
Debt - $0
Cash - $9,800,000
Inventory (2021 Half Year Figures) - $7,640,000
Investments (Egyptian Oil Services Firm per 2021 HY Report) - $4,013,000
Enterprise Value(EV) (Only Subtracting Cash) - $14,968,595
Enterprise Value(EV) Sub (Cash+Inventory+Investment) - $3,315,595
Production Actual Till End Q3 2021 (With addition of 50% Net (150bpd) from 300bpd Gross West Gharib Well) - 6,081 bpd
EV/Barrel-USD (Cash)- $2,462
EV/Barrel-USD (Cash+Inventory+Inv)- $545
(Minimal Decomissioning Costs)

[ashkv] 23/12/2021 07:34

Good on all those that averaged down - ZERO PERCENT CHANCE OF BANKRUPTCY FOR THIS ZERO DEBT FIRM FOR MANY YEARS - AND NOW CLEAR GUIDANCE THAT HIGH MARGIN PRODUCTION IN EGYPT IS SET TO DOUBLE IN 12-15 MONTHS

ABSOLUTELEY NOT TAKEN INTO ACCOUNT IN VALUATION (DESPITE MUPPET MANAGEMENT) - SOMETHING IS AFOOT THOUGH / CHEAP TAKEOVER AT 15-20 OR SIMILAR THAT THIS NEWS WAS BURIED TO JUST PRIOR TO XMAS...

TODAYS'S RNS - 23 DECEMBER

SDX ENERGY PLC ("SDX", the "Company" or the "Group")
COMPLETION OF DRILLING AT MSD-21 WELL, WEST GHARIB CONCESSION EGYPT

SDX Energy Plc (AIM: SDX), the MENA-focused energy company, is pleased to announce the completion of drilling at the MSD-21 infill development well on the Meseda field in its West Gharib concession, Egypt (SDX: 50% working interest). MSD-21 encountered the primary top Asl Formation reservoir at 4,040ft MD (-3,251ft TVDSS) and reached a TD of 4,740ft. The well encountered 62.3ft of good-quality, net oil pay sandstone, with an average porosity of 21.3% in the Asl Formation reservoir. MSD-21 will now be tied-in to the existing facilities and flow tested.

MSD-21 is the first well in a fully-funded, 12-well development campaign on the Meseda and Rabul oil fields in the West Gharib concession, Egyptian Eastern Desert. The development drilling campaign is aimed at growing production from current rates of c. 2,100bbl/d to c. 3,500 - 4,000bbl/d by early 2023.

The rig will now move to the next well in the campaign, MSD-25, which is expected to spud in early to mid-January 2022.
Mark Reid, CEO of SDX, commented:

"The logs from MSD-21 are encouraging and the well will now be connected to our infrastructure and flow tested. We will update the market in the coming weeks on production rates. With YTD Q3 2021 netback of US$35/bbl at US$68/bbl Brent, West Gharib is currently a very high margin asset in our portfolio and MSD-21, and subsequent wells, will boost the production and cashflow from these fields in the coming months. I look forward to updating the market further as the campaign progresses."

About SDX

SDX is an international oil and gas exploration, production, and development company, headquartered in London, United Kingdom, with a principal focus on MENA. In Egypt, SDX has a working interest in two producing assets: a 55% operated interest in the South Disouq gas field in the Nile Delta and a 50% non-operated interest in the West Gharib concession, which is located onshore in the Eastern Desert, adjacent to the Gulf of Suez. In Morocco, SDX has a 75% working interest in four development/production concessions, all situated in the Gharb Basin. The producing assets in Morocco are characterised by attractive gas prices and exceptionally low operating costs. SDX has a strong weighting of fixed price gas assets in its portfolio with low operating costs and attractive margins throughout, providing resilience in a low commodity price environment. SDX's portfolio also includes high impact exploration opportunities in both Egypt and Morocco.

For further information, please see the Company's website at www.sdxenergygroup.com or the Company's filed documents at www.sedar.com.

Competent Persons Statement

In accordance with the guidelines of the AIM Market of the London Stock Exchange, the technical information contained in the announcement has been reviewed and approved by Dr Rob Cook, VP Subsurface of SDX. Dr. Cook has over 25 years of oil and gas industry experience and is the qualified person as defined in the London Stock Exchange's Guidance Note for Mining and Oil and Gas companies. Dr. Cook holds a BSc in Geochemistry and a PhD in Sedimentology from the University of Reading, UK. He is a Chartered Geologist with the Geological Society of London (Geol Soc) and a Certified Professional Geologist (CPG-11983) with the American Institute of Professional Geologists (AIPG).

[pjj71] 15/12/2021 09:27

the widow maker has been a scam from the outset it seems.. the problem when all the IIs leave and the management team knows it can suck the company dry.. i do feel for the bag carriers as 6p comes knocking...

[kaos3] 15/12/2021 06:23

it looks to me they are timing all this (their plan) into the early 1Q next year

all the write offs, sunk costs, infrastructure investments, no news period, increased management ? fees etc....

the usual stuff

[tombul] 14/12/2021 21:57

Blood Suckers(Chair, CEO, CFO and Directors) have been sucking the blood out of shareholders and investors. Class Action Lawsuit will be the last resort to save this company.

[winnet] 14/12/2021 15:09

They will not get away - they will be held to account --- it is a matter of principle... ("US$1.1 million (predominantly internal management time)." - I HAVE NEVER COME ACROSS THIS IN THE 100s of RNS / RESULTS I have reviewed... could it really be they are taking compensation in excess of salary!!!

-----------------

What the hell is going on here I wonder.

[ashkv] 14/12/2021 14:31

Also this "operational issue" with Morocco drilling sounds mighty fishy - this management is motivated by paying excessive costs for these useles unprofitable wells in Morocco rather than returning cash to share-holders... I have been moaning about this share for over a year and should have sold.... another painful and EXPENSIVE lesson...

HOWEVER NOW THE VALUATION IS BEYOND INCREDULOUS AND I HAVE NO ISSUES IN STRONGLY RECOMMENDING THIS SHARE - AS EVEN MILD MALFESEANCE NOT WITHSTANDING THIS SHARE IS RIDICULOUSLY UNDERVALUED - ONLY OUTRIGHT FRAUD WOULD BE A CONCERN!!!

I have calculated Market Cap based on shares outstanding multiplied by share price - as for some bizarre happenstance most websites take time to update accurately..
(Used the following holding RNS which is the last official document I could find with outstanding shares for SDX - )

14 Dec 2021
Brent - $74.75
Share Price - 7
Shares Outstanding - 205,378,069
GBPUSD Exch Rate - 1.32
Market Cap GBP - £14,376,465
Market Cap USD - $18,976,934
Debt - $0
Cash - $9,800,000
Inventory (2021 Half Year Figures) - $7,640,000
Investments (Egyptian Oil Services Firm per 2021 HY Report) - $4,013,000
Enterprise Value(EV) (Only Subtracting Cash) - $9,176,934
Enterprise Value(EV) Sub (Cash+Inventory+Investment) - -$2,476,066
Production Actual Till End Q3 2021 - 5,931
EV/Barrel-USD (Cash) - $1,547
EV/Barrel-USD (Cash+Inventory+Inv) - (NEGATIVE $417)

[winnet] 14/12/2021 10:33

just to add, you cannot buy at 7p...

My broker has just offered me 10k at 7.6

10% spread is out of order. Fluid market please chaps.

[ashkv] 14/12/2021 09:32

Indeed - a close relative is a lawyer and I will file suit against the CEO and CFO for malfeasance and corruption should it be required...

[neo26] 14/12/2021 09:28

Something really fishy here, drilling wont be completed by end of dec they should have informed awhile ago.Char will be drilling in morocco any day now.

[kaos3] 14/12/2021 08:41

and todays RNS is the proof that BOD does it

no real need for todays wording

something is coming our way very soon ... they are trying hard .... and are helped by small amount dumpers ....

we will be rescued at 10p TO ? or what

[ashkv] 14/12/2021 08:34

At 7p Enterprise Value is NEGATIVE -$2,476,066

[ashkv] 14/12/2021 08:33

I have calculated Market Cap based on shares outstanding multiplied by share price - as for some bizarre happenstance most websites take time to update accurately..
(Used the following holding RNS which is the last official document I could find with outstanding shares for SDX - )

14 Dec 2021
Brent - $74.75
Share Price - 7
Shares Outstanding - 205,378,069
GBPUSD Exch Rate - 1.32
Market Cap GBP - £14,376,465
Market Cap USD - $18,976,934
Debt - $0
Cash - $9,800,000
Inventory (2021 Half Year Figures) - $7,640,000
Investments (Egyptian Oil Services Firm per 2021 HY Report) - $4,013,000
Enterprise Value(EV) (Only Subtracting Cash) - $9,176,934
Enterprise Value(EV) Sub (Cash+Inventory+Investment) - -$2,476,066
Production Actual Till End Q3 2021 - 5,931
EV/Barrel-USD (Cash) - $1,547
EV/Barrel-USD (Cash+Inventory+Inv) - (NEGATIVE $417)

[tombul] 13/12/2021 23:47

Class action is the only solution with these blood suckers.

[kaos3] 13/12/2021 18:56

such a drop to this levels cant happen without management being OK with it in such a small Co. so there must be a further plan .... sinister probably

imho

[ashkv] 13/12/2021 15:57

Strange some buys on the down low - two largish (for SDX) buys today as unknown. Cateogrizing as a buy as the price is higher than for the sells..

Date Time Trade Prc Volume Buy/Sell Bid Ask Value
13-Dec-21 14:22:40 8.495 162,500 Unknown* 8.00 8.50 13.80k O
13-Dec-21 13:27:09 8.05 264 Sell* 8.00 8.50 21.25 O
13-Dec-21 13:09:44 8.241 50,000 Sell* 8.00 8.50 4,121 O
13-Dec-21 12:08:33 8.05 30,000 Sell* 8.00 8.50 2,415 O
13-Dec-21 12:08:14 8.05 50,000 Sell* 8.00 8.50 4,025 O
13-Dec-21 12:06:13 8.10 50,000 Sell* 8.00 8.50 4,050 O
13-Dec-21 12:05:45 8.05 50,000 Sell* 8.00 8.50 4,025 O
13-Dec-21 10:25:23 8.14 100,000 Sell* 8.00 8.50 8,140 O
13-Dec-21 09:04:10 8.25 18,000 Unknown* 8.00 8.50 1,485 O

[pjj71] 13/12/2021 14:11

I see the widow maker continues to shred the wealth of the last remaining bag carriers!! the 7's this week????

[ashkv] 13/12/2021 11:04

Analysts target prices are 35p according to Bloomberg Summary with Stifel having a target price of 50p

Below Auctus Research Report on SDX website should help with insight..

hxxps://wp-sdxenergy-2020.s3.eu-west-2.amazonaws.com/media/2021/09/03144304/Auctus-Advisors-LLP-Research-Note-23-Aug-2021.pdf


Other reports are also available on a complimentary basis at SDX investor website..

hxxps://www.sdxenergygroup.com/investors/analysts/