Sdx Energy Share Discussion Threads

[kaos3] 25/5/2022 08:09

and they even did not RNSed or halted or anything ....

[kaos3] 25/5/2022 07:23

Tenaz share graph says it all about them. And what size they achieved in their years of existance.

[ppceh] 25/5/2022 07:16

Paper bid at 28% premium

[tnt99] 20/5/2022 07:27

Buy back of shares due to start soon should account for 20 percent of the existing shares at this level Then a takeover by a larger player and handsome rewards for the boss That's what I'm expectingShould be over 20p a share by that pointTime will tell

[buffythebuffoon] 19/5/2022 09:07

“ but having spent so much effort moaning and groaning about this share I am not behaving logically and dumping it as so so undervalued...”;

Some would say you are behaving logically. I was going to say you just need to hold your nose and sit on your hands, but you wouldn’t have enough.

Buffy

[ashkv] 19/5/2022 08:16

Severely undervalued - a lackluster / smug / under-achieving management that doesn't buy its own shares has weighed on this firm - but even so it is still severely undervalued... Would triple or quadruple if the inept Senior Management were booted.. I suppose the share price would likely even go up nicely if some decent Director buys...

I should have sold a long time ago - as have had a great run... but having spent so much effort moaning and groaning about this share I am not behaving logically and dumping it as so so undervalued...

[ashkv] 19/5/2022 08:15

At 8.1p and GBPUSD 1.235 Zero Debt firm SDX has a negative Enterprise Value if one takes into account Inventory and Investments (relatively liquid assets) - Insane...

Brent: $110.50
Share Price: 8.1
Shares Outstanding: 205,378,069
GBPUSD Exch Rate: 1.235
Market Cap GBP: £16,635,624
Market Cap USD: $20,544,995
Debt: $0
Cash (1 Feb 2022 Operational Update): $10,600,000
Inventory (From 2021 Full Year Results): $6,747,000
Investments (Egyptian Oil Services Firm per 2021 FY Results): $3,593,000
Short Term / Liquid Assets (Net Cash + Investments + Inventory) as % of Market Cap: 101.92%
Short Term / Liquid Assets (Net Cash + Investments + Inventory) as Component of SP: 8.26p
SP if only Cash taken into account (SDX IS DEBT FREE): 4.18p
Enterprise Value(EV) (Only Subtracting Cash): $9,944,995
Enterprise Value(EV) Sub (Cash+Inventory+Investment): -$395,005
Prod Guidance 2022 (3,300 - 3,550 Mid is 3,425): 3,425
EV/Barrel-USD (Cash): $2,904
EV/Barrel-USD (Cash+Inventory+Inv): -$115
(Minimal Decommissioning Costs)
* Figures are from Official London Stock Exchange Website - given other sources having erroneous/inconsistent data.

[ppvn] 18/5/2022 13:15

Surprised this one hasn't yet attracted more attention to be honest. Lots of newsflow out and $3mm buyback commencing in H2 - roughly $1mm traded per month at the moment.

Anyway got a few as cash flow will hopefully be good judging by oil prices anyway - in addition to the buyback.

[ashkv] 12/5/2022 11:21

At 8p trading at negative Enterprise Value - taking into account inventory and investments (relatively liquid assets).

Brent: $105.00
Share Price: 8
Shares Outstanding: 205,378,069
GBPUSD Exch Rate: 1.22
Market Cap GBP: £16,430,246
Market Cap USD: $20,044,900
Debt: $0
Cash (1 Feb 2022 Operational Update): $10,600,000
Inventory (2021 Full Year Figures): $6,747,000
Investments (Egyptian Oil Services Firm per 2021 FY Report): $3,593,000
Short Term / Liquid Assets (Net Cash + Investments + Inventory) as % of Market Cap: 104.47%
Short Term / Liquid Assets (Net Cash + Investments + Inventory) as Component of SP: 8.36p
SP if only Cash taken into account (SDX IS DEBT FREE): 4.23p
Enterprise Value(EV) (Only Subtracting Cash): $9,444,900
Enterprise Value(EV) Sub (Cash+Inventory+Investment): -$895,100
Prod Guidance 2022 (3,300 - 3,550 Mid is 3,425): 3,425
EV/Barrel-USD (Cash): $2,758
EV/Barrel-USD (Cash+Inventory+Inv): -$261
(Minimal Decommissioning Costs)
* Figures are from Official London Stock Exchange Website - given other sources having erroneous/inconsistent data.

[djj2014] 10/5/2022 07:42

RNS out but I can't see it on ADVFN yet. David Mitchell to retire. AGM on 14th June.

[tnt99] 10/5/2022 07:14

Buy back will be starting soon at these ridiculous prices they can buy back 20 per cent of the sharesIn circulation or 20 per cent of the company then must be a takeover target at the sky high gas prices of today

[ashkv] 09/5/2022 09:01

Bizarre Share - Just wallows in the depths inspite of positive news and trading near cash/short term asset value.

Management really do need to buy some shares - also SDX would benefit from updates as to cash, West Gharib production etc.

[ashkv] 09/5/2022 08:58

With GBPUSD Exchange Rate nearing 1.225 SDX has 0 value attributed to any business - trading pretty much at cash :) What a bargain opportunity...

Brent: $111.50
Share Price: 8.5
Shares Outstanding: 205,378,069
GBPUSD Exch Rate: 1.2275
Market Cap GBP: £17,457,136
Market Cap USD: $21,428,634
Debt: $0
Cash (1 Feb 2022 Operational Update): $10,600,000
Inventory (2021 Full Year Figures): $6,747,000
Investments (Egyptian Oil Services Firm per 2021 FY Report): $3,593,000
Short Term / Liquid Assets (Net Cash + Investments + Inentory) as % of Market Cap: 97.72%
Short Term / Liquid Assets (Net Cash + Investments + Inentory) as Component of SP: 8.31p
SP if only Cash taken into account (SDX IS DEBT FREE): 4.20p
Enterprise Value(EV) (Only Subtracting Cash): $10,828,634
Enterprise Value(EV) Sub (Cash+Inventory+Investment): $488,634
Prod Guidance 2022 (3,300 - 3,550 Mid is 3,425): 3,425
EV/Barrel-USD (Cash): $3,162
EV/Barrel-USD (Cash+Inventory+Inv): $143
(Minimal Decommissioning Costs)
Figures are from Official London Stock Exchange Website - given other sources having erroneous/inconsistent data.

[tnt99] 05/5/2022 07:21

2 more new wells to tie in further to this announcement should boost the profits at a time of record gas prices in Europe which can only go higher if Russia turns the taps off

[winnet] 03/5/2022 19:20

wigwammer - yes, i never really understood waiting until H2 to initiate the buyback.

Agreed.

[ashkv] 03/5/2022 13:53

With the GBP recently free falling versus the USD and given SDX earns in USD - Short Term Liquid Assets for this Zero Debt firm with negligible decommissioning costs is 8.16p in terms of share price.

Per analysts just the West Gharib production Crude oil production is worth $30mn with conservative production and oil price estimates - not to mention SDX sold 1/3 of South Disouq which gave a mtm value of 6.5p of share price component prior to to the two recent drills that have increased South Disouq life by 2 years or more...

Brent: $106.50
Share Price: 9
Shares Outstanding: 205,378,069
GBPUSD Exch Rate: 1.25
Market Cap GBP: £18,484,026
Market Cap USD: $23,105,033
Debt: $0
Cash (1 Feb 2022 Operational Update): $10,600,000
Inventory (2021 Full Year Figures): $6,747,000
Investments (Egyptian Oil Services Firm per 2021 FY Report): $3,593,000
Short Term / Liquid Assets (Net Cash + Investments + Inentory) as % of Market Cap: 90.63%
Short Term / Liquid Assets (Net Cash + Investments + Inentory) as Component of SP: 8.16p
Enterprise Value(EV) (Only Subtracting Cash): $12,505,033
Enterprise Value(EV) Sub (Cash+Inventory+Investment): $2,165,033
Prod Guidance 2022 (3,300 - 3,550 Mid is 3,425): 3,425
EV/Barrel-USD (Cash): $3,651
EV/Barrel-USD (Cash+Inventory+Inv): $632
SP if only Cash taken into account (SDX IS DEBT FREE): 4.13
SP if only Cash, Liquid Inventory & Investments taken into account: 8.16
(Minimal Decommissioning Costs)

[wigwammer] 03/5/2022 12:42

Management inherited assets that generate cash flow. It's not hard to then spend that cash flow. Why on earth management took an additional $1.6m for themselves last year remains entirely unresolved. Little wonder the shares don't react to good news, when there is so little confidence about who this business is being managed for. If they believe it is managed for shareholders, why have management purchased b*gger all shares at the all time lows..

[goblin99] 03/5/2022 12:25

Financial prudence in terms of fcf management and without the need to dilute. One can argue with the expenditure of cash on exploration wells - the proof is in the pudding if they are able to bring commercial finds online at minimal cost and timescale. Number of shares in issue shows the historical trend. At least SDX don't have the standard continual cash raise with 1 billion plus shares in issue

[tnt99] 03/5/2022 12:08

In my view sdx is a no brainer at these levels expect it to multi bag or be taken over by a bigger player the need for their product has never been so high and the price of gas reflects thisHigher production at the right time

[wigwammer] 03/5/2022 11:58

Financial prudence??? Did anyone ever find out why management paid themselves this additional $1.6m last year... "US$1.6 million relates to ongoing new venture activity (predominantly internal management time)."

[goblin99] 03/5/2022 11:50

As frustrating as management are, one can not argue with their drilling success and financial prudence with lack of debt. There are not many junior oilers that can boast a similar position. I invested in SQZ in the early days, where many bemoaned the poor management - the share price dropped below 10p and it was all doom and gloom. Yes, a different proposition, and fortunate that they were given the offload from BP. Patience is the key here, and for me, tat this price level, SDX represents very good value

[winnet] 03/5/2022 07:27

Yes, feeling a lot more positive about my investment here. A good result

[tnt99] 03/5/2022 07:17

Make that 4 discoveries out of 3 drills with the extra 9ft shallow discovery with a tie in expected to be completed in July woo woo!

[winnet] 02/5/2022 10:34

I agree with you, re divi, but what's done is done. It's happening whether you or I like it or not.

The 25% of equity @8p is quite a lot. Looking down the list, and ignoring Waha, who don't seem to be moving much...

Ingalls and Snyder 9.28%
River and Mercantile 9.01%
Transact 5.36%
Highclere International Investors 4.64%
Nikos Monoyios 4.36%

That's about 35% of equity. So for the buyback to take a nominal 25% [albiet it will be much higher figure than that in reality), they'd all want to reduce.

I mean, i know Boxy and Reid are a pair of clowns, but would all of them want out? Really? Surly they have done a few boozy lunches since they took over? [Or perhaps they have and thats the reason we're all concerned!]

My guess, and i'm bookmarking this post, is that if all goes moderately well in the field this will bag to IRO 20 by year end. Just my guess.

More if we can get rid of management [unlikly given shareholding profile]

[haideralifool] 02/5/2022 10:20

winnet

It all depends on the plans of the IIs and cynically speaking any discussions they have had with SDX.

If any of them want to get out, all the share buyback does is to enable them to do that (by providing the liquidity) without trashing the share price still further. Of course the number of shares in issue falls, enhancing future metrics, but that's a longer term story.

The same £3m could be used to offer shareholders e.g. 1.5p dividend (18% yield at the current s.p.). Or even the guarantee of a 1p dividend for the next two years.

I'd argue this gives existing shareholders a reason to stay and new ones to buy.