Sdx Energy Share Discussion Threads

[littlened] 23/6/2022 12:19

This is a merger not a cash take over so SDX shareholders benefit from TNZ assets as well as retaining SDX assets on the conclusion of the deal.Based on the relative market capitalisations at the time the deal was struck TNZ was worth more than SDX,like it or not.Therefore they get the bigger slice of the cake.However our BOD feel that SDX need to be bigger to maximise their assets ,nobody else has yet made an offer,so this is the best they can do.Based on both share prices ,currency conversion, this represents over 25% increase at present with the expectation that newco will thrive as a larger enterprise with more astute management.

[baldguvnor54] 21/6/2022 10:41

Look at the votes cast at the AGM- despite all the "vote the Board off" comments the lowest vote for any director was over 96%- some over 98%. I would be very surprised if Tenaz hadn't got Waha and I&S votes already secured or were getting them secured - and therefore that the deal goes through with a sizeable majority- the two things that could derail is first a counter-offer from somewhere- which could only be good news- or second if Tenaz share price craters (they should have put cash on the table). Without something major happening I think the bid will go through despite all of our misgivings- this stock is effectively controlled by Waha, I&S and R&M

[winnet] 20/6/2022 17:44

What he said.

[littlened] 19/6/2022 22:11

Why wont Shareholders agree ?

[tnt99] 19/6/2022 21:57

Don't think it's likely to be agreed by shareholders but they said it would be put to a vote in July? I think

[dekle] 15/6/2022 18:22

Does anyone know when the completion of the scheme of arrangement will be published and discover if the shares new Tenaz shares will be issued with depositary interests to be delivered, held and settled in CREST?

[tnt99] 15/6/2022 16:23

I'm a doyle so nice to keep it in the family lol

[tnt99] 15/6/2022 16:21

Good post Richard value will out in my opinion what ever happens

[winnet] 14/6/2022 16:23

what % of the production in condensates that get said market rate...

[greenrichard] 14/6/2022 14:52

From littlened on LSE

I attended the AGM this morning and spoke to Mark Reid and Michael Doyle.All are constrained in forward statements due to Takeover Code but here is my take.Tenaz approached SDX but there is no doubt that SD X need a partner to give the business more clout.In Egypt they are small fry with little chance of higher gas prices while costs will increase.They have plenty of prospects but need to be bigger to maximise profitability. Condensates are much higher than expected though and get market prices.In Morocco they are becoming more efficient in drilling with new man in charge and again plenty of prospects.Mark Reid excited about future drilling but he didn’t mention the merger at all.Michael Doyle is Canadian and knows the industry over there.He thinks the whole will be better than the parts !

[winnet] 14/6/2022 14:31

6.17p of cash on a 9p share price!!!!

Christ on a bike!

[ashkv] 14/6/2022 13:51

This firm should be liquidated piece meal...

[ashkv] 14/6/2022 13:51

Brent: $123.00
Share Price: 9.1
Shares Outstanding: 205,378,069
GBPUSD Exch Rate: 1.20
Market Cap GBP: £18,689,404
Market Cap USD: $22,427,285
Debt: $0
Cash (AGM Update - As of 31 May 2022): $15,200,000
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: 113.88%
Short Term / Liquid Assets (Net Cash + Investments + Inventory) as Component of SP: 10.36p
SP if only Cash taken into account (SDX IS DEBT FREE UNTIL EBRD FACILITY DRAWN): 6.17p
Enterprise Value(EV) (Only Subtracting Cash): $7,227,285
Enterprise Value(EV) Sub (Cash+Inventory+Investment): -$3,112,715
Prod Guidance 2022 (3,300 - 3,550 Mid is 3,425): 3,425
Production Up Till 31 May 2022: 3,778
EV/Barrel-USD (Cash) - Mid Guidance: $2,110
EV/Barrel-USD (Cash+Inventory+Inv) Mid Guidance: -$909
EV/Barrel-USD (Cash) - First Actual 5 Months Average Production Till May Endl: $1,913
(Minimal Decommissioning Costs)

[littlened] 14/6/2022 13:36

Yes could well do

[dekle] 14/6/2022 11:20

The good news might attract another interested party?

[winnet] 14/6/2022 10:46

Anyone got any updates from the AGM?

[djj2014] 14/6/2022 08:11

We've got 'strong operational and financial performance ', but the share price is now held down by the proposed sell out.

[haywards26] 13/6/2022 22:58

Why did the board agree to such a low ball offer?

Has there been any discussions with other potential acquirers since Tenaz offer?

What are the significant extra management charges for consulting when the execs are already salaried?

[tnt99] 13/6/2022 22:57

My shares are with Hargreaves Lansdown so as far as I am know I am unable to vote as my shares are in an IsaBut I expect even if the takeover/ merger does take place value will out in the end and it is true that things have been going very well for sdxAnd the merger gives a rough value of 12p And maybe they can renegotiate or cancel their current contracts

[littlened] 13/6/2022 21:50

Pointless voting against CEO as company needs one to continue until merger and this crowd are leaving anyway.
I am going so any questions ?

[alxo82] 13/6/2022 20:26

Voted against all points of the AGM but the merger with a For, Let's see what happens tomorrow, but I couldn't find the point in the AGM announcement, it seems they didn't prepared an updated version. My broker said it was possible to vote anyway though.