Sdx Energy Share Discussion Threads

[roman2325] 27/9/2024 09:38

Yes, because at the moment SDX have borrowed 3odd and the debt is unsecured, so in order to get security over SDX assets Aleph need to agree to lend them more...

[littlened] 27/9/2024 08:59

But they are lending more money Aleph

[roman2325] 27/9/2024 08:24

I went through the latest annual report last night - check how much was spent on salaries (frightening)

Ned: Aleph for shareholders is very BAD news. The loan has been extended, on the basis Aleph can now take ownership of SDX's assets when they default. And, as mentioned for many months now....Aleph are looking for buyers/partners of these assets....they are not HOPING SDX turn this around and be in a position to pay them back.

When someone says they can't pay you back, you don't lend them more money. We all agree that right?

[neo26] 27/9/2024 07:52

Ned4th sept company inform mkt of new cln but state they will not drawdown further, just last week they negotiate again for additional 500k and now want to drawdown 2m. What changed in space of 2weeks? Where are the results?Sdx only creditor is aleph if sdx cannot pay aleph take it all, dont you get that? They drilled 3 wells in morocco where is the money going? Board are getting paid too much..

[littlened] 27/9/2024 07:25

Aleph who are also shareholders will have carried out a forensic examination of SDX finances and prospects before agreeing to extend and increase the loan facilities.THis has to be good news

[roman2325] 26/9/2024 12:12

Well done Aleph, with the big pay day still to come

[neo26] 26/9/2024 09:16

Only Ned bother so show up, the large investors hav written off their investment. Its almost criminal aleph blocked takeover at 10p.

[winnet] 26/9/2024 09:13

Thanks for your helpful remarks!

let's see if the equity is worthless. I suspect it isn't. There was no panic at the AGM and the BOD seem to have several strategies for funding.

I bought some more last week.

[roman2325] 26/9/2024 09:08

Technically they are insolvent, thats exactly why these terms have been agreed.

There is not a cat in hell's chance of this board turning this around - THEY WILL NOT FIND FUNDING IN THE MARKET.

This loan has been agreed to allow the board to find a job elsewhere.

Your equity will be worthless

[neo26] 26/9/2024 07:44

They planned to increase cln to 6m last month now they increasing by 500k more.They rationing gas in morocco and dont have meaningful profits in egypt.Interims will be out friday or monday. For a whole year they done sweet F All...

[winnet] 26/9/2024 07:22

Comments like "broke" are rather silly. They are not in a strong financial position, but they are not insolvent.

Shall we stop with the silliness Neo?

[neo26] 26/9/2024 06:14

Well increasing loan further and will drawdown further 2m. Do holders see now whats going on.Sdx are broke.

[neo26] 25/9/2024 09:39

The results are out by 30th sept let see, judging by them adjustin the loan one can predict the auditors picked something up and may need more funds.Lets see, not long wait...

[littlened] 25/9/2024 09:30

Neo,It was CFO who said they might drill in Egypt so funds must be available

[neo26] 25/9/2024 07:56

They just dont hav funds to drill in SD. If no one is willing to pay for SD what will they do? They wont be able to pay the massive loan which is almost the size of mkt cap.

[littlened] 24/9/2024 15:31

Some of the partners are also shareholders I think

[roman2325] 24/9/2024 15:13

Thanks Ned - it is appreciated.

Regarding the financiers - these are the lenders who will provide the loans allowing SDX to dig some holes. My scepticism comes from the fact there are very few partners out there, and you (ordinarily) only partner with someone once they have actually found something. You don't just partner in the hope someone might strike it big. I know this sector very well, and with SDX sitting at a peanuts market cap you might aswell just buy the whole company if you are really interested in their acreage (relative to the amount you will need to spend to execute a full drilling program).

First stop is paying back that 20% loan

[winnet] 24/9/2024 13:27

thanks for going and representing us PI's Ned.

[littlened] 24/9/2024 12:49

And they are not 'fire-fighting on all fronts' otherwise they would accept the lowball offer for SD.Maybe they are more confident about the 47Bcf field than they can admit at this point

[littlened] 24/9/2024 12:23

I was the only shareholder present,except for NED.They accept fall in share price as inevitable in small cap oil and gas market while transitioning the company in the absence of specific hard news on progress.The big shareholders are not baling out and even adding(rab Dhu)Secured lending no big deal as they expect to pay Aleph before repayment due.Not sure what you mean by 'financiers' but if you mean for new projects they will be partnering for these

[roman2325] 24/9/2024 11:50

Hi Ned - did no one question why the stock has been cut in half since the last meeting?

Did anyone question who these 'financiers' are....and why they are yet to lend anyting when SDX are still paying 20% to Aleph?

Did anyone question why the Aleph terms were rolled from unsecured to secured?

Find it hard to believe everything was so rosey when they're fire-fighting on all fronts

[neo26] 24/9/2024 08:44

Aleph are supportive with a 20% interest loan. :)

[34adsaddsa] 23/9/2024 23:49

Perhaps just wait for news.

[littlened] 23/9/2024 14:17

A quick take on the AGM last Friday,BOD confident that various initiatives they are taking will prove successful and financing will not be a problem due to support from major shareholders and partners,assuming Aleph loan is rolled over.Delay is for minor tweaking and no big change.Egypt no longer urgent as economic situation there now much more favourable and may even drill more unless prospective buyer makes sensible offer.Aleph is one of the supportive shareholders and not the enemy as some suggest.Generally the atmosphere not indicative of company in trouble ,just share price !
Unless there are specific questions on AGM I will no longer post on this site as it seems pointless

[cat33] 22/9/2024 13:46

Good write up from Jim https://oilman.beehiiv.com/p/oilman-jims-letter-september-22-2024Worth reading