Sdx Energy Share Discussion Threads

[danieldanj] 23/7/2018 08:13

Watch SDX Energy (SDX) closely on new gas discovery

[11_percent] 23/7/2018 07:34

"As demonstrated by the Ibn Yunus discovery earlier this year, the Kafr el Sheik horizon is an excellent quality productive sequence.  The SD-3X discovery has confirmed that this horizon is extensively present throughout the concession."

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Looks like the SD reservoir is large....but I guess we knew this.

[saucepan] 23/7/2018 07:34

Excellent news to start the week.

[11_percent] 23/7/2018 07:32

23 July 2018
SDX ENERGY INC.
 
("SDX" or the "Company")
 
Gas discovery at SD-3X well, Egypt
 
SDX Energy Inc. (TSXV, AIM: SDX), the North Africa focused oil and gas company, is pleased to announce that a gas discovery has been made at its SD-3X well in the South Disouq Concession, Egypt (SDX 55% working interest and operator).
 
The SD-3X well was drilled to a total depth of 7,842 feet and encountered 32.6 feet of net conventional natural gas pay in the Abu Madi and Kafr el Sheik horizons, with an average porosity in the pay sections of 21.7%.  
 
The SD-3X well will now be completed as a producer in the Abu Madi horizon and then tested after the drilling rig has moved off location.  In order to optimise the potential recovery from the SD-3X well, the Abu Madi horizon will be completed and produced initially before re-entering the well to complete and produce the Kafr el Sheik horizon. The Abu Madi testing is anticipated to commence between 30 and 45 days after the rig departs, depending on the availability of testing equipment.  Assuming a successful test in the Abu Madi, it is anticipated that the well will be connected to the infrastructure located adjacent to the original SD-1X discovery, where production start-up is anticipated late in the 4th quarter of 2018. 
 
Paul Welch, President and CEO of SDX, commented:
 
"The discovery of gas in both the Abu Madi and Kafr el Sheik horizons is a very positive outcome for the SD-3X well.  As demonstrated by the Ibn Yunus discovery earlier this year, the Kafr el Sheik horizon is an excellent quality productive sequence.  The SD-3X discovery has confirmed that this horizon is extensively present throughout the concession.
 
We will now analyse the data from all four wells drilled in the South Disouq campaign, as well as reprocessing and inverting the existing 3D seismic we have on the concession.  Upon interpretation of this data, and completion of the new 3D survey later this year, we expect to identify further Abu Madi and Kafr el Sheik prospectivity for drilling in 2019 and 2020. 
 
With our drilling activities completed, we will now focus on the completion of the South Disouq processing facility and pipeline infrastructure with a view to achieving first production by the end of 2018."
 

[neo26] 19/7/2018 16:40

so they have renav of 115.4p/share and sdx has recently said they believe renav to be over 140p/share.

Interesting times at sdx, final final at sd should be completed soon, maybe tomorrow.

[haideralifool] 19/7/2018 14:52

Perhaps the delayed revenues accounted for the EBRD funding?

Still I also accept PWs spin that it's a blue chip financier and having them around may reassure new investors.

[tournesol] 19/7/2018 11:58

Potential

do you read other people's posts?

[potential] 19/7/2018 10:29

tick tock...will be flying around pound mark in the coming months, there is no doubt :-)

[potential] 19/7/2018 10:26

Energy new research report issued today from Progressive Equity Research with a target price (ReNAV) of 115.4p per share, almost 100% upside on the current share price of 59p!!

[tournesol] 19/7/2018 10:23

I like the increase in RENAV reflected in the Progressive Equity note.

I am concerned that they go on to say they are reducing their forecast for 2018 net income by 50% - from $38 million to $19 million because the start of production at South Disouq has slipped 6 months.

Long term that is just a minor timing adjustment but short term it could spook investors into selling. I suppose if so that will give the rest of us an opportunity.

[robbiekeane] 19/7/2018 10:12

Very good note - thanks for bringing it to our attention G81

[griffin81] 19/7/2018 08:51

There is a new research report out today from Progressive Equity Research with a ReNAV target price of 115.4phttps://bdadvanced.ipreo.com/OpenFileLink.aspx?ID1=6ab80e77-9eb8-48f6-8685-1bed972fe173&ID2=507769760

[danieldanj] 18/7/2018 12:39

SDX Energy (SDX) News Out Just Now

[griffin81] 18/7/2018 11:52

Based on previous drill times, we could well be due another result this week.

[thegreatgeraldo] 18/7/2018 09:30

Handy to have in the back pocket if the current 3D shoot throws up a load more drilling targets

[potential] 18/7/2018 09:21

Excellent news - this is heading one way and only one way and we all know it!! Enjoy the ride ...

[yasrub] 18/7/2018 07:46

Hi Tournesol I hope that is the case and as already mentioned preferable to further dilution.

[ifthecapfits] 18/7/2018 07:45

So, Will we rise 10%

[tournesol] 18/7/2018 07:40

It's a pretty small loan. I'm guessing its an opportunistic thing and that the interest rate is very favourable?

[yasrub] 18/7/2018 07:30

I had assumed SDX would be 'self financing' for at least another year. I realise there were legacy issues with collection of Egypt related debt but past presentations have conveyed confidence and local connections as in hand. This is highlighted for Morocco but is anyone else not a little surprised ?

[brasso3] 18/7/2018 07:23

Maybe they need to use their cash pile for an acquisition?

[darola] 18/7/2018 07:17

I view this credit agreement as great news. It basically means SDX intend to develop and grow through gearing and not dilution. Very happy with that.

[tournesol] 18/7/2018 07:15

RNS says its just a bank loan.

Clearly the French article was using language rather loosely.