theprior
22 Aug 2019
SDX - South Disouq Predicted Timetable Despite the clear leak yesterday the so continues to move north. Whether it will fully recover to previous highs is debatable, but it’s looking promising TP
Small_Holding
22 Aug 2019
SDX - South Disouq Predicted Timetable Just a further couple of points to make Despite all the doom and gloom surrounding SDX for the past year, it is now two years since they last raised funds by issuing equity ($10m in September 2017 to institutional investors). Since then they have been self funding, including the development of South Disouq. They still only have 205m shares in issue. Once South Disouq is generating cash it is unlikely that SDX will need to raise cash through equity unless they were considering a significant acquisition
Small_Holding
22 Aug 2019
SDX - South Disouq Predicted Timetable Good news that South Disouq is still on track “Development of the South Disouq CPF, pipeline and well tie-ins continued during H1 2019, with the 12†export line to the Egyptian national grid now 100% completed and tested, alongside three of the four 6" flowlines from the discovery wells to the CPF. The CPF and the compressor both passed factory acceptance tests and the CPF has cleared Customs in Alexandria and is en route to site at South Disouq. The installation and hook-up of the CPF is scheduled to commence later in August and production is expected to start up in Q4 2019. After a ramp up phase, an initial gross plateau production rate of c.50 MMscfe/d of conventional natural gas is being targeted" The original timeline for Hook up & Installation was Wed 14th August to 11th September 2019. With the CPF on route to Egypt and the hook up due to start later in August it looks like only around 2 weeks of their 8 week contingency have so far been used. At this stage in the development I think that is very good. The big thing for me from the results are that having spent a lot on getting South Disouq through this development stage they still have US$11m in cash, more than some were predicting. Yesterday showed that the share price can move quickily and as South Disouq gets ever nearer we will hopefully see more interest in the company.
Small_Holding
21 Aug 2019
SDX - How low can we go? Whilst it will be interesting to see the 2019 Half Year Financial and Operating Results in a week’s time, all eyes will be on the accompanying Operational Update to see how South Disouq is progressing. As we have been told nothing to the contrary I would expect the original timeline is still in place. Very good to finally see a bit of interest in the shares after such a long period in the doldrums.
theprior
21 Aug 2019
SDX - How low can we go? Somethings afoot. Up to 19p now +16%. No new news. Peeps suddenly realising the potential here at these levels? TP
Small_Holding
16 Aug 2019
SDX - How low can we go? A new record low gives a market cap of £33.52m or $40.6m actually now below the 2018 netback figure of US$41.7m. Still total silence from the company with their last tweet July 7th 2019, the CPF should have arrived on site by now. Another company might have tweeted a picture of the CPF as it arrived at the site but I doubt we will get anything from SDX.
Small_Holding
01 Aug 2019
SDX - South Disouq Predicted Timetable We will get the Half Year Financial and Operating Results around the 28th August 2019. A further update on South Disouq should follow and if there have not been any delays the CPF should have arrived on site. If it arrives on time, or close to it, the rest of the timelines are within SDX’s control, Hook up and Installation, Testing and Commissioning and finally the Site Acceptance Test. The next update should give us a fairly accurate idea of when SD will finally go live. Things have been very quiet and it seems they are just knuckling down and getting on with it. No news on a new CEO, is the appointment being deliberately delayed until SD is up and running? The good thing seems to be they aren’t spending money and I hope this continues. It has been a very painful period for investors but hopefully we are getting closer to the point where production doubles and the share price more closely reflects the strong fundamentals. Despite all the conspiracy theories nothing untoward has happened thus far.
Small_Holding
23 Jul 2019
SDX - How low can we go? The market cap has already fallen below 2018 revenues and is now getting close to the 2018 netback figure. 2018 Netback US$41.7m Current market cap £36.4m or US$45.2m
Ripley94
19 Jul 2019
SDX – M&A activity SDX… XXXX Trying to top up for weeks @ 18.5p lifted today .
Small_Holding
11 Jul 2019
SDX - How low can we go? This is the chart taken from the SDX website showing the full chart since SDX came to AIM. The first entry is 22nd May 2016 and the share price was 21.43p At no time since then has the SDX share price been as low as it is now 18p. In the Q1 2016 results the highlights were; Production 1,252 bop/d Revenue for the Quarter US$2.1m Loss for the Quarter US$0.9m Average OIL PRICE US$24 a barrel In July 2016 SDX announced the second tranche of a private placement of 3,910.000 shares with an investor, interestingly the subscription price paid was 18p Obviously since then they have acquired Circle Oil, had excellent results with the drill bit and increased production significantly. If Institutional Investors are looking at the same fundamentals as we are, the big question is Why aren’t Institutional Investors buying at these low prices? The failings of Paul Welch CEO are well documented but when you step back what has actually happened. He gave us unrealistic timelines that he could never have delivered and he overstated future sales of gas in Morocco. SDX didn’t see a massive fall in revenues, as the latest update shows it is business as usual. The result of PW’s bad management is that things have been delayed but would that be enough to deter Institutional Investors. I appreciate there is a big loss of confidence in the company and that is probably the main reason. Do Institutional Investors believe there is more going on behind the scenes and there is a plan to take the company private? It may just be the possibility that it might be happening that is the deterrent. Does the company strategy put them off. I can only go by PW’s statements that they aren’t going to pay dividends but build the company into a US$1 billion company and then sell it. That looks a very very long way away at the moment. Does that deter II’s? 4 For our two cornerstone investors SDX SPV Ltd (WAHA Capital) and Ingalls and Snyder. They have both put in a sizeable investment and haven’t sold any in the recent turmoil. I don’t know their entry points but I suspect we are close to it now. They obviously are better informed than we are about the state of the company but why aren’t they adding? Especially since the TSX delist allows then to add around another 10% each. I would have expected them to give their broker instructions that if the share price falls below, say 20p, buy. It may just be that both these investors don’t buy in the open market. Whatever the reasons it is very worrying that nobody seems keen to buy SDX at the moment. If the share price just bumped along the bottom until South Disouq comes online it wouldn’t be so bad but it is the relentless slow puncture in the share price that is so depressing.
Small_Holding
09 Jul 2019
SDX - New Corporate Presentation on the website Just to underline what I am saying read this article Sound Energy has a market cap of £89m SDX has a market cap of £39m Total Market Solutions – 9 Jul 19 Where next for Sound Energy? - Total Market Solutions Where next for Sound Energy as it looks to monetise assets in eastern Morocco? Shares in Sound Energy have declined considerably over the last 12 months on the back of two disappointing drilling results. In response, the firm has introduced... Read...
Small_Holding
09 Jul 2019
SDX - New Corporate Presentation on the website With the benefit of hindsight we all know now that Paul Welch’s timelines were pure fantasy. As a direct result of those wild predictions the SDX share price has suffered terribly and it is obvious that the institutional investors got tired of PW and made him walk the plank. The SDX management do not want to make that mistake again and everything looks different this time. We have a laid down timeline giving definite dates when project milestones should be achieved and crucially they have built in to that timeline 8 weeks contingency in case of unforseen delays. Mark Reid has established an Executive Committee which will meet monthly to discuss progress and resolve any issues. I see this as a very positive move giving collective responsibility to hit deadlines and we are not just relying on the predictions of one CEO. Yesterday’s update was pretty comprehensive and gave details of progress made, the exact opposite of how things were done previously. Taking all this into account there is a lot riding on delivering first gas in Q4 2019 and I am sure Mark Reid and his Executive Committee will do everything in their power to ensure it happens. They need it to fund the next drilling campaign. So to answer your question I am reasonably confident we will be producing gas at South Disouq by the end of Q4 2019. I am not too disheartened by the lack of response in the share price yesterday. I wanted to know how things were going and how much cash SDX still had. Yesterday’s update gave me the answers I wanted, it was very positive with no bad news as far as I could see. When South Disouq is finally delivered the share price will re rate or the company will be taken over. I own several AIM shares and the last year SDX was my worst performer in terms of share price but paradoxically of all my AIM holdings SDX started the year with the strongest fundamentals and at this moment in time it still does. A company generating revenue, with no debt, cash in hand and about to double production and revenue in the next six months. None of my other AIM shares can get anywhere near that but still they all have had a better year share price performance wise, you couldn’t make it up!
holland44
09 Jul 2019
SDX - South Disouq Predicted Timetable But the last drilling campaign did not exactly do anything for SDX’s share price, or find any customers to sell the gas to . . .
holland44
09 Jul 2019
SDX - New Corporate Presentation on the website Hm, a cynic would say that every time they miss a deadline, the chances of hitting the next one grow worse, not better: the company looks like it might be getting desperate, encouraging the tradesmen and middle-men to delay again and charge even more baksheesh.
theprior
09 Jul 2019
SDX - New Corporate Presentation on the website Every time they miss a deadline the chances of hitting the next one improve because they have more time to resolve the issues. But I wouldn’t answer yes if u were SH To
