Research, Charts & Company Announcements
Research Tree offers SDX ENERGY INC research coverage from 3 professional analysts, and we have 21 reports on our platform.
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|10/10/2016 07:00:07||London Stock Exchange||Interpretation of 3D Seismic at South Disouq|
|26/09/2016 07:00:11||London Stock Exchange||Directorate Change|
|19/09/2016 07:00:08||London Stock Exchange||Result of AGM|
|24/08/2016 07:00:07||London Stock Exchange||HALF YEAR 2016 FINANCIAL AND OPERATING RESULTS|
|17/08/2016 12:24:31||London Stock Exchange||TR1: Notification of Major Interest in Shares|
|25/07/2016 07:00:07||London Stock Exchange||Closing of Second Tranche of Announced Placement|
|16/06/2016 07:00:08||London Stock Exchange||Operations Update|
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Interpretation of 3D at South Disouq
11 Oct 16
Seismic data surpasses expectations. SDX Energy has updated the market on its initial findings from the interpretation of the 3D seismic data that was acquired over its South Disouq permit in H1 2016. Having received the Pre-Stack Time Migrated (PSTM) data in mid September, the quality of the data set has surpassed expectations. Not only has it identified numerous leads and prospects in the Abu Madi formation (as expected), but early stage analysis has also identified a deeper oil bearing potential in the block. At this stage Management has not altered its existing risking and volumes. However, Investors should be aware of the increasing prospectivity of the area and the potential upside in the event of exploration success.
Promising data quality from seismic capture
10 Oct 16
SDX Energy has announced the initial findings from the seismic data acquired over South Disouq. The first pass (PSTM) post stack time migration has surpassed pre-acquisition expectations, allowing the company to assess horizons not previously assessed, importantly including those that are oil bearing in other blocks. The company expects to continue its assessment of data to refine the numerous prospects and leads already identified before a fully-carried exploration well in late 2016/early 2017. Once a target is identified we expect to update our core NAV (unchanged for the moment at 39p/share). Our RENAV, including a nominal 65mmboe prospect at South Disouq, is 72p/share.
Q2 2016 Results – All progressing well
24 Aug 16
SDX Energy has reported its Q2 2016 results this morning. Although the numbers were impacted by a large non-cash exploration impairment charge (in line with our estimates), the company would appear to be in fine fettle. The strong balance sheet and high margin production provide an excellent base for management to start to build the business both organically and through acquisitions.
In Fine Fettle
01 Aug 16
SDX Energy is in a very strong position. With its listing in London the company raised US$10 million (net of expenses). This coupled with its high margin production in Egypt leaves the company in a position where management are able to start to build the business both organically and through acquisitions.
Foundation of value in production, with upside
26 Jul 16
SDX Energy (SDX) is a London/Toronto-listed company with interests in two producing onshore fields in Egypt. Crucially for a small E&P, it will be cash flow positive in 2017 and is unlikely to return to the market for more equity to develop assets. The current work programme (of new wells, workovers and water flood) could see a more than doubling of recoverable volumes and is both cheap and relatively low risk. Once this work starts to bear fruit (later in 2016/17), the low-cost production will put SDX in the enviable position of being able to largely fund development of exploration prospects, while giving it resources and operational credibility to add further assets in Egypt. Our analysis indicates that the share price is more than supported by current operations, giving upside potential for the near-term production increases we see as likely and free exposure to exploration upside.
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21 Oct 16
STM* (STM): Acquisition of London & Colonial (CORP) | Hurricane Energy (HUR): £70m placing and open offer (BUY) | Firestone Diamonds* (FDI): Liqhobong commissioning update (BUY) | Accsys (AXS): Acorn aiming to be a mighty oak – analyst interview (BUY) | Avacta* (AVCT): Act now… – analyst interview (CORP) | Tristel* (TSTL): Full year 2016 results – analyst interview (CORP)
£70m placing and open offer
21 Oct 16
Hurricane has successfully raised £70m by issuing c.205.9m shares at a price of 34p. The company is also undertaking an open offer at the same price to raise a further £4.4m. The proceeds will be used to fund two exploration wells on Lincoln and Warwick as well as further development activity on the Lancaster field.