SDX Energy Plc (SDXEF)

[~ Blue ~]

Egypt peaks with latest licence round

Success: the EGPC, responsible for overseeing the latest exploration round in Egypt, expressed relief at the level of interest from international oil companies

REUTERS/SCANPIX

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By NASSIR SHIRKHANI London

01 November 2012 23:59 GMT
INTERNATIONAL oil companies have reacted positively to Egypt’s first post-revolution onshore licensing round, picking up 11 of the 15 blocks on offer despite financial and political problems.

Oil company sources confirmed the awards to Upstream, though formal announcements have yet to be made.

Sources told Upstream that Canada’s TransGlobe Energy Corporation has emerged as the biggest winner, with four blocks, followed by Anglo-Dutch supermajor Shell, which added two more concessions to its existing acreage in Egypt.

US independent Apache Energy, the largest oil producer in the prolific Western Desert, bid for six blocks but managed to pick up only one amid tough competition.

Other successful bidders included Dubai-controlled Dragon Oil, which is making its debut in Egypt.

Privately-owned Greek player Vegas Oil & Gas, South Korea-owned and UK-based Dana Petrol-eum and Germany’s RWE Dea also added to their existing acreage in the country, picking up one block each. State-owned Egyptian General Petroleum Corporation (EGPC), which is overseeing the onshore round, has expressed relief at the level of interest.

However, oil industry sources said EGPC may have skewed the round to include only good blocks to lure investors and present a picture of normality.

Moreover, the company extended the deadline on several occasions to give bidders ample time to make up their minds and consider bidding strategies.

New investors largely shunned the round, unwilling to take the plunge into Egypt’s current political and financial abyss.

The bid round comes at a time of serious financial problems for EGPC, which is facing mounting debts amid rising subsidies for refined products and an inability to secure new financing.

The company has been running behind schedule with payments to independent oil companies and especially to smaller players.

While the independents have managed to sustain output since Mubarak was toppled, exploration activity, especially in gas-prone offshore areas, has suffered.

Oil and gas industry attention will now turn to the current offshore licensing round being overseen by Egyptian Natural Gas Holding Company, which is offering 15 blocks, including six near the maritime borders with Israel and Cyprus, where there have been significant gas discoveries in the Levant basin.

The closing date for this round is 14 November and it will be of particular interest to deep-water exploration players keen to gain access to the Levant basin’s huge potential, but not via Israel, Cyprus or the Lebanon, wherepolitical risks are of major concern.

http://www.upstreamonline.com/hardcopy/news/article1268868.ece

[COBFIRE]

We should get news of the EGPC bid round results today!!

http://www.marketwatch.com/story/transglobe-energy-corporation-successful-bidder-on-four-concessions-in-the-201112-egpc-bid-round-2012-11-06

[~ Blue ~]

awesome news another 1600 barrels oil production added

[COBFIRE]

PRODUCTION INCREASES

This Shagar oil producer was initially tested at 1600 bopd on a 24/64" choke. The well is now tied-in and producing at a stable rate of 906 bopd on 18/64" choke.

[COBFIRE]

NEWS UPDATE OUT!!!!


9:25 am release from CNW Group

Egypt Operational Update

Monday, November 05, 2012


CALGARY, Nov. 5, 2012/CNW/ - Sea Dragon Energy Inc. ("Sea Dragon" or the "Company") (TSX VENTURE: SDX) is pleased to announce the following operational update for its recent work program in Egypt.

NW GEMSA CONCESSION

The NW Gemsa concession is located onshore on the west side of the Gulf of Suez, some 300 km southeast of Cairo. Two main oil fields are producing light oil, the Al AmirSE field along with the Al Ola extension to the south and the Geyad field to the north.

Current production from the Al AmirSE and Geyad fields is approximately 9,000 bopd gross (900 bopd net to Sea Dragon). Currently producing wells include seven Al AmirSE wells, two Al Ola wells and three Geyad wells. Cumulative production from the NW Gemsa Concession has now exceeded 9.58 million barrels of 42 degree API Crude oil.

Water injection is ongoing with three injectors currently operating at Al AmirSE Field and two injectors at Geyad Field. Current total injection rates are approximately 14,700 barrels per day. Cumulative injection to date is 5.54 million barrels at Al AmirSE and 1.14 million barrels at Geyad.

Sea Dragon has a 10% working interest in the NW Gemsa Concession with Vegas at 50%, as operator and Circle Oil PLC with 40%.

Geyad-6ST Well:

This Shagar oil producer was initially tested at 1600 bopd on a 24/64" choke. The well is now tied-in and producing at a stable rate of 906 bopd on 18/64" choke.

Al AmirSE-13 Well:

This development well was spud on October 14, 2012with the objective of appraising the northern area of the field between AASE#4 and AASE#11 wells. The well has now reached a depth of 9,888 feet and began coring the Kareem Formation. Plans are to drill the well to its projected total depth of 10,100 feet and produce the Kareem Shagar and Rahmi sands.

Al AmirSE-7 Injector Work Over:

Operations were recently conducted to reperforate and recomplete this well as a single zone Rahmi water injector. The well was previously a commingled Shagar / Rahmi injector, however differences in reservoir quality resulted in most of the water being directed to the Shagar. The workover will result in increased water injection into the Rahmi zone, where additional volumes are needed to maintain reservoir pressure, optimize production and maximize oil recovery.

Al Ola-3 Well:

Operations are underway to dually complete this injection well in the Rahmi and Shagar sands. The well has been successfully perforated in the intervals: 10,232-10,252 feet and 10,164-10,182 feet. Plans are to run a final completion string and commence water injection.

Geyad-2ST Well:

Plans are to recomplete this well in the Rahmi zone. This former Shagar producer experienced water problems due to an underlying aquifer and was shut-in late 2011. The Rahmi is to be perforated and tested in the interval 6,565-6,595 feet.

KOM OMBO CONCESSION

The Kom Ombo Concession is located onshore in the southern part of Egyptsome 1,000 km south of Cairo. It contains the Al Baraka oilfield, producing light oil from multiple reservoirs and an exploration area of 11,400 km².

Current production from the Al Baraka field is averaging approximately 530 bopd gross (265 bopd net to Sea Dragon).

Sea Dragon has a 50% working interest and is a joint operator of the Kom Ombo Concession with Dana Gas owning the remaining 50%.



Read more at http://www.stockhouse.com/bullboards/messagedetail.aspx?p=0&m=31738639&l=0&r=0&s=SDX&t=LIST#quaSyTqHMeXlOXc3.99

[PhilCheeze]

SDX.V a very solid CA company !

[~ Blue ~]

SDX.V new well started to production 1600 barrels a day.

North West Gemsa Operational Update: Geyad-6ST1 well

The Geyad-6 development well was spudded on 10 September 2012. It reached a TD of 6,200ft and then it was sidetracked as Geyad-6ST1 and reached a TD of 6,350ft. It successfully tested 1,559 bopd and 1.3 MMscf/d, was completed as a Shagar producer and put into production.

http://www.vegasoil.com/en/main.php?view=news1&node_id=95&newsid=321


THE COMPANY OWN 10% OF THIS CONCESSION..

IT MEANS 160 BARRELS A DAY

[Margin-Hunter]

Looking good!

[~ Blue ~]

SDX.V KOMOMBO concession 50% partner with DANAGAS

Dana Gas has a 50% working interest in the Komombo Concession which is jointly operated with Sea Dragon Energy. The 11,500km2 Concession is in Upper Egypt about 1000km south of Cairo.
In 2007 Dana Gas Egypt discovered the Al Baraka field on the Concession. Three development wells were drilled on the field in 2008 and 2009, which was followed by an eight well development programme in 2010. Production from three productive zones, Abu Ballas, Six Hills E and F, reached 1000 bopd, (500 bopd net to Dana Gas) at the end of 2010.
Further development of the field involves a continued development drilling programme and hydraulic fracturing of the wells, to enhance their productivity and increase recovery of oil from the reservoir.

There is considerable exploration potential on the Komombo Concession and detailed work has been carried out including the acquisition and interpretation of 477 km of new 2D Seismic. Based on the seismic interpretation, new mapping for the Komombo area has been developed with potentially drillable prospects being generated.

http://www.danagas.com/en/project/operations/egypt/komombo-1.html

[~ Blue ~]

SDX.V partner : DANA GAS ANNOUNCES ITS SECOND 2012 DISCOVERY IN EGYPT

Dana Gas PJSC, the Middle East's first and largest regional private sector natural gas company has announced a new gas discovery in the Nile Delta, Egypt. The discovery was at West Sama-1 in the West El Qantara Concession.

This new field discovery comes after the first successful drilling in the Komombo Concession earlier in the second quarter of the year. The new discovery is nearby to the Sama-1 and Sama-2 dry gas discoveries in the Abu Madi formation. The evaluated in-place resources for the West Sama-1 are between 4 to 6 Billion Cubic Feet (Bcf). The company is preparing a development plan for this discovery to be tied in to the nearby pipeline owned by Dana Gas. The West Sama-1 gas discovery will be tied in to the Company’s nearby South El Manzala gas processing plant within a week.

The West Sama-1 well is the first significant dry gas discovery in the Kafr El Sheikh Formation by Dana Gas in 2012 and the twenty third as a result of the aggressive exploration drilling campaign that started in 2007 and will continue throughout 2013.

Mr Rashid Al Jarwan, Dana Gas Executive Director and Acting CEO, said “Our team in Egypt continues to deliver tremendous results. We are delighted that this exploration well has been successful. It builds upon Dana Gas Egypt’s outstanding record of discoveries”. Dr. Patrick Allman-Ward, Dana Gas Egypt General Manager commented, “The well is an excellent start to 2012 drilling in the Nile Delta. We still have a sizeable portfolio of drillable prospects and our exploration activity will continue throughout the year, as will our development activities.”

Dr. Patrick continued: “The discovery at the West Sama-1 well represents a successful Dana Gas strategy of drilling shallow gas discoveries that can quickly help Egypt meet its growing demand for gas. We are delighted that our prospect generation efforts followed by an effective drilling program are continuing to produce positive results, which will boost even further the company’s production starting from this year”.

This new field discovery comes after the announcement of commencement of Dana Gas’ joint-venture, the Egyptian Bahrain Gas Derivatives Company (EBGDCo) NGL extraction plant at Ras Shukheir in Egypt. EBGDCo’s first cargo shipment of propane was achieved on 1st October 2012 signalling scheduled plant production start-up on a commercial basis. When fully operational, the plant will extract 120,000 tonnes per annum of propane & butane from a gas stream of 150 MMscfd.

Dana Gas is an operator in the Nile Delta currently producing gas and associated liquids from 11 fields, and is the 50% operator alongside Sea Dragon Energy and producing oil from one field in Upper Egypt. During 2011, Dana Gas Egypt produced 77.67 billion cubic feet of gas and 2.6 million barrels of liquids.

Dana Gas is currently the 6th highest gas producer in Egypt, a country whose gas reserves has doubled in the past 5 years to over 70 trillion cubic feet, and is among the world's top ten exporters of LNG. In 2007 Dana Gas made Southern (Upper) Egypt's historic first ever commercial oil discovery from its first exploration well drilled in the Komombo Concession. The Company is firmly committed to pursuing further investments, in partnership with the national Egyptian companies and other energy companies from the region and internationally.


http://www.danagas.com/en/pressrelease/media-center/press-releases/dana-gas-announces-its-second-2012-discovery-in-egypt.html

[~ Blue ~]

MONSTER NEWS Egypt: Sea Dragon-Dana to return KomOmbo acreage

HOUSTON, Oct. 22
10/22/2012
By OGJ editors

Sea Dragon Energy Inc., Calgary, and Dana Gas have fulfilled the work commitment for the Kom Ombo Block 2 concession 1,000 km south of Cairo, Egypt, and will surrender the balance of the area in January 2013.

The concession contains an 11,400 sq km exploratory area as well as Al Baraka field, averaging 535 b/d of light oil from multiple reservoirs.

The companies in 2012 drilled the AB-16 development well, completed as a Kom Ombo A producer, and the AB-17 development well as a dry hole. They recompleted the AB-11 well in the Six Hills F-1 formation after having suspended it in March 2011.

The Faris exploratory well was dry, and the West Al Baraka-2 exploratory well resulted in a new Abu Ballas oil discovery. The companies applied for a development lease for West Al Baraka-2, and once it has been approved will place the well on extended test to assist in preparing a development plan.


http://www.ogj.com/articles/2012/10/egypt-sea-dragon-dana-to-return-kom-ombo-acreage.html

[~ Blue ~]

SDX.V 100% strong buy

http://www.barchart.com/opinions/stocks/SDX.VN

[PhilCheeze]

SDX.V ~ I am loading this one every week.
I like the strong upside here!

[COBFIRE]

NEWS OUT
http://www.stockhouse.com/news/canadianreleasesdetail.aspx?n=8645233

[PhilCheeze]

Loading more SDX.V this week ~

[~ Blue ~]

SDX.V undervalued oil company DD with links

1) O/S shares 376 million

Insiders hold 8% of shares

Recently insiders purchased millions of shares

http://www.canadianinsider.com/node/7?menu_tickersearch=SDX+|+Sea+Dragon+Energy+

Institutional investors hold 30% of shares

2) Current production 1,250 barrels a day, CEO confirmed production increased 17% from previous year.

3) No net debt

4) 17 million barrels oil reserve

5) Partner with Danagas (billions of dollars oil and gas company)

Danagas website http://www.danagas.com/en

6) CEO Said Arrata is one of the board members of Danagas

7) Cash on hand 12 million dollars, 20 million dollars line of credit.

9) Book value 24 cents share price 6 cents

10) The company is planing merger or acquisition

Research report out: strong buy recommendation

http://moneytalks.net/pdfs/MM26SepFinal.pdf

New presentation from the company Sept, 2012

http://www.seadragonenergy.com/uploads/Presentations/CorporatePresentation.pdf

The company website
http://www.seadragonenergy.com/

ihub board link

http://investorshub.advfn.com/Sea-Dragon-Energy-Inc-TSX-SDX-20234/

[COBFIRE]

KOMOMBO HAS HIGH POTENTIAL

Besides the Mediterranean, where do you see the biggest potential for new discoveries in Egypt? You’ve been working in the Nile Delta and Ganoub el Wadi, do you believe there is significant potential for valuable discoveries there?
As an exploration specialist, I look at the South and Southwest of Egypt as places with very high potential. In the past, no one has been interested in these areas because of their remoteness. In order for a company to have an economic discovery in these areas, the discovery needs to be of a certain magnitude in order to justify establishing infrastructure in the area. Now that the Western Desert and Nile Delta have been heavily explored, the trend is starting to shift towards moving to these remote areas. I believe that Dana Gas’s Komombo discovery in Upper Egypt was very important because for many years people believed there were no hydrocarbons in this area. The same thing was being said about Southwest Egypt, and I am now very optimistic that there are substantial potential reserves in this area that have to be looked at in unconventional ways. Those parts of Egypt still need to be explored in a serious way, and I see a lot of potential for unconventional resources in the future.

http://www.egyptoil-gas.com/read_article_issues.php?AID=594¤t=true

[COBFIRE]

EGPC BID ROUND HAS SOMETHING FOR EVERYONE

When you speak of the promising bid rounds in the near future, are you referring to the new Mediterranean bid round?
The bid rounds are coming from EGAS, GANOPE, and the EGPC, and that’s the beauty of it, there’s something for everyone. The major companies will be competing for the Mediterranean deepwater blocks, while the rest of the companies will be competing for onshore and shallow water blocks.

http://www.egyptoil-gas.com/read_article_issues.php?AID=594¤t=true

[COBFIRE]

EGPC TO ANNOUNCE BID ROUND IN A FEW DAYS


Kamal said he expected the government to announce long-delayed results of an oil and gas exploration licensing round within "a few days" after receiving 25 bids from companies including Chinese and other Asian firms.


http://touch.chicagotribune.com/#section/-1/article/p2p-72688713/

[PhilCheeze]

SDX.V is a solid long term investment ~

[COBFIRE]

SDX.V undervalued oil company DD with links

1) O/S shares 376 million

Insiders hold 8% of shares

Recently insiders purchased millions of shares

http://www.canadianinsider.com/node/7?menu_tickersearch=SDX+|+Sea+Dragon+Energy+

Institutional investors hold 20% of shares

2) Current production 1,225 barrels a day, CEO confirmed production increased 17% from previous year.

3) No net debt

4) 17 million barrels oil reserve

5) Partner with Danagas (billions of dollars oil and gas company)

Danagas website http://www.danagas.com/en

6) CEO Said Arrata is one of the board members of Danagas

7) Cash on hand 7.5 million dollars, 50 million dollars line of credit.

9) Book value 24 cents share price 6 cents

10) The company is planing merger or acquisition

Research report out: strong buy recommendation

http://moneytalks.net/pdfs/MM26SepFinal.pdf

New presentation from the company Sept, 2012

http://www.seadragonenergy.com/uploads/Presentations/CorporatePresentation.pdf

The company website
http://www.seadragonenergy.com/

ihub board link

http://investorshub.advfn.com/Sea-Dragon-Energy-Inc-TSX-SDX-20234/

[~ Blue ~]

CEO Said Arrata holds 9,956,666 shares

Latest Filings Over the Past 12 Months - Maximum 60
/ CEO / CFO / OTHER OFFICER / DIRECTOR / ISSUER / 10% HOLDER / SUBSIDIARY EXECUTIVE / DEEMED INSIDER
- Information that has been adjusted or estimated by INK - Amended filing
Transaction Shares/ Account
Date Insider Name Ownership Type Nature of Transaction Security Price ($) Units Change* Account Balance
Sep 27/12 Arrata, Said Samaan Youssef Direct Ownership Public market buy Common Shares 0.060 1,000 0.0% 9,956,666
Sep 24/12 Arrata, Said Samaan Youssef Direct Ownership Public market buy Common Shares 0.060 98,000 1.0% 9,955,666
Sep 21/12 Arrata, Said Samaan Youssef Direct Ownership Public market buy Common Shares 0.060 36,000 0.4% 9,857,666
Sep 20/12 Arrata, Said Samaan Youssef Direct Ownership Public market buy Common Shares 0.060 156,000 1.6% 9,821,666
Sep 19/12 Arrata, Said Samaan Youssef Direct Ownership Public market buy Common Shares 0.060 66,000 0.7% 9,665,666
Sep 18/12 Arrata, Said Samaan Youssef Direct Ownership Public market buy Common Shares 0.055 5,000 0.1% 9,599,666
Sep 17/12 Arrata, Said Samaan Youssef Direct Ownership Public market buy Common Shares 0.060 776,000 8.8% 9,594,666
Sep 14/12 Arrata, Said Samaan Youssef Direct Ownership Public market buy Common Shares 0.060 424,000 5.1% 8,818,666
Sep 13/12 Arrata, Said Samaan Youssef Direct Ownership Public market buy Common Shares 0.060 300,000 3.7% 8,394,666
Sep 12/12 Arrata, Said Samaan Youssef Direct Ownership Public market buy Common Shares 0.055 94,000 1.2% 8,094,666
Aug 30/12 Moaaz, Ahmed Direct Ownership Public market buy Common Shares 0.045 17,000 1.5% 1,150,000
Aug 29/12 Fitzgerald, Ken Direct Ownership Public market buy Common Shares 0.045 550,000 > 100% 550,000
Aug 29/12 Moaaz, Ahmed Direct Ownership Public market buy Common Shares 0.045 453,000 66.6% 1,133,000
Aug 10/12 Moaaz, Ahmed Direct Ownership Public market buy Common Shares 0.045 25,000 3.8% 680,000
Aug 9/12 Moaaz, Ahmed Direct Ownership Public market buy Common Shares 0.045 75,000 12.9% 655,000

[ChannelTrader]

SDX.V chart >>>

[ChannelTrader]

Good looking chart that's for sure & nice DD Blue !

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=80151150

[~ Blue ~]

SDX.V undervalued oil company DD with links

1) O/S shares 376 million

Insiders hold 8% of shares

Recently insiders purchased millions of shares

http://www.canadianinsider.com/node/7?menu_tickersearch=SDX+|+Sea+Dragon+Energy+

Institutional investors hold 20% of shares

2) Current production 1,225 barrels a day, CEO confirmed production increased 17% from previous year.

3) No net debt

4) 17 million barrels oil reserve

5) Partner with Danagas (billions of dollars oil and gas company)

Danagas website http://www.danagas.com/en

6) CEO Said Arrata is one of the board members of Danagas

7) Cash on hand 7.5 million dollars, 50 million dollars line of credit.

9) Book value 24 cents share price 6 cents

10) The company is planing merger or acquisition

Research report out: strong buy recommendation

http://moneytalks.net/pdfs/MM26SepFinal.pdf

New presentation from the company Sept, 2012

http://www.seadragonenergy.com/uploads/Presentations/CorporatePresentation.pdf

The company website
http://www.seadragonenergy.com/

ihub board link

http://investorshub.advfn.com/Sea-Dragon-Energy-Inc-TSX-SDX-20234/

[~ Blue ~]

sup, lunch, dinner more than that

[ChannelTrader]

Sup here Blue ?

[PhilCheeze]

SDX.V is solid investment ~

[~ Blue ~]

SDX.V CEO Said Arrata holds 8.4 million shares



http://moneytalks.net/pdfs/MM26SepFinal.pdf

[~ Blue ~]

SDX.V research report out: strong buy recommendation

http://moneytalks.net/pdfs/MM26SepFinal.pdf

[PhilCheeze]

Agree. Accumulating SDX.V ~

[~ Blue ~]

very undervalued solid oil company

[PhilCheeze]

I am adding more SDX.V weekly !

[~ Blue ~]

awesome i read all i will add more

[COBFIRE]

Further expansion to other regions
This is SDX's plan

> North Africa, (Libya, Tunisia) > Central African Rift play (Sudan, Kenya, Uganda, Tanzania, Mozambique) > West Africa Turbidite play (Ivory Coast, Cameroon, Gabon)

http://www.seadragonenergy.com/uploads/Presentations/CorporatePresentation.pdf

[COBFIRE]

Did anyone listen to the AGM online?

updates?

[COBFIRE]

New presentation!!!
http://www.seadragonenergy.com/uploads/Presentations/CorporatePresentation.pdf

[PhilCheeze]

Great day in SDX.V today ~ loaded more today again !