SDX Energy Plc (SDXEF)

[~ Blue ~]

SDX.V(.11) news out(!) Currently, Sea Dragon is producing almost 2,000 barrels of oil a day, generating US$17mln of cash flow, and has around 6.5mln of proved and probable reserves.

This means that, unlike many other firms of a similar valuation, it is self-sufficient, and armed with a US$50mln revolving credit facility it aims to grow into something rather more significant.

The “next level up” requires it to drill five wells (it has identified four new prospects) that will, combined, give it access to 20mln of barrels and take production to 5-7,000 barrels a day.

http://www.proactiveinvestors.com/companies/news/45782/sea-dragon-spies-opportunities-from-uncertainty-in-egypt-45782.html