SDX Energy (SDX)

Business description

SDX Energy is an Egyptian onshore player listed in Toronto and London. It has plans to notably increase production in two fields, while a third should see a carried exploration well around the turn of the year.

Stock data

Market cap.£93.5m
Last close50.00p
High / Low (52 weeks)50.0p / 18.0p
Stock market listingLN, CN
Forecast net cash (US$m)7.2
Forecast gearing ratio (%)N/A
TeamResources - Oil & Gas
SectorOil & Gas

Price performance

Relative *3.571.4N/A

* % Relative to local index

Other companies in sector Show

88 Energy Activa Resources
ADX Energy Afren
African Petroleum Corporation Aminex
Andes Energia Antares Energy
Athabasca Resources AusTex Oil
AWE Azonto Petroleum
Bankers Petroleum Bitesize Briefing
BNK Petroleum Bowleven
Bridge Energy Buru Energy
Cairn Energy Canacol Energy
Canadian Overseas Petroleum Canoel International Energy
Cap Energy Carbon Energy
Carnarvon Petroleum CBM Asia Development
Central Petroleum Challenger Energy
Coastal Energy Cooper Energy
Core Laboratories Cue Energy
Denbury Resources DEO Petroleum
Dragon Oil Drillsearch Energy
Egdon Resources Elk Petroleum
Energy XXI Exillon Energy
Exoma Energy Falkland Oil & Gas
Faroe Petroleum Fastnet Oil & Gas
Forum Energy Gasol
Genel Energy Genie Energy
Great Eastern Energy Corporation Green Dragon Gas
Greka Drilling Gulf Keystone Petroleum
Gulfsands Petroleum Hawkley Oil & Gas
High Peak Royalties Hurricane Energy
Hydrodec Group IPB Petroleum
Ithaca Energy JKX Oil & Gas
Karoon Gas Kea Petroleum
Kina Petroleum Kreuz Holdings
Lansdowne Oil & Gas Leed Petroleum
Leigh Creek Energy LGO Energy
Lion Energy Liquefied Natural Gas Limited
Lochard Energy Madagascar Oil
Madalena Energy MEC Resources
Mediterranean Oil & Gas MEO Australia
Mosman Oil and Gas Nautical Petroleum
New Standard Energy New Zealand Oil & Gas
Nido Petroleum Nighthawk Energy
North Sea Energy Northern Petroleum
Norwest Energy Otto Energy
Pacific Rubiales Parex Resources
Petrel Energy Petroceltic
Petromanas Energy Petrominerales
Po Valley Energy Premier Oil
President Energy Pura Vida Energy
Quadrise Fuels International Ramba Energy
Range Resources Real Energy
Real Energy Corporation Regal Petroleum
Rockhopper Exploration SacOil Holdings
Salamander Energy Sefton Resources
Senex Energy Sequa Petroleum
ShaMaran Petroleum Simba Energy
SOCO International Solo Oil
Sound Oil Sterling Energy
Stratic Energy Tethys Petroleum
Touchstone Exploration Tower Resources
TransAtlantic Petroleum TransGlobe Energy
Valiant Petroleum Victoria Oil & Gas
Wentworth Resources WestSide Corporation
Xcite Energy
Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (c) P/E (x) P/CF (x)
2014A 24.5 19.1 16.5 3.2 19.2 9.1
2015A 11.4 2.7 18.8 47.1 1.3 N/A
2016E 10.1 0.1 (4.4) (5.6) N/A 22.8
2017E 44.7 28.2 10.6 5.2 11.8 3.9

Last updated on 21/02/2017

Latest research

Investment summary

SDX Energy announced this morning that it has spudded the South Disouq (SD-1X) well in Egypt, targeting gas and oil across a number of intervals. This is a high impact event for SDX Energy, as current company 2P reserves of 4.7mmboe (post acquisition) would be dwarfed by success at South Disouq (we model a 65mmboe field of which SDX holds 55% WI), which could be developed quickly due to existing pipeline infrastructure passing through the block. Our valuation for South Disouq is 6.8p/share, although on success we would expect notable de-risking. Our core NAV is 42p with a full NAV (including South Disouq) of 57p/share. The well is due to take 30-45 days, so we would expect a result in mid late April.

Last updated on 20/03/2017

Key management

Paul Welch, CEO
Mark Reid, CFO

Company address

38 Welbeck Street
United Kingdom
View website