Savannah Energy Share Discussion Threads

[1madmarky] 23/4/2024 20:48

The shares were supposedly changing hands at 28.5p the other week. Either fat fingers or someone on the wind-up.
Trade was reversed anyway.

[tiers] 23/4/2024 18:28

Anyone called the company? Any idea what’s going on? Who’s selling at 10p? Know something that we don’t?

[haideralifool] 23/4/2024 16:28

Could it be options being exercised?

[mount teide] 23/4/2024 16:20

Wildcat Petroleum currently has a market cap of $4.5m and a share-price that has collapsed by 96% during the last two years.

Wildcat Statement:

'As a contingency against the deal not going through in Sudan, the Company had started a dialog with the Minister of Petroleum in South Sudan at the start of 2024. In February 2024 the Company was notified that it had passed the due diligence process which was conducted by the South Sudanese Ministry of Petroleum.

This process included the evaluation of the Company's technical competency as well as its financial capability to complete a MAJOR multi-MILLION/BILLION dollar oil production purchase. This clearance is required from the MOP before Wildcat can undertake any petroleum deal in the country including the purchase of large-scale oil production.'

Clearly, the due diligence carried out on Wildcat by the South Sudan Ministry of Petroleum, with respect to Wildcat's financial ability to complete a multi $Billion oil production asset purchase in the country would be worth seeing.......considering the micro cap company barely has enough cash left to keep the lights on until the end of the year!

[scottishfield] 23/4/2024 16:04

'2824' That is saying that they cannot proceed in Rep of Sudan. They are now concentrating on South Sudan. Two different countries. Juba (mentioned) is the capital of S Sudan, Khartoum to the north is capital of Rep of Sudan.

[ashkv] 23/4/2024 16:02

If Sudan deal implodes - and no Accugas refinance / SAVE back to 10p or worse Andrew Knott has to go!!!

It has been a heads I win tails you lose leadership for SAVE shareholders with this character...

All over the place - fanciful dreams of Hydroelectric Dams and such nonsense - while not delivering a single item!!!

Even the Accugas deal can be considered not fully complete as refinancing lacking!!!

WHAT AN ABSOLUTE AND TOTAL SHAMBLES / INEPT / MUPPET CEO!!! IF SUDAN FAILS HE HAS TO GO!!! AND HOPEFULLY SALE OF NIGERIAN AND NIGER ASSETS WILL SALVAGE SOME VALUE FOR SHAREHOLDERS!!!

[ashkv] 23/4/2024 15:59

Yahoo Finance also displaying a 10p price for SAVE :(

I have been deeply concerned about the Sudan transaction ever since I came across the below RNS from a small AIM outfit Wildcat Petroleum last week / 15 April 2024

[zengas] 23/4/2024 15:32

Although the SAVE website on major shareholders states it was last updated on 31/1/24,

'The following members own legal and beneficial interests representing three per cent. or more of the Company’s issued share capital:'

Lat time i looked there was 9 holders but there now includes one called Ruffer and the first time i've noticed them making it 10.

Ruffer doesn't hold over 3% - it holds 1.57% or 20,586,437 shares

This brings the 10 listed institutions to 61.14% + 4.79% for directors = 65.93%.

[swanvesta] 23/4/2024 15:14

A couple of 3m trades at 10p reported

[ashkv] 23/4/2024 15:03

Perhaps SAVE can monetize Niger assets?

[ashkv] 23/4/2024 15:01

Weird - and I hope it doesn't materialize so!!! Google Finance is currently displaying a price of 10p for SAVE / Savannah Energy

[mount teide] 20/4/2024 11:24

Chart many have been waiting for Bloomberg to publish for years - Oil Price Adjusted for inflation from 1970 - 2024.

Confirming that the oil price today in real terms would have to nearly double to reach the level it averaged for 4 years between 2011 and 2014, and would have to go up by 122% to reach its all time inflation adjusted high price in 2008.

[mount teide] 18/4/2024 15:18

Work to repair Sudan oil pipeline progressing well - South Sudan Finance Minister Chuang.


South Sudan eyes Dar Blend export restart in 6-8 weeks - Argus / 17th April 2024

'South Sudan aims to restart exports of its heavy sweet Dar Blend crude grade within six-eight weeks as it works to repair a pipeline in war-torn Sudan, finance minister Awow Daniel Chuang told Argus.

Problems along the Petrador pipeline since February have prevented around 100,000 b/d of South Sudan's Dar Blend from reaching Sudan's Bashayer terminal on the Red Sea for export.

This has seen South Sudan's crude production almost halve to around 80,000 b/d because of a lack of alternative outlets for the grade. But production of the country's medium sweet Nile Blend grade continues as it is transported to Bashayer through the separate Greater Nile oil pipeline.

Landlocked South Sudan is entirely reliant on Sudan to export its crude and depends on oil sales for more than 90pc of government revenues.

Chuang, a former oil minister, said work to repair the pipeline was progressing well despite logistical challenges, and that unless something unforeseen happened, flows "should resume" within six-eight weeks.

The pipeline has suffered from gelling issues — solidifying crude — leaks and pressure drops for months. One key issue has been a lack of diesel, which is typically used to heat the crude or dilute it to help it flow.

Repairs have been complicated by the civil war in Sudan, pitting the army against the paramilitary Rapid Support Forces. The conflict passed the one-year mark on 15 April, with no end in sight.

While production and exports in both Sudan and South Sudan held up surprisingly well at the start of the conflict, problems have begun to pile up over the past few months. South Sudan is sending diesel to Sudan because of the closure of the 100,000 b/d Khartoum refinery, which has come under repeated fire.

Sudan typically produces around 50,000 b/d of mostly Nile Blend crude, but this is thought to have been impacted by the civil war. Argus assessed Sudan's crude output at 20,000 b/d in March.

South Sudan's crude production was trending at around 150,000 b/d before the pipeline outage. Argus assessed South Sudan's crude output at 80,000 b/d in March.

Crude exports from Sudan's Bashayer port averaged 130,000 b/d in 2023 and stood at 168,000 b/d in January, according to Kpler. But exports have only averaged about 65,000 b/d since February.

South Sudan's crude production stood at around 300,000 b/d in the first few months following its independence from Sudan in 2011. It has a short-term target to grow output to 230,000 b/d and 450,000 b/d in the longer term — something the country's leaders acknowledge will require political stability and a surge in foreign investment.'

[gooseman1979] 17/4/2024 14:49

Niger uses Turkish trader BGN to pressure CNPC over state-owned oil sale

The junta has managed to obtain a cash injection of $400m in pre-financing from China National Petroleum Corp by playing oil traders off against each other.

Niger's Prime Minister Ali Lamine Zeine received a cheque on 12 April for $400m in pre-financing from China National Petroleum Corp (CNPC) in exchange for which the Chinese major will sell the Nigerien state's 25.4% share of the around 90,000 barrels a day of crude oil exported via pipeline from Agadem to the Beninese port of Sèmè.

According to our sources, Zeine was however still discussing the sale of the same Agadem barrels in early April with managers from Turkish trader BGN International, headed by Ruya Bayegan. The Nigerien government had suggested to BGN that it was best placed to market the oil, and new talks between the prime minister's office and BGN had been due to take place this week ahead of a possible final agreement. BGN was in competition with Emirati trader BB Energy.

No guarantee of renewed contract
However, CNPC, which operates Agadem, did everything it could to keep control of the sale of the state's share of the oil by agreeing to have its Niger director, Zhou Zuokun, sign the 12 April agreement. The junta has been in power since July 2023 and wants to limit its dependence on the oil behemoth, making a point of reaffirming that the 12-month agreement may not be renewed if other traders offer better terms.

CNPC has controlled Niger's oil sector since its arrival in 2008, when it developed the Agadem fields, which came on stream in 2011. It set up the Société de raffinage de Zinder (Soraz), before starting to work on the crude oil export pipeline to Benin in 2019. Oil began flowing through the pipeline in March, and the first cargo is expected to be offloaded in May.

[mount teide] 16/4/2024 12:12

Interesting to have confirmation from Savannah's website that the Cameroon Export Transportation System includes both the export pipeline from Chad together with ownership of the offloading FSO(Kome Kribi 1) and related port infrastructure at Kribi in the Gulf of Guinea. This should provide SAVE with a very strong position to secure payment of any financial compensation awarded by the ICC Tribunal, should(as is likely IMO) they find in SAVE's favour with respect to the Chad Government's illegal Nationalisation of SAVE's Doba assets bought from Exxon.

'Cameroon Export Transportation System - comprises the Cameroon export pipeline, the Kome Kribi 1 floating storage and offloading unit (“FSO”) and related infrastructure. The Cameroon ETS, combined with the export pipeline in Chad, is the only international export route for oil production in Chad, which is used by the Doba Consortium and other third-party shippers including CNPC, Perenco and OPIC, a wholly-owned subsidiary of CPC Corporation and Taiwan.

The Cameroon pipeline has a diameter of 30” and a total length of 903 km with a nameplate capacity of 250,000 bopd which can transport relatively heavy crude. It includes two pumping stations, a small pressure reduction station, as well as three maintenance areas and is equipped with a leak detection system. The pumping stations are located at 215 km and 880 km along the pipeline.'

Construction of the pipeline, which is buried below the ground, started in 2000 and was completed in 2003, a year ahead of schedule. The total cost of the pipeline project was US$2.2 billion and several US and European Export/Import Credit agencies and the World Bank supported the construction and implementation of this major infrastructure project.

The Kome Kribi 1 is the offshore moored FSO vessel and is part of the ETS infrastructure. The FSO is a converted crude tanker with a nameplate storage capacity of 2.5 MMbbl and is connected to a single-point mooring system. The Kome Kribi 1 FSO is able to accommodate tandem-berthed export tankers up to 320,000 tonnes deadweight.




AIMHO/DYOR

[mount teide] 16/4/2024 11:41

Header updated with changes to assets held, links to latest presentations and shareholders with a notifiable interest.

Shareholders with a notifiable interest as at 31/1/2024:
10.60% - Ingalls & Snyder LLC
8.88% - TT International Investment Management
7.33% - Capital Research & Management
7.00% - Premier Miton Investors
6.14% - JO Hambro Capital Management
5.85% - Phoenix Life
5.26% - Cavendish Fiduciary Limited 6
4.91% - Aberdeen
3.60% - RWC Asset Advisors

4.70% - Savannah Board - of which AK holds 48.55m (3.70%)

64.27% - Held by notifiable interests and Directors.

[1madmarky] 13/4/2024 21:42

It is anticipated that, within 12 months following completion of the SIPEC Acquisition, Stubb Creek gross production should increase by approximately 2.7 Kbopd to approximately 4.7 Kbopd through implementation of a de-bottlenecking programme.
So if the oil price does get to $100, stubb creek could become quite significant.

[gisjob2] 13/4/2024 20:00

Nigeria is mainly gas, Niger has still not been developed, Chad went t@t's up and South Sudan hasn't been signed off by the Government and has issues with the supply pipeline. Happy Days.

[1madmarky] 13/4/2024 18:48

Oil looking likely to rise further.
Just need to get the damn stuff to the market.

[mount teide] 11/4/2024 14:14

Yes, similar to early Jan - some large trades totalling close to 10.0 million changed hands at mostly 28p or more.

Probably one institution selling to another in an off book transaction.

[1madmarky] 11/4/2024 12:22

Yeah, it's screwed up the suspension price being displayed on the other site. Up a couple of pennies... yippee 😁😁😁

[upwego] 10/4/2024 21:44

Anyone notice them trades go through yesterday?

[interzone] 09/4/2024 08:53

Blimey ash, don't let yourself get so worked up, you'll do yourself a mischief. Nothing you can do about it so suggest you forget about it till it comes back and enjoy the summer. If you think it's a scam then you might feel better if you write to the FCA and explain why. That might ease some of your frustrations.

Meanwhile, some top class racing at Aintree this week if you want a distraction :-)