Savannah Energy Share Discussion Threads

[1madmarky] 22/10/2024 16:23

Don't think it's a horse... mule?

[napoleon 14th] 21/10/2024 12:28

fft - LOL.
Too true.

Flogging.....dead horse....
Is AK sane or unhinged?
Give this up, man, and get the shares requoted.

I'm worried about the eventual price once it's quoted again as AK
has taken up chasing ghosts full time. Not the behaviour of a sane man,
let alone the CEO of an energy company.

[fft] 20/10/2024 04:23

I am sure AK has a plan. :-)His VR headset probably shows a land of milk and honey with multiple pipelines singing songs to him.

[mount teide] 17/10/2024 12:39

Sudan - South Sudan Oil Pipeline

Oil production set to resume as key pipeline repairs completed - Citizen Newspaper 16th Oct 2024

'Government delegation to Port Sudan has confirmed that critical repairs to oil facilities have been successfully completed, clearing the path for the resumption of production and exploration.

In a statement to the state-own TV, SSBC, the head of the delegation, Dr. Chol Deng Thon, who is also the Undersecretary in the Ministry of Petroleum confirmed that the oil facilities are now in good condition following repairs, paving the way for the imminent resumption of production and exploration.

“The importance of this visit was to check the status of resumption pump station number 6 happens to be the most critical station along the pipeline, and all the operations and the issues of operation were hedging on fixing the pumping station number 6 which we have just seen,” he said.

“All the preparations are going well. We have been briefed by the operating company and the station number is ready, on the technical side based on the report we have received we can confirm that the pipeline is ready for the resumption to happen,” he added.

The main pipeline carrying oil from South Sudan through Sudan for export was halted in February because of damage stemming from a war between Sudan’s army and the Rapid Support Forces.

Analysts say the damage is leading to serious environmental contamination and that the stoppage has contributed to higher food prices in Sudan, where millions face extreme hunger.

South Sudan’s economy has been under pressure in recent years amid communal violence, with crude oil export revenue having dwindled since a 2013-2018 civil war and more recently export disruptions due to war in neighbouring Sudan.

The country had been sending about 150,000 barrels per day of crude through Sudan for export, under a formula established when South Sudan gained independence from Khartoum in 2011.'

[fireplace22] 13/10/2024 15:52

Just been watching Talk tv, Isobel Oakshot giving an insight into Nigeria and it seems to be on a knife edge, the current President in London at the moment seems to have taken corruption to a new level and with food inflation well above the 30% plus figure, people are starving. Her perspective was more what this would mean to UK if we did get large numbers of refugees.

[affc21] 11/10/2024 11:59

SAVE post via X ( twitter):Savannah is delighted to share our latest technical paper, "A consistent and integrated high-resolution stratigraphic framework for the Sokor Alternances in the R3 East Area, Agadem Basin, Niger", which focuses on our hydrocarbon discoveries within the Agadem Rift Basin in Niger, where our licence interests cover 13,655 km2 or c. 50% of the basin. The paper was recently published in First Break, a monthly European publication serving the E&P geoscience and engineering community and follows our Technical Team's presentation at the European Association of Geoscientists and Engineers (EAGE) conference in 2022.Following the findings of a comprehensive study, the paper details an updated stratigraphic framework for the Sokor Alternances, the prolific oil formation within the Agadem Rift Basin where Savannah's Niger oil discoveries were found. The new framework is expected to significantly enhance the geological correlation between fields and help Savannah to predict reservoir presence and understanding across our portfolio of 146 exploration targets across the Agadem Rift Basin.This project was a true team effort, and we could not be prouder of the hard work and dedication of our Technical Team, Dr. Temistocles ("Simon") Rojas, Raul Bastante, Ed Robinson, Dr. Tim Wright and Dr. Christophe Ribeiro.To read the article on page 35 (actually it's page 37), click here bit.ly/47ZQhl6

[rockyride] 10/10/2024 09:53

TweetAccugas Limited, Savannah's midstream subsidiary in Nigeria, was delighted to host Nigeria's Honourable Minister of State, Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, on a visit to our Uquo gas Central Processing Facility, which enables approximately 20% of Nigeria's thermal power generation capacity.During the visit, the Honourable Minister of State, Petroleum Resources (Gas) commended Savannah for its substantial investment to date in Nigeria and said: "I appreciate what you are doing, and I want to encourage you to sustain it."Commenting on the importance of gas to the Nigerian economy, the Honourable Minister of State, Petroleum Resources (Gas), stated that His Excellency President Bola Tinubu is intent on developing the gas sector to drive the Nigerian economy. He said: "The President is very intentional and strategic about developing the gas sector to drive the economy of this nation. We know that if the economy of Nigeria is driven by gas, it will make things easier and that is the target of the 'Decade of Gas' initiative. Our target is to make sure that by 2030, the Nigerian economy will be driven by gas."

[upwego] 07/10/2024 20:19

Probably ready to pounce on the next asset once were re-listed and the S.S deal has fallen through, whatever the new aquisition is, I hope it does not include a suspension again.

[gisjob2] 07/10/2024 20:16

It's not hindsight. Never been a fan of South Sudan and have said so constantly. I also cannot believe that South Sudan was ever the answer after the Chad debacle.

I would give our CEO recognition if he hadn't managed to preside over a halving of the share price since listing, delaying Niger testing and development for years and still not managed to complete the refinancing. Along with getting us involved in South Sudan and managing to keep us suspended for two years while spinning this out still further when everyone knows it's a dead duck but AK it seems. I cannot believe AK has managed to meet any of his KPI's this year or last.

I'll give AK recognition when he puts his 'pretend Multinational oil company boss clothes' back in his dressing up box and concentrate on the day to day running of the company and when the share price resembles that of the first day of trading.

It's not clever to halve the share price, anyone can do it !

[kinkell] 07/10/2024 15:03

Given that prior to his demise the original leader in Chad was reported as supportive. The subsequent change of policy was not predictable especially as SAVE was promising to invest to increase production reduce fuel poverty and bring new employement through renewables. It looks as if SS followed Chad's lead. Hindsight is a wonderful thing. Had the plans bsucceeded SAVE would be swimming in cash. Lets give some recognition to our Ceo's efforts to make us all rich.

[gisjob2] 07/10/2024 14:28

They can't screen their opportunities very carefully if they ended up with Chad & South Sudan as their choices. I can only assume others were in North Korea and Afghanistan.

[zengas] 07/10/2024 09:02

Report in today’s AI that Tullow is working behind the scenes on a maiden venture to take a stake in Nigerias oil producing Niger Delta, the first time in its 40 year history.

There must be other opportunities out there that Save are eyeing. The previous 2years annual reports they appear to have screened some 40 opportunities so I couldn’t see that just suddenly having ended since South Sudan was announced. Sipec came in the midst of that so who knows what else is still being worked on.

[hopeful holder] 07/10/2024 08:01

Aw shoot, apologies all. Thank you affc21.

[affc21] 06/10/2024 17:57

Wrong company I'm afraid It's Savannah Resources doing the investor meet presentation Mix up easily done

[fft] 06/10/2024 17:08

Why would they do that without being re-listed ? Seems odd to me. Especially if they adopt the give as little info as possible approach.Potential investors can't invest until relisted and so seems more like a look at me event for AK, and that sort of thing has ended in tears before.

[hopeful holder] 06/10/2024 16:01

SAVE are to present on the investor meet company platform on the 11th October 2024.The presentation will be available afterwards on the platform as are previous presentations.The more diligent gp here will be able to compare what they said to what they did.The platform allows questions to be submitted but not all will be answered as I guess many will be sim and also plenty of questions being submitted.Thanks all.HH

[wardrv] 03/10/2024 22:16

https://oilprice.com/Latest-Energy-News/World-News/Nigeria-Looks-To-Jumpstart-Natural-Gas-Sector-with-Tax-Cuts.html

[mount teide] 03/10/2024 18:19

Angola O&G Sector - front running the rest of Africa? As a result introducing highly attractive contractural and fiscal incentives to raise production, ANPG President Paul Jeronimo announced yesterday that he expects investments of $60-100bn in its O&G industry in the coming years.

More regulatory incentives on the way!



Africa’s Oil Nations Make Progress in Creating $5-Billion Energy Bank - Oilprice.com today

'The oil-producing nations in Africa have raised 45% of the initial $5-billion seed capital for the planned Africa Energy Bank (AEB), which is set to fund oil projects on the continent amid a crunch in financing on the international markets.

The early financial supporters of the Africa Energy Bank include major oil producers Nigeria, Angola, and Ghana, according to Omar Farouk Ibrahim, Secretary General of the African Petroleum Producers Organization (APPO).

“I believe we are the first development bank to progress from conceptualisation to near fruition in just over two years,” Ibrahim said on the sidelines of the Angola Oil & Gas conference, as carried by Bloomberg.

APPO and African Export-Import Bank (Afreximbank) in 2022 signed the initial agreements about the establishment of the Africa Energy Bank.

The new bank has been structured as an independent and supranational pan-African energy development bank with an initial capital of $5 billion.

In June this year, Afreximbank and APPO signed the Establishment Agreement and the Charter of the Africa Energy Bank at a ceremony in Egypt. The signing ceremony concluded two years of negotiations and preparations by the two parties to establish the AEB.

The African oil producers decided to create AEB “to address the impending funding crisis in the African oil and gas industry, triggered by the global energy transition.”

“Traditional financiers, on whom Africa has relied for decades, are withdrawing support, particularly in Africa, citing climate change concerns as the primary reason,” Afreximbank said in a statement in June.

APPO’s secretary general Ibrahim commented, “For too long Africa’s oil and gas industry has been dependent on extra-African funding. We came to take foreign financing of our oil and gas projects for granted, until the advent of energy transition made us realize that those on whom we have depended for many decades have decided to abandon us.”

Africa can’t afford to swiftly shift away from fossil fuels when it has the largest share of the population living without access to energy, Ibrahim noted.'

[1madmarky] 03/10/2024 05:28

If this does happen
Then South Sudan oil exports will be more or less un profitable ( based on Petronas's results in previous years when oil was around that price)

[interzone] 02/10/2024 07:32

Yes Thommie, Scotpak corrected themselves regarding the subb creek debt as it hasn't been closed yet.

[thommie] 01/10/2024 21:21

Thx Inter for reposting. So if true that looks very very good to me. As the 60m naira fx losses in H1 will be flowing back in next year via the true up mechanism. And the 127m from chad, even if its 37m in the end drops written net debt for another 90m. But as the stubb creek deal hasnt closed yet, I dont see why that would influence our net debt?

[1madmarky] 01/10/2024 18:55

Wrt the Chad related debt, I would have thought our $1.2b claim would be worth at least $37m ,thus IMHO the whole $127m can be ignored. Of course I'd hope for more than $127m.

[interzone] 01/10/2024 18:45

Thommie, this from ScotPak on LSE:

Was looking at the accounts this morning again. Here are some of my notes:

> Money was spent on following where revenues are not yet flowing in :

>> $61.5m for Stubb creek acqn

>> $45m related to gas compression project

>>> Both initiatives are positive developments which will materially increase EBITDA/ freeCF

> EBITDA was $91.6m for the 6 months period However including Other operating income it rises to $201.5. The extra amount comes from the "true -up Mechanism" including in the gas contracts of the largest customers that makes the customers make a payment to account for the FX losses

> The Naira hit on cash was $60m, thus fairly material. But as I said before, the Huge FX adjustment is mostly behind us. A local bank facility is now in place which is paying down the Accugas USD debt, and this local facility is expected to be replaced by the local currency bond

> $127m of the Debt on balance sheet relates to the CHAD acqn of which only $37m is recourse to SAVE. Thus you would ideally strip the non-recourse portion out when calculating net leverage which SAVE have not done.

CONCLUSION: Loads of one offs related to acqn debt, FX losses and projects where CF is expected to flow in. Given all the various initiatives, doesnt look to bad to me. Even if you dont include CHAD, SS, NIGER, and the various Solar projects (where CF is expected in a few yrs time)