Savannah Energy Share Discussion Threads

[1madmarky] 31/7/2023 10:47

So supporting the status quo at the time of SAVEs purchasing of the chadian assets. And ruling the subsequent BS as BS.

[interzone] 31/7/2023 09:34

ICC ruling reported in African media:

In a document of more than 80 pages, the Chamber of Commerce and Industry (Cci), seized by the company Savannah energy, took several decisions including that of banning Chad, SHT Overseas and DPII, now called SHT Doba Pipeline Investment Inc., to prevail against third parties or parties to the Articles of Cotco, until the resolution of the dispute on the merits.

After having detailed the facts since the nationalization by the Chadian State of the assets of Esso, acquired by Savannah energy, the Chamber of Commerce and Industry, through the emergency arbitrator, Marc Henry, declares itself competent to rule on requests for emergency measures requested by the requesting Party; declares admissible the requests for emergency measures requested by the requesting Party.

The emergency arbitrator orders “the suspension of the effects of the resolutions adopted at the general meetings of Cotco on May 24, 2023 until the resolution of the dispute on the merits; the suspension of the effects of the resolutions adopted during the Cotco Board of Directors on July 4, 2023 until the resolution of the dispute on the merits”.

The CCI prohibits the Republic of Chad, SHT Overseas and DPII, now called SHT Doba Pipeline Investment Inc., from relying on third parties or parties to Cotco's Articles of Association until the resolution of the dispute on the merits; suspends the holding of the meeting of the Board of Directors convened on July 26, 2023 by the new Chairman of the Board of Directors until the Arbitral Tribunal constituted on the merits rules on the holding of this meeting; suspends the holding of the combined general meeting convened on July 26, 2023 by the Chadian shareholders until the Arbitral Tribunal constituted on the merits rules on the holding of this meeting.

The emergency arbitrator rejects the request for a declaration that the composition of Cotco's board of directors is that registered with the Registry of the Court of First Instance of Douala-Bonanjo on June 6, 2023 until the Arbitral Tribunal constituted on the merits decide on this question; the request to prohibit COTCO from making any payments from its accounts or from moving accounts between its accounts, except for the payment of its employees, taxes and its existing subcontractors and suppliers essential to the operation of the pipeline until a resolution of the dispute on the merits.

[interzone] 28/7/2023 08:17

Upwego, I'm absolutely sure that will be the case. He has a big personal investment in this company so he'll be ensuring there is cast iron protection on this. You can see by the way there was an amendment to the Exxon agreement due to the Nationalisation that he's ensuring everything is considered and secure.

[upwego] 28/7/2023 06:44

Thanks InterZ..

I`m wondering, with Petronas wanting out of S.Sudan desperately, probably more than ever now and just wanting to wash there hands clean from Africa, I`m also wondering on the other side of the coin, AK want`s S.Sudan more than ever but AK`s primary concerns will be to protect any capital associated with the deal and protect Capital.

So I`m wondering if he`s doing the same with Petronas loaning the money of them or a big proportion and securing payback on that proportion based upon liftings which I think is prudent, given the increase in risks and protecting shareholder value..

I can`t see Save stumping up £600m in Equity or RBL to buy an asset with no protection, now they didn't with Chad and I assume that`s not going to happen with S.Sudan or a big portion of the final price linked to liftings. All of these risk factors I`m sure are being considered more than ever now and I`m sure protecting share holder value Risk and risk factors will be top of the Menu.

[buffythebuffoon] 27/7/2023 22:56

China are in Niger sunbed. We are inextricably linked in my view.



Buffy

[sunbed44] 27/7/2023 21:51

I think this is potentially worse news than some others on hereNiger coup makes the troubled Sahel region yet more fragile hTTps://www.bbc.co.uk/news/world-africa-66322914

[thommie] 27/7/2023 21:39

Sunbed ofc thats possible. But I guess it mainly depends if Andrew needs to give more goodies to the IIs and to himself like he did with chad. In hindsight with the exxon Prepayment facility there wouldnt have been any need to issue equity. And if we assume a backdated aquisition of SS from january 2022 which seems to be possible we are after 19 months looking at a bit over 3 billion $ revenue on the net share of the petronas stake. Growing to around 4 billion till the end of 2023. So if that isnt able to translate into 25% cashflow I dont know what does? If this deal is approved by the government it will be transforming for us. No doubt. The question is only: will it be approved?

[gisjob2] 27/7/2023 20:39

Zengas,

No problem, Cheers

[sunbed44] 27/7/2023 19:44

*300mboe 2P

[sunbed44] 27/7/2023 19:44

Tommie - could you imagine adding 50-60kboepd, 300mboe, no need to issue any equity and no additional debt? So long as there was still an export pipeline in tact, I think we would see quite a decent share price rise then. 100p?

[thommie] 27/7/2023 19:27

So here is the potential to knock off another ca 100m$ from the final asset price over the next 60 days (3 liftings of 1m bbls each) and back to sleeping again.I still wonder if there would be even anything left to pay. Surely another expansion for another 2-3 months would lead to petronas paying us for taking over the asset.

[zengas] 27/7/2023 19:01

gisjob2

My sincere apologies to you. I have indeed clearly misunderstood your stance on Nigeria. Hands up and fair cop, my mistake !

[divmad] 27/7/2023 18:40

Or in Nigeria...

[sunbed44] 27/7/2023 18:03

And right now I'd take 30p for all mine today and wish everybody good luck. No middle ground now, it's gonna be pretty high share price compared to suspension price or pure carnage.

[1madmarky] 27/7/2023 17:55

They must have told the nomad something pretty compelling to get another extension. Fingers crossed 🤞

[sunbed44] 27/7/2023 17:34

As things stand with Niger, Chad and Cameroon: if South Sudan falls through I see a share price returning below 20p and with South Sudan completing, I see the share price returning above 40p.

[langland] 27/7/2023 17:26

I would guess sharply unchanged.

[plentymorefish] 27/7/2023 16:41

Let’s see how the share price opens tomorrow…̷0;…

[lloydypool] 27/7/2023 16:37

Let's hope not!

[fft] 27/7/2023 16:36

Hopefully no coup in SS before then ! Or afterwards :-(

[lloydypool] 27/7/2023 16:31

RNS - South Sudan Acquisition Update

Further to its announcement on 8 June 2023 the Company continues to advance the various workstreams required to complete the acquisition of PETRONAS International Corporation Limited's energy business in South Sudan (the "PETRONAS Acquisition") and now intends to publish an AIM Admission Document in respect of the PETRONAS Acquisition on or before 30 September 2023, following such point the Company will seek restoration to trading on AIM of its ordinary shares.

[sunbed44] 27/7/2023 15:14

End of q3 only 2 months away

[interzone] 27/7/2023 15:05

Upwego, yes that's certain. Sajy asked if we will be getting a Q2 update soon and the answer was the next news is likely to be the AD. So he thinks that means it will happen much sooner than end of Q3.

[gisjob2] 27/7/2023 14:10

Zengas,

You misrepresent my position by only mentioning Niger to suit your agenda! I'm completely happy with Nigeria and have always been happy to do business in Nigeria and am happy for SAVE to do more business in Nigeria in the future, this has conveniently slipped your mind.

Just because SAVE called themselves a West Africa focused company when their projects were based in West Africa does not preclude them from considering other African countries when expanding so I don't see why an investor should think any different. Especially when we all know SAVE have considered some potential acquisitions that have not been West Africa which sort of proves the point.

You are correct some countries can be stable for a while and then change, others have had a history of being bad places to do business. There are a number of relatively safe African countries to do business, certainly more reliable than places like Chad & DRC etc

For info I've worked on projects in about a dozen African countries in my time but pointless to name them unless projects are available for SAVE to consider otherwise it's just self-indulgent ramblings