Savannah Energy Share Discussion Threads

[moonshot3] 20/3/2024 17:45

I've written off the SS deal. The recent RNS is a means to soften the blow when we return to trading again.

[gisjob2] 20/3/2024 17:19

What have SAVE got themselves and us into in SS. Such a shame when great smaller deals like the Stubb Creek one can be done.

To be honest I'm surprised the SS Government haven't snapped SAVE's hands off if they want to invest in SS via the Petronas assets. A willing junior wanting to invest in the assets rather than a major not so willing. Maybe the SS Government are inadvertently doing SAVE a favour by seemingly not supporting the deal. It could be the best thing in the long run, albeit with some short term pain to the share price no doubt!.

The main benefit of a successful acquisition in SS is the effective date of the deal.

[1madmarky] 20/3/2024 17:07

Definitely need another pipeline!

[e43] 20/3/2024 17:03

S Sudan oil exports off-line after rupture of pipeline across war torn Sudan,as per oilprice.com.

[tim000] 20/3/2024 10:13

The wonderful NHS bureaucracy is spending vast amounts of money on electric ambulances, obviously which won’t be available for more than about 12 hours per day. They spend large amounts of money employing diversity staff, whose only contribution is to reduce staff productivity. That tells you where its priorities are - certainly not patient care.

[fireplace22] 20/3/2024 09:41

Buffy I have no qualms with the clinical ability of the NHS, clinical/technical staff are the minority in the NHS. It is the lack of accountability in spending millions on empire building, woke dogma and a general disinterest in efficiency. My Son in law joined the NHS, not a clinician, within a couple of months seven of his staff left (to other positions within the NHS) because he expected them to do the job they were paid for. I'm relatively lucky the only NHS service I personally wish to have is a dentist - paid for but none available for the last ten years?

[buffythebuffoon] 20/3/2024 09:18

FP22,

The reason there is no realistic competition is because the brains inventing new drugs and equipment have the capitalistic motive of making money but the NHS can’t afford to pay quality staff enough to keep them so they leave and nor is the budget big enough to afford the advances in medicine to the degree we would ideally like. Don’t judge the NHS by the poorer quality of staff they are forced to employ. There are still some wonderful top quality doctors, although less so nurses. I hope you are never in the situation of being in a country where you can’t afford to stay in hospital and be cared for. I worked in the NHS as a member of the patient facing staff, as they now call them. The standard of care is in places shocking when you come from a generation where matrons had the doors opened for them by junior nurses and doctors were served in a canteen with tablecloths.

£3,000 a year? Chickenfeed if you need the NHS. Have a look at Private Healthcare fees

Apologies for the off topic post, but I can’t tolerate thoughtless slagging off of a wonderful institution. I’d be less offended by Royal Mail criticism although I get the cherry picking defence.

Buffy

[rockyride] 20/3/2024 09:16

Last one on this as I should not be chatting OT on here. But Governments (central and local) need to STOP throwing cash at problems and get things running efficiently. We do now know if we need more staff in public services until we get the people who are already there working efficiently. I know people who work for our local council. They start their working day at 9.30am and they are never home later than 3.30pm. What they do in those 6 hours, by the way which includes 2 tea breaks and a lunch break, is anyone's guess!

[fireplace22] 20/3/2024 09:03

If it wasn't for the fact we're forced to pay about £3K per taxpayer per year to the NHS it would have gone under years ago in a competitive world, likewise the BBC and it's license fee. RR I wonder how many of those poor souls in Sudan are already on route to Europe?

[upwego] 20/3/2024 09:01

SGA6420 Mar '24 - 08:12 - 2707 of 2710

Have you ever been to Africa?

Bottom of my list to be honest lol :)

[rockyride] 20/3/2024 08:51

I recently won a small order for the NHS, it took me 5 weeks to win the deal, less than a week to provide the service and 9 weeks to get paid. I had to fill in 5 different forms to get set up on their supplier payment system and I had email exchanges with 5 different people who all worked in payment processing. In the end a senior NHS person I know, helped to walk my payment through the system. And the people who work in payment processing talk about GDPR and they have not got a scubby. I'm authorised and registered with the FCA and I can guarantee they did not know what they were talking about. This country is in a shocking state from top to bottom.Multiply our shambles by a big number and you'll be getting somewhere close to how much worse it is in the fiddling governments all over Africa!BTW - Did anyone see the awful situation in Sudan on BBC News at 10 last night. BBC led on the story and it's absolutely horrific and in my opinion worse than Ukraine and Gaza. 5m people displaced and growing with thousands of women being raped every day by multiple men - absolutely horrific!Now back to SAVE - ha ha ha - only 6 more trading days before our next update arrives on our humungous RTO deal.

[fft] 20/3/2024 08:26

Upwego, think of how long it takes to get planning permission in the UK....

[fireplace22] 20/3/2024 08:12

If its anything like our civil service it'll have to pass though several departments, scores of offices and hundreds of staff before no agreement declared.

[sga64] 20/3/2024 08:12

Have you ever been to Africa?

[upwego] 20/3/2024 08:06

Thing I don`t understand is to why it would take anyone in any industry 14 months to agree a deal with the government, its beyond my thought process, in terms of there`s an asset for sale, we want to buy it here`s proof of purchase money, we are going to drill loads of wells, re-stimulate older wells increase production massively which is going to make you more money.. what`s the problem? Okay I know the government want to keep the big company in the country, but when you have them refusing to spend money and watching the field and income go down on a monthly basis why would you just not turn round and say okay you can go now, it`s time for the mid cap company to come in.

Surely SAVE would be agreeing to spend x amount on investment and commiting to a certain spend within a few year of say £75m on the field or what ever the amount is surely this makes sense right? It`s just annoying there attitude towards fresh investment when clearly it`s the right thing to do for the countries income?

[upwego] 20/3/2024 07:54

1400 bopd x 75 = over $3m per month revenue without the increase in production.
Very nice move.

I wonder if the last 2 month extension could be Save have told the regulators give us 2 more months to get Government approval, or we will walk away from it.

Who knows anything can happen in this game.

[1madmarky] 20/3/2024 04:45

That would be bloody marvellous!
Also good to see the Naira bouncing back. It's now positive for the month according to Google.

[rockyride] 19/3/2024 19:44

Few nice photos on today's Tweets. News should start to ramp up now and am more confident of an share price on return even if SS should fail. With SS, I expect to see somewhere around 89p - if you know- you know!

[1madmarky] 19/3/2024 11:28

RR - GUILTY! :-)

It did stand out somewhat in the RNS so felt the need to highlight it again

[zengas] 19/3/2024 10:46

Good to see the Stubb Creek deal completed with Sinopec though i wasn't expecting the oil element which is a bonus.

My thoughts this past few weeks were on Save possibly doing something in tandem in Niger with Sinopec given they were after 4 neighbouring blocks to us but which the Niger government is rumoured to now want to develop themselves.

That's a lot of gas and oil before any further acquisitions.

Also a welcome dollar income boost from new additional and expected to double oil production.

Sinopecs Sipec made $27.8m after tax profit in 2022 so should overall improve our dollar income/less reliability on the naira and with overall production expected to double should really improve things.

This perhaps looks like the 'at least one further acquisition' which was expected by the end of 2023.

This has moved our net 2P/2C up to over 180 mmboe with Agadem net (220+ mmboe gross).

It' shows how quickly things can take a step change.

If they can push on this year in Niger and if the segments in Amdigh are as hoped for in pressure communication (which were not included in the first time around in the cpr), it could add a sizeable uplift in 2C. Approx 100 mmbo additional to play for in 3 existing fields.

Of course if S.Sudan could only complete and with a rumoured 300 mmbls reserves (A.Intel) would put us in a different 2P/2C and production league.

[mount teide] 19/3/2024 10:14

Thanks RR - I too think its a very useful bolt on acquisition secured at an attractive price....particularly when considering that the headline price on completion is likely to be discounted by somewhere between 9-12 months of accrued contribution from the assets for the main part of the deal, due to the negotiation of a 1st Sept 2023 effective date.

[rockyride] 19/3/2024 09:53

Hope you all enjoy this little read and I'd like to think this is worth at least 5p to the SP!This SCAP note brings the RNS to life and makes me realise what a great little this deal is for us. PS thank you - you know who you are...SAVE LN Equity } Savannah (SAVE) is buying out its partner (SIPC) from the Stubb Creek oil and gas field in Nigeria, raising its exposure to a strategically important asset for the company with strong oil production enhancement and gas development potential at an attractive price.Savannah will pay US$61.5m in total for the 49% of Stubb Creek it does not already own. This equates to an acquisition price of just US$1.3/2P+2C boe and is well below our US$102m valuation for 49% of Stubb Creek at US$70/bbl Brent.The acquisition is expected to be funded through a new debt facility and existing cash resources. The transaction has an effective date of 1 September 2023 and completion requires regulatory approvals, but this is expected to be relatively straight forward over the coming months.Savannah is acquiring reserves and resources of 46 mmboe, boosting its resource base by almost 30%. Of this, the 227 bcf (38 mmboe) of gas resource is especially important with development anticipated in c2033 as the Uquo field gas production comes off plateau, helping to satisfy Savannah's growing Nigerian mid-stream gas requirements.SIPC 2024 oil production is estimated at 1,400 bopd. However, management plan to implement a low-cost debottlenecking programme within 12 months of the deal completion that is expected to more than double Stubb Creek gross production to 4,700 bopd.The acquisition has strong strategic and commercial rationale. It looks attractively priced and gives Savannah total operational control over a producing asset it knows well where oil production can be rapidly increased at modest cost. It brings a complimentary gas development asset into the portfolio that can support Savannah's long-term midstream gas distribution ambitions. For investors frustrated by the South Sudan RTO, this smaller 'bolt-on' transaction should be welcome, demonstrating that management has not neglected its core business in Nigeria.

[rockyride] 19/3/2024 09:05

1MM - morning sir - you been peeking over yonder? LOL

[gisjob2] 19/3/2024 09:02

It's Alive!

[1madmarky] 19/3/2024 08:53

Nice to see we continue to grow.
Note the use of bold and trumpeting the increased production. All good in my view.