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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Savannah Energy Plc | LSE:SAVE | London | Ordinary Share | GB00BP41S218 | ORD GBP0.001 |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.00 | 0.0% | 26.25 | 0.00 | 00:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Drilling Oil And Gas Wells | USD 212.5M | USD -60.87M | USD -0.0466 | -5.63 | 342.85M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 26.25 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 31/10/2023 | 17:31 | UKREG | Savannah Energy Plc Holding(s) in Company |
| 31/10/2023 | 17:30 | UKREG | Savannah Energy Plc Holding(s) in Company |
| 24/10/2023 | 15:16 | UKREG | Savannah Energy Plc Holding(s) in Company |
| 24/10/2023 | 15:15 | UKREG | Savannah Energy Plc Holding(s) in Company |
| 29/9/2023 | 13:32 | ALNC |  EARNINGS: Eight Capital swings to profit; Savannah Energy loss widens |
| 29/9/2023 | 06:00 | UKREG | Savannah Energy Plc 2023 Half-Year Results |
| 27/7/2023 | 15:30 | UKREG | Savannah Energy Plc South Sudan Acquisition Update |
| 20/7/2023 | 15:30 | UKREG | Savannah Energy Plc Board Changes |
| 30/6/2023 | 13:50 | UKREG | Savannah Energy Plc Result of AGM |
| 08/6/2023 | 06:52 | UKREG | Savannah Energy Plc FY2022 Results, Notice of AGM, Posting of Report |
Savannah Energy (SAVE) Share Charts1 Year Savannah Energy Chart |
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1 Month Savannah Energy Chart |
Intraday Savannah Energy Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 03/12/2023 | 20:36 | Savannah Energy - High Growth Sustainable Energy Specialist | 2,416 |
| 13/4/2023 | 08:11 | Savannah Energy | 230 |
| 23/1/2023 | 08:36 | New name, new hope? | 7,492 |
| 14/10/2022 | 04:23 | SAVE with charts | 11 |
| 28/3/2022 | 15:12 | Looks like zengas was wrong | - |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
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| Top Posts |
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Posted at 04/12/2023 08:20 by Savannah Energy Daily Update Savannah Energy Plc is listed in the Drilling Oil And Gas Wells sector of the London Stock Exchange with ticker SAVE. The last closing price for Savannah Energy was 26.25p.Savannah Energy currently has 1,306,098,819 shares in issue. The market capitalisation of Savannah Energy is £342,850,940. Savannah Energy has a price to earnings ratio (PE ratio) of -5.63. This morning SAVE shares opened at - |
Posted at 16/10/2023 09:08 by rockyride 1) DebtWe have known about this issue since the completion of the 7E RTO. We have also been working on it for in excess of two years with several 'expected dates' for closure missed. How on earth have we ended up in this situation whereby failure to renegotiate or refinance our current debt will seriously jeopardise the going concern of the whole company?Why was this not completed to stabilise, underpin and safeguard the company before we embarked on our very risky M&A activities?As you say this issue is not new, having been disclosed in our accounts since 2021. The refinancing of the debt acquired upon the Nigeria acquisition has taken longer than originally anticipated. However, as noted in our recent Half Year 2023 results announcement, we anticipate putting in place the Naira-denominated transitional facility during Q4 2023, with a term sheet already agreed with the lenders for this facility. We also do not consider that the current financing in any way jeopardises the financial stability of the company we continue to adopt the going concern method of accounting and the audit opinion from BDO is not modified in this respect.2) M&AHaving had a team of people conducting due diligence on over 20 potential opportunities in multiple countries, why did we decide to go in to 2 (Chad & South Sudan) of the most corrupt, dangerous and untrustworthy jurisdictions in Africa? With only Accugas underpinning the company, why did we not take on lower risk profile M&A opportunities before taking on these very cheap, very high risk deals?What is going on with the South Sudan deal? After all the recent press speculation, why have SAVE not updated the market? If this press speculation had occurred while we were trading, the share price would have tumbled and I'm sure you'd have had to issue something. Why is this different while we are suspended?As noted in our recent Half Year 2023 results announcement, we continue 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 intend to publish an AIM Admission Document in respect of the PETRONAS Acquisition on or before 15 December 2023. Whilst we do not comment on press speculation, we would note that both ourselves and PETRONAS are continuing to engage fully with the Government of South Sudan and are all working together in country as we continue to progress the transaction to its expected completion.We conduct thorough due diligence on all of our proposed acquisitions, whilst recognising that we operate in often challenging emerging market jurisdictions. We have a robust risk management framework in place to ensure that clear procedures for risk identification, assessment, measurement, mitigation, monitoring and reporting are aligned with Savannah's strategic aims and the Board's risk appetite see pages 92-101 of our 2022 Annual Report for more details on our Risk Management.How many cases do we have with the ICC, what is their current status and do any of them have hearing dates listed?In relation to the nationalisation of our interests in Chad, we have three arbitrations seated with the ICC in Paris, and one seated with the ICC In London. These have been brought by our subsidiaries Savannah Chad Inc ("SCI") and Savannah Midstream Investments Limited ("SMIL"). We will provide further updates as appropriate in relation to the progress of the various cases. However, these are currently at a relatively early stage in the process.Are SAVE still looking to undertake new M&A in as I would like to see us sort out our core business before we take on any more risky, very expensive M&A activity? I'd like to see debt sorted, compression completed and new customers added in Nigeria before we take on any other deals. Personally I think we should work on a consolidation plan for a period of time.As noted above, we expect to have the Naira transitional facility in place in Q4 2023. As noted in our Half Year 2023 results announcement, we are making good progress on the US$45 million compression project in Nigeria. Following the front-end engineering and the associated order of long lead items, detailed design work has commenced and is on track to be completed in Q4 2023, while startup is planned for mid-2024. We also added new customers in Nigeria and have seen continued momentum in H2 2023, with contract extensions secured with three customers, amounting to a total of up to 85 MMscfpd. Such is the strength of demand for gas in Nigeria that we were also pleased to reach an agreement with Amalgamated Oil Company Nigeria Limited ("AMOCON") in the first half of this year, to purchase up to 20 MMscfpd of gas from them over the course of the next ten years. As mentioned in our CEO's Letter to Shareholders in Savannah's 2022 Annual Report, we continue to review M&A opportunities and will pursue those which we believe would be accretive for shareholders.3) PRWe are being given very minimal information with regards current activity and current / future strategy. We only hear from Andrew when he feels compelled to do so. Can I ask that you put together a Webcast / presentation to be delivered to PI's with a'live' Q&A and not pre-submitted questions? On this note can I also ask that Andrew speaks a bit slower and more clearly as when he's in Africa, I really struggle to understand what he says. I note that we were promised an informal night (meet the BOD) for PI's with nibbles etc which has not yet materialised. Could I please request that you put something on for us sometime in Q4?We plan to give a detailed strategic update for all investors around the publication of our Admission Document in Q4 2023. We note your comment on the informal evening and will revert once an appropriate date has been considered. Kind regards, Sally |
Posted at 01/10/2023 14:18 by zengas FinnCap gave some costings on the renewables last year. (Page 4-5 July 22)For the mix of solar & wind and 750 MW they had a 13p valuation which was unrisked until in development and up and running. They estimated 75% would come from debt financing such as specialist infrastructure funds suggested by AK - the remaining 25% provided by SAVE. For wind the cost was estimated at $0.7m MW. For solar $0.5m MW - an average of $600m GW on a 50-50 wind/solar basis ?. SAVE were aiming for 1 GW in motion by this year end and 2 GW end of next. It was to be mid -late next year before the up to 250 MW Niger will be sanctioned with 1st revenues in 2026. On the basis of the F/Cap estimates - that would mean a cost of around $175m of which SAVE would need to find around $44m of their own money but likely spread over 2 years. Overall on the F/Cap estimate for the 2 GW to be in motion by the end of next year - the cost could be around $1.2 billion with $300m needed from Save although the first 1 GW up and running is likely to self finance a proportion of that with maybe $200-$250m needed to reach 2 GW ?. Save is aiming for 2 GW by end of next year so it wouldn't surprise me to see projects for 4-5 GW by the end of the decade given the massive target market of an estimated 240 GW across Africa by 2030 from memory. FinnCap are using about 13p for 750 MW for the mix of wind and solar last year net to SAVE. That would suggest that a 50/50 mix of wind/solar could be about 17.3p per GW - so if they build out to 2 GW maybe over 34p and if long term there's something like 5 GW about 86p - if reasonably close this would indicate why AK sees it as once in a lifetime opportunity on top of the value from Accugas and the separate hydrocarbon acquisitions and Niger. On project financing and an average cost of $600m per GW (50/50 Wind/Solar) - we'd need about $150m of our cash per GW. Obviously a proportion of that becomes self financing when the earlier projects are up and running to help fund later projects. The net debt profile on Nigeria should still be on track to be cleared in around 2 years (taking into account the added ownership of COTCo interest) - so you'd think should provide a significant level of freed up cash. Over the next 2 years id be disappointed if they haven't increased gas sales by another 25-50% or another $50-$100m sales. If they can land that crucial and sizeable oil acquisition that can throw off $2-$300m FCF such as Petronas S.S which must be already significantly discounted since the effective deal date - this i would think will be able to build future cash reserves and cover our contribution to grow the renewables. Most of these divestments have a pay back time of 3-4 years from effective date and earlier at much higher oil prices and why i think they're crucial to the entire game plan. |
Posted at 27/9/2023 13:12 by gisjob2 Captain,I know what you're saying but how can SAVE continue while the Government have gone behind SAVE's back and had their head turned. Not long ago the SS Government were glad-handing with SAVE on the African Oil Conference Stage and now see the Petronas assets as something they would like to own. How much can SAVE seriously invest in a asset they're never 100% sure they'll even own in a years time should the Government renationalise a year down the road. The Government are completely untrustworthy. It's not like they've even stated that if CalTech can't produce the money they would gladly accept SAVE as an alternative investor. It's like SAVE never existed. If AK wants to proceed now I would suggest he's lost his marbles. It's OVER ! It's a Dead Parrot ! It has ceased to be ! |
Posted at 27/9/2023 08:33 by rockyride IZ - I had this convo with IR a few months ago and SAVE / Petronas did an inordinate a mouth of DD and relationship building with the President of SS and key ministers. Whilst (as we know these deals are fraught with risk) I don't think SAVE could have possibly done anymore before signing the SPA.However, with all the embedded corruption in Africa along with many changes of ministers, we are forever trying to shoot a very fast moving target.As we know, we have no real idea what is actually going on but if the news from this week does turn out to be a RED LINE fail for this transaction, I genuinely feel for AK and the team alsong with all the loyal shareholders invested here.One of my concerns is that SAVE have done all the heavy lifting, helping work on licence extensions, ESG strategies, workovers and future well planning etc etc etc etc and then when everything is straightened out as much as possible, some other entity comes and signs on the dotted line with Government blessing and one or two suitcases being dropped on parachutes to peoples back gardens.Should SS fail and we don't have another 'oven ready' deal, I do feel that we need to review the SAVE strategy and specifically the 'Projects that matter' bit!Anyway, let's hope we learn a reasonable amount more on Friday but I guess there is always a chance as they don't want to go too public on the real situation and we just see another extension.Finally, although I said on the other board that I'd like us to come back without the explicit Gov consent, another way of playing it could to play hard ball. I.e. say to Gov 'right we are ready to go but wont do so without your 100% backing and explicit consent'. I now think this would be the best way to go so that we dont end up in another Chad situation. Should SS not sign off and we pull out, it would send a very strong message out to the industry that SS are NOT IN FACT open for business. They probably would not give a toss but at least we would know where we stand and could crack on with come other stuff that would earn us some incremental $$$. |
Posted at 25/9/2023 13:52 by thommie Goose I fear you are spot on with your guess. Petronas already sold its share to chad after save had to terminate the deal. It will likely happen again. The difference to chad is that save doesnt have the deemed government approval in this case I read some time ago. So it seems like there is little chance for save to deal with it like they are doing with the chad problem.The reason it didnt complete like expected was that SS wanted to wait longer so that the final payment for the asset got reduced to a point when they were capable of raising the funds to pay for it...What a desaster. African countrys are just not trustworthy anymore. I would advice save to shift their focus for inorganic growth away from africa. |
Posted at 20/9/2023 11:53 by gisjob2 All looks positive for SAVE, now if we can just get SS over the line and a positive outcome on the Chad lawsuit where everything seems to be going SAVE's way at the moment, where will SAVE'S share price be then I wonder ?I'm feeling much more positive about the legal outcome now, I knew we had the law on our side but it's nice to see it following the correct path. |
Posted at 02/8/2023 13:17 by napoleon 14th Dunno who the two reds are, nor do I care.Either it's a reaction to the jist of what I say, or simply not understanding it. BTW, I have been sitting on shares in this jam tomorrow company for too long. Lots promised, peeps talking of 100p/share etc... but suspended twice for over 12 months out of 30 in all. The reality of it reminds me of SOU! FACTS - The Sahel region is in turmoil, Boko haram etc still active, French troops on guard but don't have the upper hand and countries where the military make the rules. Putin and Wagner have found the door wide open and are actively gaining position (see the conference with Africa in St Petersburg) by promising food deliveries come what may and writing off loans to Africa (20 Billion US$ was it?). In view of events in Ukraine it is obvious the Russian side would love to trump the West in Africa. Furthermore, colonialism and slavery are themes that wind up the population who bear a grudge against the western powers (France in this case) which any junta plays on as much as possible. All that without even mentioning China, FWIW... Therefor it could well be that the Chad situation continues regardless of what the ICC has to say. Niger has blocked gold & uranium exports ( so what else, oil? "our" oil"?) South Sudan keeps getting delayed and is still unsigned, drags on near a war zone. There's not much left to put value in the share price - the gas business and some pipelines, but the security of the assets in this part of the world is such that any insurer would think very hard before getting involved! It is good practice to value things on a mean value basis - that's what bean counters do before signing off A/Cs as a true and fair view. Time to do that on SAVE? You can have the few SAVE shares I have at the price they are suspended. |
Posted at 31/7/2023 13:08 by zengas Saves initial cost for the Exxon assets was put at $372m & up to $50m contingent.This was for 40% of the Doba Oil project which was approx 12,000 bopd + 55.4 mmbo 2P + 44.1 mmbo 2C. Pipeline interest of 40.2% in TOTCo & 41.1% in COTCo. Save said they were going after what they had lost and would lose as a result of the nationalisation. At the minimum in the relisting presentation - Saves 9 year free asset cash flow was estimated at $76.5m/yr average = $688.5m and when added to the purchase price = $1060m before contingencies. The FCF without re-investment even if it was all profit and taxable at 30% leaves an overall 9 year figure along with the original purchase price coming down to around $850m . Separately FinnCap on the 27/3/23 had a valaution of $368.2m for the 2P, $297.3m for both pipeline interests, $131.8m for the 2C and $41.2m for pipeline upside = Total $838.5m. Given Save were prepared to sell 10% of COTCo for $44.9m - strip out a pro-rata 41.06% in total for COTCo and 90% of the upside figure - in total $221m - it should leave some $600m to chase (not counting the 41.06% of COTCo or $221m stripped out which should never have been in doubt as it's not part of Chads remit). On the basis of 1420m fully diluted shares £1/$1.30 $600m compensation = 32p/share. COTCo 41.06% valaution pro-rata based on currently intended 10% sale $184m = 10p/share. $170m owed to Exxon ?? = less 9p/share.. If successful, how it's paid is anyones guess but with access to bank accounts and the country being landlocked it should be possible to recover the cash some way. |
Posted at 24/7/2023 12:37 by zengas Re the 'UP TO $1250m S.Sudan headline figure.The FinnCap note of 4th January 2022 page 9 at the time of the Petronas & Exxon assets assumed the acquisition price of $3.40 P2 barrel for the 103.8 mmbo 2P reserves with another 82 mmbo 2C. With 22,500 bopd production = $15,700 flowing bl. -------------------- Afentra 19-7-23 on the Azule offshore Angola acquistion. "The attractive acquisition cost implies approx. $3.7/bbl based on 2P reserves". This is their 3rd acquisition on the same assets and gives them 6,000 bopd + 32 mmbo 2P oil + 20 mmbo 2C all done at $3.90b max which also includes some licence interests over and above production which has a discovery. If oil goes way above in 2 cases $65 and $75/b there are bonus payments to be made for 2 of the acquistions but these are spread out over 3 and 10 years respectively. Flowing cost per bl approx $20,400. For South Sudan - SAVE say "UP TO" $1,250m (so doesn't sound definitive to me) where as in the Petronas Chad acquisition it was for a definitive fixed sum when announced, while Exxon Chad was an up to price which included a contingency. So does the "UP TO" $1250m price tag include possible contingencies for higher oil prices/production profile case ? We know little other than AI reported the reserves were some 300 mmbls - was this all 2P. There's also likely to be considerable 2C. Based on what Save were paying for Chad ie an assumed $3.40 this would mean the 300 mmbls 2P in S.Sudan costing $1 billion pro rata. They are landlocked like Chad having to export a considerable distance through another country before reaching the loading terminal. Based on $3.70 for Afentras offshore Azule acquistion and $3.82 for all - these are offshore and measurably less risk for export. That would imply $1.1 - $1.15 billion for the S.Sudan 300 mmbls 2P. If you use the Chad price of $15,700 and Angola $20,400 flowing bl price - the 55,000 expected production in South Sudan could be in the $860m - $1.1b range. So on the flowing metric and 2P price examples it doesn't come to the UP TO $1250m and i can't see why SAVE would overpay given the risk never mind the Chad price example and the lower risk offshore Angola price example. Unless there is signifcantly more reserves, greater production or some other infrastructure in S.Sudan that gives income - therefore on 300 mmbo P2 and 55k production i woukd hope for a $1b price tag with any contingencies taking it to that 'up to' $1250m initially quoted figure. Apply a discount figure and if it's 1/1/22 then that could be a substantial deduction from $1 billion. |
Posted at 28/6/2023 12:14 by thommie Tiers, nothing has changed... Everything will be determined by the ICC ruling anyway. If they rule in our favour save will get a big amount of money for the aquired exxon assets. As bank accounts and oil transportation are international it wont be possible for chad nor cameroon to hide their oil and revenues from being confiscated to a point when save got paid the amount ICC ruled. If the ICC thinks everything that happened was legal, save gets absolutely nothing. So just forget about chad. It's all or nothing.The share price is completely underpinned by the well performing accugas part. It was already undervalued before any actions re new aquisitions. (ofc it would go down to 20p if we relist without SS, but nowhere near being nullified.)If SS gets approval by end july while the Sudan war still is ongoing, the share price will double on that basis alone if the deal leaves not so much financial risk after the adjustments relating to the economic effective date of the deal. Without war in sudan that would at least be around 100p I would guess.The funny thing is, that the longer the deal gets delayed the better financially, as every month the final payment will be a lot of millions less, meaning save wont have to take that amount in debt, saving interest rates over the years. Ofc that only works if it is approved in the end. We dont know that yet for sure. But I would guess the chance of a deal is bigger with the war threat in neigbouring sudan than without. If you dont allow such a deal to happen in this investor unfriendly environment you will never do so.The only problem I see with SAVE is that they dont seem to be doing the brown envelope sort of deals. And as all of us heard nothing in africa works without it in the end... |
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