Savannah Petroleum Share Discussion Threads

[zengas] 05/10/2018 08:00

100% success rate in discovering oil from every prospect drilled. Can't fault it to date given so many prospects to drill and others still emerging.

Possible additional pay in Zomo requires further evaluation or testing to confirm.

Company now saying potentially significant structures for additional oil targets under the Amdigh, Bushiya and Eridal discoveries.

Also new additional exploration targets - "Preliminary work conducted to date has served to revalidate many of the previously identified exploration targets on the area as well as identifying several new targets".

Production to commence from the EPS early 2019.

In the process of putting together a large multi well campaign aimed at replicating 2018 success - R3 East and Central, early 2019 drilling.

Fantastic result to date and no reason not to expect at least a 75% success rate going forward on the same Sokor alternances targets that have an estimated risked 1 billion bls recoverable alone.

[haideralifool] 04/10/2018 14:49

AK is due to be at an investor evening in 12 days time, so we'll have a chance to quiz him then. But given recent announcements from the co. it seems as if they are progressing on the basis of this being a done deal.

[bushman1] 04/10/2018 13:57

TT. well spotted, many thanks. I think general understanding is the 7E deal is due to be signed off ~ according to AK ~ before end October. I'm not too sure.

Could any investors on this forum with more detailed knowledge please advise. Many thanks.

[thomasthetank1] 04/10/2018 13:35

All - thought you might like to see the below in Shares Magazine.

hxxps://www.sharesmagazine.co.uk/article/our-great-idea-on-savannah-is-off-to-a-strong-start

Shares Magazine
Our Great Idea on Savannah is off to a strong start
By Tom Sieber
4 October 2018

Encouraging news alongside first half results help drive shares higher

Our positive call on Savannah Petroleum (SAVP:AIM) is off to a good start boosted by strong oil prices and continuing operational excellence in Niger.

The company has drilled four successful wells in this location in 2018 and has identified 120 potential structures to drill, demonstrating the scale of the opportunity it is chasing in the African country.

Alongside half year results on 28 September, Savannah unveiled a new $50m debt facility which should enable it to accelerate activity ahead of first output from Niger in 2019. It also flagged imminent results from its fifth well of the current drilling programme, Zomo-1.

The only real disappointment is a further delay in the completion of the Seven Energy acquisition in Nigeria.

The company now says this transaction, which will add material natural gas production to the portfolio mix, will complete before the end of the year.

Broker Cantor Fitzgerald comments: ‘The company has made great strides in a short period of time, and 2019 should prove transformational with first production in Niger and completion of the Seven Energy deal.’

Shares says:
Exciting times at Savannah, keep buying.(TS)

[ifthecapfits] 03/10/2018 16:22

Tomorrow it is then ;)

[ifthecapfits] 03/10/2018 10:53

Stock seems quite tight today. Should hopefully get another move up.

[zengas] 02/10/2018 18:52

Just says when contacted by Africa Intelligence, the company declined to name the Geneva based trading group that is lending it $50m starting with $20m.

[bushman1] 02/10/2018 18:41

Savannah teams up with mysterious financial partner for Agadem

Africa Intelligence : 02 / 10/ 2018

did someone have access?

[andyforster1] 02/10/2018 17:20

Have you tried the company presentation on page 4 stating maiden dividend Q1 ???

[andyforster1] 02/10/2018 17:16

I don't post on savp very often but I watch some of your outlandish statements and question who actually listens to what you have to say ??? . Every question you pose, the answers are readily available in RNS's or in the media. I'm not sure if it's an obsession with arguments or wanting a lower price but I've seen your sort on many other stocks in my time. The general rule on these are they've sold at a loss or never bought and it ran away. Which one are you?? I hope you find closure on whatever it was but your unhealthy bashing here is not soothing your sole it's keeping your fire raging. Good luck

[shareideas1] 02/10/2018 14:04

They have committed to paying a dividend in 1Q19 out of the 7E cash flows. While the deal is only due to complete by year end, the company is still entitled to current cash flows as part of deal to buy out of effective insolvency

[plootocrat] 02/10/2018 14:00

What dividend? I can't find any reference to it in the half-year results, on the company's own website or anywhere else. And they haven't made a profit yet.

[divmad] 01/10/2018 13:24

You stirrer, Marty.

Meanwhile, mopping up cheap stock, eh? LOL.

[honestmarty] 01/10/2018 12:56

It's holding up surprising well.

The double tap of the failure to secure the RTO and the funding problems and loan , could have been much ,much worse.
The chances of a farm-in to Niger must be severely harmed by the RTO. Difficult to ask someone to stump up 250 million when next month the RTO collapses.
I suppose that explains the size of the debt being needed.

Gingenstein slouches towards Bethlehem.

[shareideas1] 30/9/2018 18:25

I am watching! Very much look forward to receiving it... but that's for Q1... in the meantime let's see what Zomo brings in the next week or two!

[honestmarty] 30/9/2018 18:20

Shareside1

Watch this space on the dividend.

[bushman1] 30/9/2018 18:12

Sharesidea. Please do not rise to the bait. Dishonest Marty is a deramper. He is on this board to create uncertainty in peoples minds. For goodness sake, rely on the facts you have been presented with. Thank you.

[shareideas1] 30/9/2018 17:40

The dividend will be paid in 1Q19 - it certainly hasn't disappeared

[seven7seven] 30/9/2018 17:37

A lot of news flows imminent. Not forgetting the 120 prospects across Savp's acreage, Amdigh1 EPS implementation, 52mboe EPS announced 7e closure, farm in partners, and the list goes on. What's not to like Marty?

[honestmarty] 30/9/2018 17:09

777, AK is astute?

His judgement failed him before, and that wasn't even Nigeria.

Let's not get carried away.

I don't see how the sudden need for an additional 50 million squares with 7E throwing off so much cash, never mind the famous disappearing dividend in Q1 2019.

[seven7seven] 30/9/2018 16:54

Marty are you not satisfied with the deal on 7e assets that has been put together by AK? Almost certain it'll add value to the share price AK is quite astute imho and the broker updates and notes speak volumes for Savannah. If a debt facility wasn't arranged then the possibility of another placing would've been on the cards, I guess all this common knowledge. All imho.

[honestmarty] 30/9/2018 13:52

Well done to anyone who banked a profit.
But a word of caution is warranted.

We learned little that wasn't already known.

A fancy development plan had already been flagged.

What we did learn was the need to borrow 50 million

And that the RTO still isn't signed off after 4 missed deadlines.

If it transpires that there is something rotten at the centre of 7E, the mess will be awful.

Gingenstein slouches toward Bethlehem

[seven7seven] 30/9/2018 13:14

It's good to see the usual suspects from the other board here. Looking good happy days ahead.

[buffythebuffoon] 28/9/2018 13:13

Yes.

m=Mille

mm = Mille x Mille

Buffy