Savannah Petroleum Share Discussion Threads

[haideralifool] 23/1/2019 18:48

That could stuff a fair few brown envelopes. Not that I am implying this would ever happen, especially not in Nigeria.

[timberwolf3] 23/1/2019 18:14

Use of proceeds of the Placing

At present, the Company intends to use the net proceeds of the Placing to fund working capital and general corporate purposes. The very nature of the oil and gas industry in which the Group operates means that it will need to manage certain events which are outside of its control.

[zengas] 23/1/2019 17:56

Have they sounded out the warrant subscribers ie 133m at 35p with just 2 weeks to do so, which would have brought in about $60m max ?

$23m between today and tomorrow at the current £1/$1.30 ex rate and if at a price range of 30-35p = 50.5m - 59m new shares.

[bad gateway] 23/1/2019 17:28

You're on the wrong thread ala, if you pop over to the other one you'll find me warning these were looking toppy yesterday. The channel was almost as obvious as the one i warned you about with LEK.
Will refilter as you obviously have't changed.
Hope for the holders these get a 30p+ build that should shut ala up again for a while.

alamaison523 Jan '19 - 17:19 - 220 of 221 (Filtered)

[timberwolf3] 23/1/2019 17:26

Will be a poor show from the directors if there isn't a premium to current share price

[wardrv] 23/1/2019 17:03

Looks good news, I can't see the directors putting in more than $750k between them if it were looking like the deal was on thin ice, in fact I suspect this is a bit of a friends and family package pre deal as I can't imagine you could snap up 7% of the company's shares without pushing the price well above current levels.

[bad gateway] 23/1/2019 16:57

Yes but they've been continuing to expect for the best part of a year now that I'm aware of.
The important part (imo) will be the price they get for the bookbuild as that will indicate the amount of belief the city holds in their claims of completion this Q.

[professor x] 23/1/2019 16:48

It's 7% of the market cap!

This is the important part:

Seven Energy Transaction Update

Further to the Company's announcement on 21 December 2018, Savannah confirms that it remains on schedule to sign the Implementation Agreement by the end of January 2019, with the wider Seven Energy Transaction continued to be expected to complete during Q1 2019. This will be followed in due course by the publication of a supplemental admission document. As announced in previous regulatory updates, the Company expects a cash inflow of US$90m upon completion of the Seven Energy Transaction.

[bad gateway] 23/1/2019 16:47

Seems quite a lot if they're expecting $90m end of 1st Q? To be fair Honestmarty did predict this last year just took a while to play out.

[nen2319] 23/1/2019 16:43

Placing to fund working capital. Raising $23 Million.

[thelung] 22/1/2019 15:19

It'll look a bit bottomy when all is revealed (whenever that may be.....)

[bad gateway] 22/1/2019 13:51

Would be good for the deal to be done soon imo. Starting to look toppy again so no more delays please Knotty.Get it done this Q.

[buffythebuffoon] 22/1/2019 12:07

By March 31st, at the very latest, we’ll find out if some people’s general view of the wisdom of dealing with Nigerians will be proven prescient or not.

Personally, I’m confident the deal will be signed off. As long as the right people receive an appropriate sized envelope, this will get done.

Buffy

[thelung] 22/1/2019 09:15

It's the IA which is forecast to be signed this month, and the deal itself to be signed in Q1. All the agreements which site behind the IA are "100% finalised" according to AK.

[haideralifool] 22/1/2019 09:14

They've gotten wise to the deadline thing and are talking about Q1, so I guess a mite early to even be starting a countdown.

[thelung] 22/1/2019 09:04

TH share price will tell you whether it's going to happen or not.

[divmad] 22/1/2019 09:00

Are we going to have to count the days down yet again to another end of month deadline for this deal?

[bushman1] 18/1/2019 11:15

Sounding out Nigerian friends in Lagos the concensus is a Buhari re-election.

A televised Presidential debate is taking place tomorrow but no certainity at the moment he will participate.

Where have we heard this before .....

SAVP's end Q1 timing ~ hopefully much sooner should Buhari and his cabinet retain power ~ taking a pragmatic point of view

[honestmarty] 16/1/2019 14:55

Just bought final 344k.

See you in Spring

[honestmarty] 16/1/2019 08:59

I'm finding it hard get a quote to buy.

I had to go NT for the 80933 trade.

I have a £17k trade sitting NT for 10 mins.

[mount teide] 11/1/2019 16:56

Mirabaud's detailed new note now up on Savannah's website


Getting more for less! 11th January 2019




'SAVP is likely to reignite talks with potential farm-out partners, with a view to bringing in fresh capital to accelerate drilling activity.

At this stage, we expect the focus of any talks to be around exploration carve outs, with SAVP likely to be keen to carry the appraisal/development piece on a standalone basis.

To conclude on the Seven deal, in our opinion, SAVP has skilfully picked over the carcass of Seven Energy, working with its partners (both local and financial) to pull together a deal that works for all stakeholders.

Recent news brings the deal into its final form from a commercial perspective and clears the path for the transaction to complete later this quarter (the company expects the Implementation Agreement to be signed this month, with deal completion in Q1).

The creation of long term value in Nigeria has much to do with structuring. Getting things right from the outset is paramount and, whilst it has taken longer than expected, we think the Seven deal in its current form is far superior to the one agreed a year ago.'

[shareideas1] 11/1/2019 14:49

Interesting to see 1m shares crossed earlier at 33p ...