Savannah Petroleum Share Discussion Threads

[alamaison5] 13/2/2019 10:01

Honest: Spot on! Election...
If the actual president loses, then back to square one. 12-month delay at least.
Overthere Presidents are like the Pope. They need to give their blessing on all sort of deals.
No signature = no deal...
How do you think they finance their lifestyle these dictators, hey?

[honestmarty] 13/2/2019 09:15

Hi Greggor

Too mean for L2.

The 2.5 million buy order, has it been dealt and will a delayed trade pop-up later?

Election results might help, plus we could do with a work programme update on Niger along with new seismic results.

The surpise of the quarter could well be a farmout RNS.IMHO

[greggor] 13/2/2019 09:07

This just briefly went into auction and a 2.5m buy order popped up on level 2 at 26p so possible a decent RNS about to land.This should be 30p at least at moment.

[greggor] 12/2/2019 14:07

This is going to move back to 28p - 30p soon,level 2 has flipped over very strong to the buy side.Bargain under 30p.

[sunbed44] 12/2/2019 13:24

AK purchased 1,367,000 shares in the recent placing at 28p

[alamaison5] 12/2/2019 08:38

BID/OFFER
25.00p 26.00p
DAY CHANGE
0.00p (0%)

[alamaison5] 12/2/2019 08:36

There is at least one person who made money on JSE and SAVP, twice. It's me losers, lol.
Good luck with your ramping...
So where was I?
SAVP keeping Seven afloat: how much does Seven needs before the deal if this ever going to happen...
Another £20M/£40M? MORE??

Testing, lol. This has been dragging on since October last year. Since... nothing booked, not even sure it's commercial yet...

Nigeria election, heard of it?

Yes so, 24/25p? Perhaps even less...

[zengas] 11/2/2019 15:08

Savp updated their page again today (11th) showing Ashmore at 5% with 44m so clearly not in line with what the latest RNS says.

Still believe they omitted VR Global first time around when i looked and posted, but will give the benefit of the doubt.

[bent banana] 11/2/2019 15:03

Ashmore now down to 25,065,235 i.e. 2.8491%
Sold over 30m from Zengas's chart

[shareideas1] 11/2/2019 14:43

The recent equity raise was much smaller than the potential warrant issuance - albeit with less cash coming in so irrelevant in enterprise value terms...

[haideralifool] 11/2/2019 14:28

But if that perceived overhang has Ben removed surely it's just been replaced by the recent equity raise? Unless that had some lock in.

[mount teide] 11/2/2019 13:17

Pleasing to receive confirmation that over 250 million warrants have expired.

gis - ignore him - he's a nickel and dime trader who carries out minimal research and jumps in and out of positions faster than a gym step-class instructor.

[thelung] 11/2/2019 13:05

He has to kill time walking up and down the beach flogging his sunglasses and laser pens :-)

[gisjob2] 11/2/2019 13:02

Alamaison5, can you read ?

Niger - success in 5 out of 5 wells
Testing in the next few months, Commercial and EPS to be started.

Nigeria - Deal

I would prefer to believe AK who has a huge wedge of his own cash invested here than you.

Don't keep pretending to be so obtuse.

[alamaison5] 11/2/2019 11:30

What happened to the Niger oil discovery?

Testing, no testing?

Commercial, not commercial?

Nigeria deal from last year; deal or could it still be a no deal?

Seven energy; more cash or no more cash to stay afloat? $43m given so far...

This is the kind of stuff rampers will NEVER talk about, lol.

I found the 8m shares sold on Friday!

hxxp://www.share-talk.co.uk/announcements/rns/savannah-petroleum/holding-s-in-company/201902111235066570P

More to come?

[thomasthetank1] 11/2/2019 11:15

Morning all - please see below Mirabaud's comment on this morning's Savannah Petroleum announcement.

Savannah Petroleum (SAVP LN) has announced that the 133m warrants issued as part of the US$125m equity raise in late 2017-18 have now expired. The 12 month warrants were issued in February 2018, and had an exercise price of 35p/shr. The company no longer has any warrants outstanding, with the only dilutive instruments being employee incentive options. In our opinion, expiry of the warrants removes a perceived overhang in the market, clearing the path for the shares to move up through 35p/shr. Furthermore, whilst there will be no cash inflow from the warrants, the company remains well funded with US$23m of fresh equity raised in Jan and a further US$90m of cash due on completion of the Seven transaction in Q1 2019.

[honestmarty] 11/2/2019 10:25

Put simply

If we can start to generate adequate cash.

This RNS is good news.

[zengas] 11/2/2019 10:06

Glad to see the warrants didn't kick in.

From the adm doc a year ago, the potential was for 1145m shares in issue ie an investment in SAVP by AAIM for up to $90m + the entire warrants.

Since that, Savp were able to renegotiate the deal for an extra 25.1 mmboe 2P/2C in offset cash costs. Increase their holding substantially in Accugas from 20% to 75%. Sell 25% stake to AAIM for $70m and although a $23m placing done at 28p for 62.8m shares, it has resulted in 879.8m shares in issue compared to the 1145m envisaged.

At the same time the new deal structure for the Nigerian assets should give an increase of over 50% in forecast free cash flow of around $153m for next year compared to $98m previously. (Up to $115m compared to $78m this year).

[zengas] 11/2/2019 10:05

Glad to see the warrants didn't kick in.

From the adm doc a year ago, the potential was for 1145m shares in issue ie an investment in SAVP by AAIM for up to $90m + the entire warrants.

Since that, Savp were able to renegotiate the deal for an extra 25.1 mmboe 2P/2C in offset cash costs. Increase their holding substantially in Accugas from 20% to 75%. Sell 25% stake to AAIM for $70m and although a $23m placing done at 28p for 62.8m shares, it has resulted in 879.8m shares in issue compared to the 1145m envisaged.

At the same time the new deal structure for the Nigerian assets should give an increase of over 50% in forecast free cash flow of around $153m for next year compared to $98m previously. (Up to $115m compared to $78m this year).

[divmad] 11/2/2019 09:56

Happy with that. Less dilution with the recent placing than with the warrant deal, but cash still in the bank.

[alamaison5] 11/2/2019 08:38

This is why SAVP had to bail them out with $20m once and again with another $23 recently at SAVP holder expenses, lol.

A money pit it's called in my language...

Sold SAVP and moved on.
No news = down. This week, next week and the week after.
xxx

[shareideas1] 11/2/2019 07:37

Likely helps explain the size of the placing the other week... with the shares trading well below the warrant price it was prudent to raise enough then to fund the business through to 7E completion without any cash constraints... post completion the company is cash up and ready to go with Niger EPS and exploration (plus a nice 3-4% dividend) ...