Savannah Petroleum Share Discussion Threads

[divmad] 24/5/2019 22:18

Zengas, where is the valuation floor now, assuming the Seven E deal collapses but we are stuck with the enlarged share capital and just the Niger assets which have been a standout success so far?

[honestmarty] 24/5/2019 16:58

Sitting tight.

Why all the glum faces?

[zengas] 24/5/2019 16:26

Ashmore seemed to be long term sellers even before and after the last placing in late January. I wonder if they have continued to sell regardless and be or be part of the fall in share price to where we now are.

Add that to any PIs selling on uncertainty and trying to protect their capital....also any spreadbetters who im sure have also got knocked back and might be one cause for the recent heavy decline along with liquidity ?

[ghhghh] 24/5/2019 16:11

Re downside market cap was about £100m based on Niger pre Seven.

There has been considerable drill success since mid 2017 so uplift but flip side is taken longer to realise value via farm out or transportation.

Plus whatever can be salvaged from Seven assets via SS loan and 10.25% bonds and foot in door

Current cap is 880m shares x 18p = £158m

[laptop15] 24/5/2019 15:44

How much cash do we think they have? $23 million raised in Jan, what's left??

[gisjob2] 24/5/2019 15:39

An update from the company would be good :-)

[plentymorefish] 24/5/2019 14:11

I can almost smell a discounted placing.....the longer the delay, the more money is spent even if just on salaries!

[ifthecapfits] 24/5/2019 12:39

Don't know what this drop is about. But this is worth reading again. Average down time or run for the hills? Who knows. Seems run for the hills has it for now.

[nen2319] 24/5/2019 12:36

Showing as buys on HL but who knows?

[sunnybeachboy] 24/5/2019 12:09

Yes. 2 x 500,000 lumps

[nen2319] 24/5/2019 11:54

Or good news and they are trying to get people to sell like Marty 😀

[sunnybeachboy] 24/5/2019 11:44

Bid dropped to 17.5p bad news coming ?

[wardrv] 23/5/2019 15:14

Bad day for oilers, PMO down >11%, TLW down 7%, GKP down 9.6%, Genl 8.7%

[moho30] 23/5/2019 09:10

It's possible results not out as having a 'robust' discussion with auditors on the treatment of the cash spent so far on Seven. SAVP probably want to capitalise it as acquisition cost, but if any doubt in auditors mind on likely completion then they may have to take the hit and expense - which will set alarm bells ringing among investors.

[sunbed44] 23/5/2019 07:19

yes we have delay after delay but im still sticking with latest guidance on nigeria and niger if bad things had happened on either or both they would have to have told usnigeria 29 march savannah now expects that the Transaction will complete during Q2 2019, and the publication of a Supplemental Admission Document will follow in due course. Further updates relating to the Transaction will be published as appropriateniger 20 march early production from the Company's planned well test on the Amdigh-1 discovery (the first phase of the EPS, planned to be carried out in mid-2019) is expected to be transported via truck to the Agadem-Zinder pipeline tie-in point and, per Savannah's RNS dated 28 September 2018, is anticipated to deliver production of c.1kbd. Following evaluation of results from the Amdigh-1 well test, the Company intends to submit an addendum to the Feasibility Study which will reflect the relevant technical data from the well test campaign into the planned development scheme. The planned second phase of the Company's EPS continues to envisage a ramp-up of production to c.5kbd, associated with the construction of a pipeline from the Amdigh development area to the Agadem-Zinder pipeline tie-in point

[wardrv] 22/5/2019 14:22

Zengas, agreed, holding more than ever here, there's some herd instinct going on here, rounds of PI's selling causing a drop off causing more selling, nothing new. The majority of the delay to sign off so far has been SAVP amending the deal.

[plentymorefish] 22/5/2019 13:31

Your If should start with a capital I!....24 months and still not signed off by the GoN despite RNS' going all the way back to this time last year stating SAVP were 'highly confident' of closure in that particular quarter, followed by 'wash, rinse, repeat' each subsequent quarter. You'll know If the deal is coming as volume will pick up and so will buys. I'll wager that it won't be signed off this quarter either and the RNS on 28.6.19 will be a couple of lines to state that 'Good progress on the remaining Transaction workstreams continues' and the company expects that the transaction will complete during Q3 2019. Sound like a company that's got a grip of things to you?

[laptop15] 22/5/2019 13:16

Not if the 7 deals lands...lol

[wardrv] 22/5/2019 12:01

Interesting, does anyone know if all those 19.25p trades were really buys. So since everyone is having a pop at conspiracy theories my favourite option is that sign off gets delayed as long as possible to drive down the price to enable certain parties to buy in followed by sign of and quick sale. Naughty but nice.

[plentymorefish] 22/5/2019 12:00

Surely the best (current) short on AIM?

[tiers] 22/5/2019 10:43

Zengas you seem to be very informative, your view on all the recent posts on the other board? This is a bit worrying the company should say something.