Savannah Petroleum Share Discussion Threads

[honestmarty] 31/5/2019 16:43

No Divmad

If no RTO by last week in June, I can see a sell off in anticipation of a further delay RNS.

Who will jump first?

Great craic.

[divmad] 31/5/2019 16:31

Is this the last of the teens?

[jotoha2] 31/5/2019 16:08

Great if it goes to that level , enjoying the ride already , assume their qtr 2 ends end of June ?

[sunbed44] 31/5/2019 16:00

niger alone could be worth 1600p in 2 years subject to partner structure 800p base case

[jotoha2] 31/5/2019 15:46

Looks like the deal is a goer , they will have to let it go fairly soon , 89p will be first target for Hedgies and pals.

[sunbed44] 31/5/2019 15:38

be glad to see 35p my breakeven probs by end june 50/50

[honestmarty] 31/5/2019 14:36

Glowing comments from Malcy

Andrew must have splashed out on bacon baps and sausage rolls.

[nen2319] 31/5/2019 14:32

Savannah Petroleum. Malcy
An update this morning from SAVP who are another step closer to closing the Seven Energy transaction. Today they announce that the UERL buy-out is completed and that the company now owns 100% and therefore holds a 51% operated participating interest in the Stubb Creek Field. Good progress is being made elsewhere such as with Ministerial consent, documentation, Accugas debt restructuring and the Frontier swap.

With the company still confident that the deal will complete in 2Q 2019 they have said that no dividends or share buybacks will be made until after the transaction has closed. The same goes for the the Amdigh well test which will also go ahead after this deadline. With the PSDM seismic processing on R3 East now finished and ready for interpretation there is much to look forward to, not least a new drilling campaign in Niger. At long last patient shareholders in Savannah can look forward to finalisation of this massive deal and the rewards it will bring.

[sunbed44] 31/5/2019 14:16

stunner and agree

[plentymorefish] 31/5/2019 14:02

No chance....but there's every chance there will be an RNS around Christmas time stating that the company are 'highly confident' the 7E deal will complete during Q1 2020!

[sunbed44] 31/5/2019 13:57

100p christmas?

[itsriskythat] 31/5/2019 13:49

Well done in buying at the recent lows. There are many other times it doesn't work out. Are you always so lucky?

[divmad] 31/5/2019 11:50

By luck rather than skill I bought a chunk last week at 17.4p as I could hear the pips squeaking louder than ever.

[honestmarty] 31/5/2019 11:42

Divmad

I think it is just a very complex deal and will take time.

I bought back in too early, entirely my own fault, but no way I'm selling now.

[divmad] 31/5/2019 11:32

Maybe all this delay has been a ruse to allow certain groups to acquire really cheap stock from frustrated PIs. There's no doubt that quite a few PIs have lost quite a bit of real money here in the last six months or so by bailing out finally.

[sunbed44] 31/5/2019 11:29

wonder if they will buy back 600,000,000 to get the share in issue back to the number we were at before suspension in june 2017

[honestmarty] 31/5/2019 11:22

When(LOL) RTO completes, special dividend or buyback of shares becomes an option.

[honestmarty] 31/5/2019 11:20

Sunbed

Inappropriate in context of previous statements when dividend should have been announced in results.
It was assumed RTO would have been completed, and cash generative.
Delay in RTO has scuppered that for now.
Share buy back might be better given current share performance.

[sunbed44] 31/5/2019 11:16

board sees it inappropriate to pay a dividend but will consider paying a dividend contradiction madness you could not make it up

[sunbed44] 31/5/2019 11:14

but could go bump if nigeria falls on its bum jam tomorrow

[divmad] 31/5/2019 11:13

Don't you just love those double negatives.

[nen2319] 31/5/2019 11:12

Yes you can at this price. Must be selling at a loss?

[plentymorefish] 31/5/2019 11:05

can you blame them?