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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Savannah Petroleum Plc | LSE:SAVP | London | Ordinary Share | GB00BP41S218 | ORD GBP0.001 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 8.90 | 8.16 | 8.98 | - | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
---|---|---|---|
17/8/2017 15:23 | Courtesy of "daysleeper" from lse today: 15 AUG 2017 These banks are set to write-off over $445m Seven Energy debt Creditor banks to Seven energy may have to take provisions on a $445 million to the company, despite a potential sale to Savannah petroleum. Seven energy, had taken the loan from a consortium of banks led by Ecobank, FCMB, and Union Bank in 2015 to provide working capital for Accugas, one of its subsidiaries. The company, currently has a negative cash flow and is such is unable to service its loans. Savannah petroleum, which intends to purchase Seven energy, is also in a tight spot as it made an $8 million loss in 2016. Taking provisions on the loan will leave the banks in a tight spot as other sectors of the Nigerian economy are struggling from the recession. Seven Energy is not alone A massive drop in crude oil prices, and in some cases crude oi production volumes have left many players in the oil industry struggling. Oando Plc, for example bought upstream oil assets at the peak. Oil prices sank to a low of $28 in 2016 from a peak of $114 in mid 2014. The subsequent drop in oil prices led to a drop in the valuation of the assets and a fall in production. Oando was forced to sell off non-essential assets and a stake in its downstream arm. Seplat another player in the oil industry declared a $28 million loss for the half-year July 2017 due to the shut down of the Forcados export terminal for repairs after a militant attack. The advent of shale oil has also worsened matters as they are able to produce oil at a much cheaper cost. Consumers are also increasingly focusing on renewable energy which is more environmentally friendly Seven energy, founded in January 2004 is an integrated oil and gas company with assets located in the South Eastern region of Nigeria. Savannah petroleum is a UK based petroleum company with operational assets in the Niger region. | lithological heterogeneities | |
17/8/2017 08:13 | 4.4m S.L shares sold. This is why I posted my possible 40p placing scenario on 27th July (on lse) "When the share price was rising i felt that there was a seller into strength as usually the tight supply would give a hefty lift to the s/p. This could have been profit taking from the 23p days or someone that had a whiff of the deal and didn't want to be part of Nigeria or someone who had an idea of any future placing/pricing ?" | zengas | |
17/8/2017 07:57 | Still no re-list | lithological heterogeneities | |
17/8/2017 07:56 | Eh? Damn... Buffy | buffythebuffoon | |
17/8/2017 07:42 | Tr1 holdings RNS out this morning. | lithological heterogeneities | |
16/8/2017 22:23 | She's been in and out of meetings for a few weeks, unable to respond to investors because she's going to Nigeria. Makes sense. Not. Buffy | buffythebuffoon | |
16/8/2017 20:12 | email from SAVP posted by Agedem today: From today at 3.33pm Today 18:05 Thanks for your email and apologies for not being in touch, I'm about to travel to Nigeria so have been in and out of meetings. Rest assured that we continue to work hard on the RTO and preparation for drilling; the whole team remains very excited about both of these events. I'm sure you understand that until we make an announcement to the market I can't go into more specifics than that. We will update via RNS as soon as we can. Kind regards Jessica | lithological heterogeneities | |
16/8/2017 14:49 | Agreed, the deal needs to realize immediate value that can be capitalised on or it should be canned again. LH is right that we need to relist soon as the RTO now seems to be interfering with our drilling schedule as the company is apparently unwilling to drill while the deal is being negotiated as results would change the value of the company and thus the terms of the deal. | gray1107 | |
16/8/2017 12:25 | and I agree with nmgs agreeing with me. | lithological heterogeneities | |
16/8/2017 09:53 | For once I'm with lh. The shares HAD BETTER trade at a premium when they are relisted otherwise I'd think managements position becomes untenable and should be removed. | ngms27 | |
16/8/2017 09:37 | And still nothing.Just filter me as I am going to continue whingeing every day we are suspended. | lithological heterogeneities | |
16/8/2017 09:36 | What a load of tosh | lithological heterogeneities | |
16/8/2017 08:49 | Lithological, you're like a broken record ! Andrew Knott has been telling the market for months that he was looking at a corporate deal. If you didn't realise this may mean a suspension you've only got yourself to blame ! | gisjob2 | |
16/8/2017 07:42 | Hence I need a re-listing, not pointless speculation.All the speculation in the World is not going to allow me to sell any shares. | lithological heterogeneities | |
16/8/2017 07:40 | I have a large amount of money suspended in savp for a deal I do not want. | lithological heterogeneities | |
16/8/2017 07:39 | The difference between Angus and savp is one of them is actually listed so you can sell up if you are not happy. | lithological heterogeneities | |
16/8/2017 07:36 | And still nothing. Absolutely sod all. | lithological heterogeneities | |
16/8/2017 07:30 | So when I view your posts where your active elsewhere: "I hope so as OGA approval and announcement of the "Octopus" will propel us 8 legs higher to atleast 50p imho and we will all be squids in." They are not speculative!! My posts are relevant to the company I am invested in and more often than not try to provide an insight to proceeding in what is otherwise a closed door transaction we all have limited knowledge of. Isn't this the hole point of this board or is it for facts only presented in an RNS? Viewing your posts gives a great speculative insight into your contribution or lack their of ;) Everything in my above post is taken from various articles as statements of fact when doing lots of research, you should try it some time! | diversification | |
16/8/2017 03:31 | who the hell cares about all this pointless speculation. we just need to re-list. | lithological heterogeneities | |
15/8/2017 22:28 | hxxp://www.vanguardn The Chinese seem to have one hell of an appetite for the Nigerian gas assets. Interestingly I discussed on the Lse board a few weeks back that phillip ihenacho stepped down as CEO of Seven Energy as he intended to invest in the restructured company therefore having a conflict of interest in any negotiations between SE and its new investors. One of Phillip Ihenacho primary investments is Azura power holdings. This link tells us: "He further stated that current efforts to connect the eastern part of the country, where there are a lot of gas reserves, with the west, where high consumption demand exists, demonstrated NNPC’s readiness to impact positively on the power sector." Azura power holdings have also signed an agreement for Seplat to provide a gas supply to the new power plant, back in 2014. This maybe why Phillip has such an interest in Seven Energy. SE gas portfolio has so much potenial its untrue. | diversification | |
15/8/2017 09:44 | Yep, if you've been through an rto before you will know there's f all you can do. Speculating, harassing the board etc will get you nowhere. You just have to wait. | parisv | |
15/8/2017 09:26 | LH, not being unkind but we are all as eager as you for news and as well as being able to see if news has popped, so you don't need to come on every morning just to tell us there's been no news. There is nothing you can do right now as even sending the BoD's an email is pointless, as they can't reply to you so just sit back, relax and await news just like the rest of us. | dorset64 | |
15/8/2017 09:21 | Who's a clever boy | diversification | |
15/8/2017 07:25 | And still nothing. | lithological heterogeneities |
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