Savannah Petroleum Share Discussion Threads

[gray1107] 14/12/2017 10:34

40-50p might disappoint some given the wild figures being thrown about but back in reality this leaves us fully funded for a five well drilling campaign (vs original 3) with 100% ownership intact (vs 50% or so) and a production base to fallback on. I fully expect AK to acquire further assets along the way now that we have such a large production base.

We can expect some great newflow running up to spud and beyond, should come thick and fast.

[parisv] 14/12/2017 10:22

from this RNS

"LR has certified average 2018-2022E net free cash flow attributable to Savannah (following completion of the Agreed Transaction) from the Uquo and Stubb Creek fields of c.US$88m p.a. (see annual breakdown referenced below), as well as an NPV10 of US$548m[i];"

That's £65.46m net to savp each year loads of cash!

[trulyscrumptious] 14/12/2017 10:17

There will also be a dividend in the future which makes it more appealing as a long term hold.

[ifthecapfits] 14/12/2017 09:20

I'm not so sure about the rush for the door. Personally, I'll sit tight and see how the Niger drilling goes.

[lithological heterogeneities] 14/12/2017 09:04

There will be a huge rush for the door on re-list as this is just terrible dilution for the drilling campaign.

[ifthecapfits] 14/12/2017 09:03

Hmm. Not great.

[lithological heterogeneities] 14/12/2017 08:57

Paris,

We were already promised a $250m JV before this absolutely waste of time.

[lithological heterogeneities] 14/12/2017 08:55

"the indicative price range has been set at 40 pence to 50 pence per Ordinary Share...The final price for the Placing (the "Placing Price") is expected to be announced on or around 18 December 2017"

[parisv] 14/12/2017 08:46

ii's willing to play premium for $250m says a lot. That's a huge sum of money. Especially when they could play hard ball and let us get booted off of AIM!

[haideralifool] 14/12/2017 08:44

40p-50p.

This time next year Rodney.

[lithological heterogeneities] 14/12/2017 08:43

I am sure they waited for my regular "still nothing" morning post before issuing an RNS. :0)

[gersemi] 14/12/2017 08:36

19TH DECEMBER 2017 - SUSPENSION LIFTED

[honestmarty] 14/12/2017 07:42

Toujours rien

[honestmarty] 13/12/2017 23:26

Michael Lynch-Bell

Ex-EY, a real heavy hitter.

They have cleared out the old board.

It must be a done deal.

When do we get a vote, and does anyone think my 475k could swing a rejection?

[diversification] 13/12/2017 22:08

19th equity commitments

[honestmarty] 13/12/2017 19:25

The 12th was the bond holders date, anyone remember what the 15th was about?

[honestmarty] 13/12/2017 19:14

7E have announced that 90% of the note holders have been locked up.
(Given it’s Nigeria I’m stunned it isn’t 100% 🤩🤩🤩🤩9321;)
I’m waiting for the problem.

Will the wrap party be Xmas jumpers only???

[buffythebuffoon] 13/12/2017 15:04

Skippy, I accept you mean well.

I’ve been spreadbetting for over 15 years and automatic or non automatic rollovers are obviously relevant at the end of a spreadbet.

If you have got your information from the customer service team, then based on previous communications from them, they are quite possibly wrong. You need to talk to the corporate actions team (who are usually too busy to talk when you call) who will call back.

I’ve never had a spreadbet that expires with a company in suspension before, so others have more experience of that. Certainly rolling a bet at zero would give you all the upside, but you would surely sustain a loss on your entry price.

Buffy

[thelung] 13/12/2017 14:50

It can be up to 6 months after a delisting that you're asked to provide 100% margin - depends on the SB company. I have a position which is still open 2 years after delisting, and it continually rolls at 0, and will do until it ever returns to market.

The IG staff have some weird and wonderful names :-)

[skippy176] 13/12/2017 13:44

Buffy,

Have you had a confirmation email from IG that states that automatic rollovers are active on your account (that was the first step I did). They sent me an email saying this :-

Dear Ms XXXX

This serves to confirm that automatic rollovers have been enabled on account XXXXX.

If you have any further queries, please do not hesitate to contact us. Alternatively, we've recently launched our new Help & Support site which gives you answers from our huge knowledge-base, online community, and education hub.

Regards,

Anda Titi

Trading Services

IG

T 0800 409 6789 / [phone]
F 0207 390 3816
E [e-mail]
C community.ig.com

I then phoned them and spoke to some one who said that my December 2017 SB would roll over on 19th December so nothing would change from what's being happening since June. I then replied to the above email to confirm that my Dec 2017 SB would roll over and they confirmed yes.

I don't know about the margin - maybe they haven't asked me for any increased margin as I have a guaranteed stop in place.

[thelung] 13/12/2017 12:13

Rolling the bet to the next period is common place, as is marking it at 0 / requiring 100% margin. The timing of marking it to 0 is uncertain.

[buffythebuffoon] 13/12/2017 11:43

Interesting skippy. I repeatedly asked them, and after some customer service person reporting secondhand from the corporate actions team (telling me the bet would go to zero!), the CAT emailed me to say that the intention was to replicate the benefits of direct share ownership.

Great I thought, I won’t lose my spreadbet. Then I noticed the next line that said their actions depended on what information they were given by the market SAVP were listed on.

I’ll be delighted if they roll the bet on 19th Dec. Hopefully the SAVP meeting will take place before then, and we, and IG, will have some clarity about the date of relisting.

Buffy