Savannah Petroleum Share Discussion Threads

[ifthecapfits] 25/1/2018 11:31

Just done a dummy sell - and it would let me. So no don't think suspended. Chart above though shows no trades as yet today.....the deep breath before the surge - hopefully :)

[rampair] 25/1/2018 11:24

My account is showing this as suspended. Does anyone else have this?
Hopefully just while the buyback is underway- haven’t seen any notices
though

A puzzle.

[thomasthetank1] 24/1/2018 09:46

Mirabaud note on this morning's SAVP announcement below:

As part of the acquisition of Seven Energy£s integrated gas assets, Savannah Petroleum (SAVP LN) has launched an exchange offer for Seven£s 10.5% SNNs which will see SAVP buy out Seven£s bondholders for cash and shares. The exchange offer is conditional on the participation of 90% of SNNs by value which should be a formality given 92.9% have already entered into a lock up agreement supporting the transaction. In terms of timing, the expedited exchange offer will expire on 6 Feb and is expected to settle on or about 9 Feb, at which point the SSN consideration shares and second tranche placing shares will both be issued.

[ifthecapfits] 24/1/2018 08:25

Slowly, slowly.

[rampair] 17/1/2018 18:01

Perhaps a Tangent? We could discuss the implications of their being a 92.9% takeup Of
the 2021 Senior notes? I feel that with this getting over the hurdle of 90% we are in danger of grabbing a decent victory out of this deal.
The money due to come in to the company from oil and Accugas gives us a brilliant advantage over the position we were in prior to the suspension.
Obviously this gives opportunity to buy into other blocks, I personally don’t like investing in Nigeria! I don’t have a huge stake , meaningful for our account but not exactly institutional level!
Are others hopeful that once this bond period is over - the shares should show positive momentum once again? Or, are people looking to get rid of them?.

Our current intention is to get a first dividend ( hopefully this year)and see how the company develops- I would like to see SAVP with a perhaps B.B. bond rating?
Seven was down to CCC.

R.

[buffythebuffoon] 17/1/2018 15:03

Is that an answer to bushman?

Buffy

[lithological heterogeneities] 17/1/2018 14:05

still nothing. ;0)

[buffythebuffoon] 16/1/2018 15:36

You were talking about lh in your previous post!

“IH. We've all followed your posts over the last many months...

You owe us I believe an honest update as to ( a ) how many shares you own and ( b ) what is your price average. ?”

Brimsley can go and....

Buffy

[bushman1] 16/1/2018 15:01

You go first mate. I've been involved in SAVP since the first presentation in London. You protect a de ramper like Brimsley then I hold you with the same absolute disrespect. This board would be a better place without having to read Brimsleys inane posts, an absolute waste of everybody's time.

[buffythebuffoon] 16/1/2018 14:47

..and (c) Your blood type (d) A sample for DNA testing.

How many shares do you own bushman, and at what price did you buy each tranche?

Buffy

[bushman1] 16/1/2018 14:41

IH. We've all followed your posts over the last many months... You owe us I believe an honest update as to ( a ) how many shares you own and ( b ) what is your price average. ?

[ryan83] 16/1/2018 13:04

Suspect it will hang here until confirmation of drill campaign

[lithological heterogeneities] 16/1/2018 10:45

I suspect that most PI's are steering well clear after this shambles and they won't buy enough shares per day to move this anyway.However,once the deal is fully complete I expect to see alot of Institutional buying once all the risks have been removed and the share price will start to move with this significant daily buying.

[honestmarty] 16/1/2018 10:24

Very surprised by the total lack of interest here.

[thomasthetank1] 16/1/2018 09:04

Mirabaud note on SAVP this morning.

Savannah Petroleum (SAVP LN) has provided an update on its exchange offer to Seven Energy’s SSN bondholders, confirming that the scheme will commence in the coming days. The offer, which will be launched within a week, will remain open for at least ten days (down from the twenty days previously assumed), meaning that settlement is still anticipated in early Feb. This will mark a major milestone in the transaction, triggering the issuance of the SSN consideration shares as well as the conditional tranche of the placing shares (which will be admitted to trading shortly after), and effectively handing the keys of Seven Energy over to Savannah. Encouragingly, as of Friday 12 January, 92.9% of Seven’s SSN’s holders had acceded to the amended lock-up agreement – up from 90.2% on 22 December – comfortably in excess of the 90% threshold required for the exchange offer to succeed.

[rampair] 16/1/2018 08:40

Re:Bonds if anyone has a copy of the Terms and conditions of the SSN 10.25% Seven energy notes, it would be useful to know if we have cleared every threshold in those terms to make it so that they were all cleared up. Although there’s usually a small number of “missing “ owners 92.9% acceptance in a case like this is pretty good.
Ironically if the 10.25% still pay out they would be a decent income play!if a little illiquid. As they are now backed by an entity with much less debt & the same potential
income plus the drills in Niger.
I wonder what rating the likes of Fitch and co are going to give to SAVP?
Seven got to ccc I believe ( from memory) I would hope that SAVP would get a fair bit higher than that.

R.

[toyin] 16/1/2018 08:18

No not at all, just wondering why you are unduly interested in why you have an issue with the article. I cannot find anything detrimental regarding the website. If you would take the time to point me in the right direction re a link or article it would be appreciated.

Many Thanks

[honestmarty] 16/1/2018 08:06

You seem unduly interested in Pizza Face's good name toyin.
As I said, a little research.

[honestmarty] 16/1/2018 08:04

Wheniamfree
Yes, my issue was clearly Share Prophets and Pizza Face.
If Mr Newman has given up singing and is now writing cheap financial click bait, good luck to him.

[toyin] 16/1/2018 08:01

honestmarty

So what your saying is a website that weeds out fraudsters and charlatans because the AIM regulators don't seem to be able too, is a bad thing? Surely if they have looked at SAVP and see it as a speculative buy that can only be a good thing.

I have read the report and it was very positive, cautious but positive. So what do you know that would lead you to believe he would not be welcome to the country club as you put it. I only ask because if I am missing something I would like to know.

Many Thanks

[wheniamfree] 16/1/2018 07:57

honestmarty the article was written by Gary Newman not TW.

[honestmarty] 16/1/2018 07:21

Positive update
Helps reduce uncertainty and gives this a push further down the track,

A small spike on the open?

Too technical perhaps

[lithological heterogeneities] 16/1/2018 07:10

RNS out Update on Exchange Offer

[toyin] 15/1/2018 17:27

That doesn't answer the question. Could you expand as I don't understand what he has done.