Savannah Petroleum Share Discussion Threads

[honestmarty] 17/4/2019 15:12

Big surge in trades

Any word from SAVP HQ?

[honestmarty] 17/4/2019 13:07

Pick in volume but on the buy side.

I'm assuming the word will arrive intra-day Nigerian time.

That could trigger a serious amount of buying before we see an RNS.

I'm betting this is the bottom.

[itsriskythat] 17/4/2019 10:50

Correction: Good to learn about his thinking, because Kachikwu needs to Savannah's Seven Energy deal to Buhari for his signature.

[itsriskythat] 17/4/2019 10:39

Kachikwu speaks his mind

An extensive interview of Nigeria's Minister of Petroleum live in the studio of Nigeria's Good Morning TV yesterday:



Interview starts talking about petrol subsidies at 38:30, then specifically on gas sector issues at 60:30, and on encouraging private sector investment at 1:53:30

Good to learn about his thinking, because Kachikwu will present Savannah's Seven Energy deal to Buhari for his signature.

He says he has the powers to recommend a deal to Buhari, but oil sector governance means that Buhari must sign it off.

Interesting point that Buhari has previously had Kachikwu's job and himself been the Nigerian minister of petroleum resources.

[honestmarty] 16/4/2019 14:59

Appears to come out of Celicourt.

But all snake oil salesmen.

Remember poor Jimmy, LOL.

[bushman1] 16/4/2019 14:55

HM more from Agadem on LSE

[alamaison5] 16/4/2019 11:50

No one believes in these director ramps, lies, misleading deadline/info.
Seven is a bankrupt company and SAVP will soon to be as well if they keep bailing them out.
BIG mistake they've made.

[honestmarty] 16/4/2019 09:25

Pretty grim alright.

Rumour it is just the Ministerial consent holding it back.

I suppose it will come intra-day so a surge in buys will be the signal.

Anybody have a cat they aren't too fond of?

I could do with a bounce.

[nen2319] 16/4/2019 08:50

3 year low? Balls of steel needed now!

[divmad] 15/4/2019 19:17

Thank you.

[swindon41] 15/4/2019 16:17

Very very very frustrating waiting for the 7E deal to complete and totally understand why pi's throwing in the towel and moving their hard earned elsewhere....but it feels like we've reached capitulation stage and that's often a signal for better times round the corner. I've recapped my rationale for holding and added more:

1 23.5p is almost 20% below last 28p placing when CEO bought over £300k more, alongside other BOD and institutional investing. They've done a lot of DD to trust putting more in at 28p.
2 delays in completing, yes. But one by one the boxes are being ticked. Implementation agreement commits parties legally, and 7E provided with liquidity as part of this agreement but SAVP have legal recourse and surety.
3 Re-elected President will want this deal completed as signal of Nigeria's intention to facilitate business. Yes, we know of the country's apparent reputation for corruption ( where is immune please? Ukraine, Egypt, UK, USA?) but I'm taking some comfort from size and strength of Institutions backing the Deal inc World Bank. The new Head of WB is likely to be supportive rather than anti on reading his resume ). He's anti established countries like China getting aid.
4 the prize for completion to all parties is v significant - $90M cash flow to SAVP among others.
5 Drilling success in Niger to balance the 7E operations in Nigeria. If the very worst happens, can SAVP deal with it? Yes, it can.
6 skin in the game - AK career and huge part of his personal finances on the line on seeing this through now.

DYOR but imho at 23p this is a good time and price to bet on the risk of 7E completion. Good luck either way.

[xxnjr] 15/4/2019 13:50

last year, FY Results came out on 23 March 2018.....

[bushman1] 15/4/2019 13:48

Divmad, I have done, last week, no reply as she was travelling at the time. I will update here if I hear back.

[honestmarty] 15/4/2019 09:33

Jessica is off my Xmas card list.
Increasingly pointless replies.
Strangely the lack of PR gives me a little hope.
It's as if they aren't worried, just easing it over the line.

Volume has plummeted.

I think the current silly price was achieved by over-extended PIs offloading at any price. That has dried up.

Who knows we could even rally a bit without news?

I believe the dividend is key to reassure the wider market. Even signing off the RTO may disappoint but could be a trading opportunity.

[divmad] 15/4/2019 08:25

I might say the same to you, Bushman, as you have much more to lose here than he does, by all accounts.

[bushman1] 15/4/2019 08:17

Dotting the i's and crossing the t's. Worth your penning a note to Jessica HM ?

[honestmarty] 15/4/2019 08:03

2 weeks later
Still nothing.

[honestmarty] 10/4/2019 16:32

I hope you are right.

[honestmarty] 10/4/2019 16:32

I hope you are right.

[itsriskythat] 10/4/2019 16:31

The majority of trades are AT.

[sunbed44] 10/4/2019 14:42

Lots of retail peeps getting bored and impatient and selling up they'll soon be regretting there decizions

[itsriskythat] 10/4/2019 09:51

Reply to Oilbagger:

You've made the decision.

I don't know how many trades it took you to sell your entire holdings?

I've been in that position of turning negative and having too many of a different O&G company. I started selling the maximum the market makers would allow and it took from 18th January until 12th March through a total of 40 individual trades.

It was hard work but no regrets.