Savannah Petroleum Share Discussion Threads

[moho30] 08/2/2020 07:58

I've worked for three AIM resource companies. Two of them generally treated PI enquiries with disdain and the IR people and PR company supporting them were a waste of space, capable only of putting a bit of colour on the cover of an annual report. They both went down the dunny. The other one made a point of responding to enquiries no matter how trivial or off the wall There was general recognition that they needed to look after and communicate with shareholders. The company was hugely successful and eventually taken over. No idea where SAVP lie but feel they are probably out of their depth in most areas just at the moment.

[buffythebuffoon] 08/2/2020 07:51

Dear Mr Roper,

Far better for people to suspect you are an idiot, than to open your mouth and remove all doubt.

HTH

Buffy

[stockport loser] 07/2/2020 22:14

dont be a bell end

[mr roper] 07/2/2020 19:52

AFren mk II?

[nen2319] 07/2/2020 19:41

Bushman. Don’t be fooled. They don’t answer full stop .

[bushman1] 07/2/2020 19:27

Divmad. I hold a fairly reasonably sized position in SAVP. I've written earlier this week and also today to IR and Celicourt requesting clarification on both a Niger CPR and operational update on both Nigeria and Niger. No reply on both occasions. This leads me to believe IR are currently in a closed position, perhaps the final DD on a farm in partner being carried out, the ' i ' s being dotted etc on the financing after 7 E concluded, new Accugas partner etc Hell of a lot going on. Next week, perhaps clarification in all areas as SAVP settles down.

[divmad] 07/2/2020 19:05

Another miserable week for Savp shareholders.

[tiers] 06/2/2020 00:39

Thanks Z. Amazing informative post as ever.

[zengas] 05/2/2020 20:20

Re SAVP tweet last 7 days re AK meeting Akwa Ibom Govenor seeking to exploit idle gas fields.

Nigeria has now said it has secured the remaining investment for the $2.5b 614 km AKK pipeline and to start imminently.

Will deliver up to 600,000 boepd including the supply to 3 new major gas fired power stations and "will ultimately link southern Nigeria with customers in Europe".

"is expected to transport 3.5bn ft³/d of dehydrated wet gas from *multiple projects in the SOUTHERN part of the country "*



Can't post the pipeline map but (look up AKK pipeline) Accugas network is shown in the Calabar area amongst others and ideal to be linked - ie via a spur. Our own network has 100,000 boepd capacity so scope for incremental feed supply or tarriff as transporter so we could be one of the multiple projects in the southern part of the country where the gas will originate from. Timely or co-incidental that AK should be tweeting re holding meetings with the Akwa Ibom State Govenor seeking to exploit idle gas fields. It's a regular feature in Savps presentations and indeed interviews where we are told that there is circa 40 TCF undeveloped gas in proximity to the Accugas network (ie some 6.6 billion boe).

[canigou2] 05/2/2020 17:13

Yes, but that was a forecast. What is the reality?

[stockport loser] 05/2/2020 17:12

you may want to read the Dec RNS that tells you.

[canigou2] 05/2/2020 17:10

What is going on here? Something doesn't seem right.

Seems very undervalued unless we are not generating enough revenue to service the debt we acquired along with 7e assets? Any ideas anyone. I eagerly await some figures showing actual current revenues (& realistic forward revenues).

[stockport loser] 05/2/2020 17:08

Stock on loan is actually 1.49% down on December.....

[stockport loser] 05/2/2020 16:07

probably best wait for next RNS.

[divmad] 05/2/2020 15:57

I could add another 100k here but is that like throwing good money after bad?

[mount teide] 05/2/2020 13:45

L2: 1 v 2 / 16.5p v 17.0p

Rest spread between 16p and 15p on the Bid - only MM's on the bid side of the book.

Top of the Offer side is loaded with bot positions - first MM is at 18p.

[honestmarty] 05/2/2020 13:25

The x2 1M trade is a rollover.

[andrewsr] 05/2/2020 13:18

2 x 2m buys??? What's going on? and the price goes down....

[stockport loser] 05/2/2020 12:33

real buy price is 17.45, the 17.95 can only be there to deter buyers.

[mount teide] 05/2/2020 11:44

L2: Desperation tactics - price is ticked up using a £20 buy!

Suggests they are far from happy about the wider market learning of the huge surge in the level of stock out on loan.

[mount teide] 04/2/2020 22:50

Short position surged by 172% last month from 1.54% to 4.19% (37 million shares)

There are no reportable positions ( greater than 0.5%), so it would suggest hedge funds using opaque structures in an attempt to hide their involvement are likely behind this development.

Euroclear's latest Stock on Loan(short) Report published yesterday together with the change in brackets from previous monthly report.

0.00% - Jadestone Energy / ( No Change)
0.00% - Petrotal / (No Change)
0.00% - Touchstone Exp / (down 0.86%)
1.46% - Shell / (up 0.43%)
2.36% - BP / (up 0.15%)
4.19% - Savannah Petroleum / (up 2.65%)
5.70% - Enquest / (up 2.50%)
6.88% - Cairn / (up 2.95%)

[bushman1] 02/2/2020 10:00

11th December 2019 ~ reposted on LSE


'' OIL & GAS / AFRICA

Savannah sets out Nigeria plans for 2020

by Ed Reed

11/12/2019, 9:00 am

Assets recently acquired in Nigeria from Seven Energy

Savannah Petroleum expects to generate free cash flow of around $130 million per year from its recently acquired Nigerian assets, based on calculations from CGG Services.

Capital expenditure in 2020 will be around $41.5mn, largely directed to gas production at Uquo, with new demand coming from a power plant.

CGG published a competent persons report (CPR) on the Uquo and Stubb Creek fields, in addition to the Accugas midstream business. Savannah completed the acquisition of these assets from Seven Energy in mid-November.


Savannah completes Nigerian entry with Seven Energy - News for the Oil a...
It has been a long time coming, but Savannah Petroleum has completed its acquisition of Seven Energy, broadening...




The CPR put gross and net 2P reserves at the Nigerian assets at 99.6 million barrels of oil equivalent and 71mn boe respectively, with 2C resources of 98mn boe gross and 58.6mn boe net.

The report also includes a net present value calculation of $1.2 billion, which includes the deferral of debottlenecking at Stubb Creek to 2020, from the previously planned 2021.

Production this year is 17,300 boepd gross to date, up by 33% year on year.

Based on a projected cash collection from the Nigerian assets of around $190mn, debt should be reduced by $40mn. There will also be $15mn of cash held among the Nigerian assets.

Costs of production have fallen by around 18% from 2016 to 2019, Savannah’s CEO Andrew Knott said. “We continue to view these assets as a strong platform from which we will deliver further growth. In this regard, we continue to make good progress in relation to the supply of gas to potential new customers, and are investing in additional well stock to ensure anticipated future production levels are capable of being met.”

Gas is sold from the Uquo field via the Accugas business to three main customers, with gross take-or-pay volumes of 141 million cubic feet (3.99 million cubic metres) per day in 2019. Oil and condensate from the two fields are sold under an offtake deal with Mobil Producing Nigeria (MPN) and is exported via the Qua Iboe terminal.

Production of gas is expected to rise on greater demand in the first half of 2020, largely as a result of the addition of the Alaoji power plant, which will be a new partner for Accugas.

The company plans to drill and complete a gas producing well in 2020 on Uquo, in addition to recompleting an oil well as a gas producer and work over another gas well.

This will cost an estimated $34.5mn, the bulk of capex in 2020.

Accugas will invest around $7 mn in facility upgrades. ''

[divmad] 01/2/2020 17:12

Still hard to get my head round how SAVP is valued on AIM at £180mn when the effective transaction value for its 80% stake in Accugas, reference the partial sale to AIIM, is $216mn. So everything else, cash included, is valued at zero????

Why haven't more IIs clambered on board at these silly prices?