Savannah Petroleum Share Discussion Threads

[taudelta1] 04/12/2017 15:11

would anybody like to say what they think the enterprise value is, for our Niger assets?

[lithological heterogeneities] 04/12/2017 14:41

Honestmarty,It is an excellent deal by the sound of it.However,and it is a very big HOWEVER,it comes with big dilution.So as good as this sounds we could still re-list around the same price.We need to see the Placing price and the amount of dilution to see how badly the drilling campaign will be affected.For example,as you know, if we have 3x more shares in issue then any oil strike which would have seen a 10p rise will only see a 3.33p rise.This could have a very serious negative effect for investors future returns. Great for AK but bad for us.Need to see Placing price and dilution.

[parisv] 04/12/2017 14:40

placing will be split into 2 tranches so we will hear the price pre resumption of trading whilst they issue the maximum number of shares they can.

[taudelta1] 04/12/2017 14:36

what we have read today looks good, it's now just a question of how many new shares are going to be involved, i.e. the placing price ... "our bit" is the Niger assets, so it's a question of how effective SAVP/advisers will be, in persuading the market of the enterprise value of those Niger assets (as opposed to the new Nigerian assets for which today's announcement already gives a $ number for enterprise value) ... Pity we haven't already drilled as the Agadem GCOS is very high but the proof of the pudding is always in the drill bit ... GLA ...

[gersemi] 04/12/2017 14:32

Wow..that's pretty amazing stuff

[honestmarty] 04/12/2017 14:32

LH, did you recently bang your head?

You sound almost....... positive!

[honestmarty] 04/12/2017 14:26

Any word from Malcy?

[gray1107] 04/12/2017 14:11

At a glance that sounds amazing, five wells.

[lithological heterogeneities] 04/12/2017 14:06

It does sound very good, excellent even. Dividends very impressive.Still need date and price.

[ifthecapfits] 04/12/2017 14:02

crikey. that is some RNS. Much to digest.

[lithological heterogeneities] 04/12/2017 13:58

No price,no date, still nothing.

[parisv] 04/12/2017 13:43

Appointment of equity syndicate for the Placing, including Barclays Bank PLC as Global Coordinator and Joint Bookrunner and Mirabaud Securities Limited as Joint Bookrunner; and

Appointment of Hannam & Partners as Joint Broker to the Company.

Big guns!

[miti 1000] 04/12/2017 13:40

Hasn't been set.

[honestmarty] 04/12/2017 13:40

Dividends, did someone say dividends, the markets LOVE dividends.❤️❤ᥧ9;❤️❤️ϰ4;️❤️

[honestmarty] 04/12/2017 13:37

Anyone see a placing price?

[honestmarty] 04/12/2017 13:28

And just like that
A surprise appears

[gray1107] 04/12/2017 12:00

I'm a little late, but that is excellent news Zengas.

[honestmarty] 04/12/2017 11:24

Sympathy LH
Perhaps we’ll get a pleasant surprise?

[lithological heterogeneities] 04/12/2017 09:03

still nothing

[westmoreland lad] 01/12/2017 21:18

Yes ! as Dorset says -- brilliant research Zengas. Many thanks. You have never
failed over the many moons I've been on ADVFN bbs to share with others the true facts, which I believe emulate from your previous knowledge in the o + g industry.

Good on you, and well done !

[dorset64] 01/12/2017 20:46

Cracking research Zengas, thanks for sharing.

[zengas] 01/12/2017 20:34

Delonex and United deal flyer from May 2017 (since approved).

$65m minimum work commitment. Success triggers $100-$200m spending in next 2 years.
Targetting >200 mmbo base which would generate more than $3b to Chad government.



and

United Hydrocarbon International Corp holds United's Production Sharing Contract (PSC) in the Republic of Chad (Chad). This transaction ensures UHCL's long-term commitment to Chad and maintains United's exposure to future project successes.

Under the terms of the Agreement, Delonex will commit to a comprehensive exploration program with a minimum spend of US$65 million in the PSC in Chad. This will include 2D and 3D seismic programs and three exploration wells which represents a significant increase in activity compared to UHCL's current obligations. The Agreement is based on the acquisition of UHCL by Delonex in exchange for a cash consideration of US$35 million. United will retain a continuing economic interest in the Chad PSC and benefit from future commercial success in both the Doba basin and the Lake Chad Block H through deferred consideration to be paid at agreed milestones.

Mr. Ollivier further added: Following threshold exploration success, UHCL will under Delonex ownership have the experience, and financial backing to fast-track the appropriate crude export infrastructure for Termit basin production to global markets.

Mr. Rahul Dhir, Chief Executive Officer of Delonex, said: This Agreement represents an important strategic step for Delonex. We are committed to a fast-track exploration and appraisal program in these blocks to target early production and benefit for all stakeholders. With the support of our investors Warburg Pincus and the International Finance Corporation (IFC), we look forward to working closely with the Government of Chad and the local communities to further develop United's onshore interests in Chad and deliver value for the nation.

Delonex Energy is led by a management team with a proven track record in discovering, developing and operating world-class, onshore basins and building and operating pipeline infrastructure. Their core leadership team previously worked together at Cairn India, where they established a recoverable resource base of 1.2 billion barrels of oil onshore in Rajasthan, India, with plateau production of c. 200,000 barrels of oil per day. They also managed the successful financing and execution of integrated upstream and midstream development projects with a combined capital spend of over US$4 billion. The projects included development wells, processing facilities and the world£s longest (c.700 km) continuously heated and insulated oil pipeline with an export terminal. Delonex is backed by a group of global investors with extensive oil & gas experience, led by global private equity firm Warburg Pincus and the International Finance Corporation (a part of the World Bank group).