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I'm not falling for this - if you can't do £ I'm out
Hi hubs - hope you’re well. This will come a a very nice surprise to you as you’ll know nothing about this whatsoever, so I hope you’re sitting down.
Unbeknowns to yourself, I have silently been working in the background for you and am pleased to inform you that you’ve been awarded a significant amount of money from a very old PPI case. I’m holding the money for you in one of my Nigerian bank accounts and would like to transfer this to you if you would like it. If so please send me all your bank details and I’ll sent the funds to you if and when I get 5 minutes spare?
Oh - one last thing. Would you like to receive the money in USD or NGN as I know some people have had horrific experiences with recent fx fluctuations.
I look forward to hearing from you very soon.
Oyinbo
On reflection it could be unlikely that SAVE would have needed to advertise for staff as these are in place at the JVs between ONGC, CNPC, Petronas unless some decided to leave or move on.
That seems to be the case from the old AI article back on 18-1-22
' Vitol aims for grand slam with Savannah
The success of the two operations in Chad, which are still subject to the approval of the oil and finance ministries, is however only one step in an even more ambitious plan by the Savannah-Vitol duo. Savannah is also looking with great interest at Petronas shares for sale in South Sudan. The British junior informed Petronas of this during the negotiations in Chad. The assets represent some 75,000 bpd for Petronas, with reserves of 300m barrels.
Vitol could also help Savannah financially in exchange for marketing South Sudanese crude.
That would be made easier by the fact that most of Petronas's assets in South Sudan are managed by joint ventures with China's CNPC, which are staffed locally and thus would require the partners to supply little labour. '
The date of the article imo could infer a start date of the transaction as 1/1/22 and now a full 25 months past whch at $30m/month imo could have knocked $750m off the settlement price by now and perhaps some of the balance attached to a greater oil price and/or production milestones.
I cannot for the life of me fathom why anyone would do this? If there was a market I can imagine it being plausible to encourage buying but we are suspended. Can someone less naive open my mind?
Prior to the FY2022 update that appeared to have been rushed out before the year end, the annual Trading Update was released in the last week of January:
FY2020 Trading Update issued 25th January 2021 , FY2021 Trading Update issued 24th January 2022.
Will we see a FY2023 Trading Update in the next few days?
SAVE has put the following on its website:
HOAX JOB OFFERS
We are aware that a website is falsely purporting to offer jobs from Savannah Energy relating to positions in South Sudan. This website is NOT affiliated in any way with Savannah Energy.
Please be aware that genuine employment opportunities at Savannah Energy are ONLY accessible via the careers page of our website: Careers – Savannah Energy (savannah-energy.com)
Sorry to have raised your hopes!
They are spam and I think Savannah may put something on their WEB site quite soon. AK is in SS and working as hard as ever.
Good find Porsche - I think they may progress but albeit slow, is it enough to issue an AD Doc by 1st Feb ler's see, but if there is genuine positive progress than another extension of roughly 2 months till 31st March may be the more likely outcome and more plausible................... Perhaps the wheels are slowly turning and slowly crank up but likelihood is some additional time is probably needed to fully grease all workstreams to come to market.
It looks like the minister of petroleum only returned to office last week so whilst we may have progress are we fully there yet remains to be seen.
https://twitter.com/puot_kang/status/1747906200128151721
One of the senior reservoir engineers at GPOC messaged me last week to say he had just met a bunch of people who had introduced themselves as working for Savannah Energy in Juba. He didn't go into any details but does maybe sound as something is stirring at last.
Great find and thank you
The full range of jobs are at all three joint operating companies. GPOC, DPOC and SPOC so looking really interesting with barely 2 weeks to go to issue an adm document.
Nice one PF, that looks encouraging indeed!
If you click on the view all jobs arrow in the top left corner, there are 10 more jobs in South Sudan.
Not sure when this was first advertised but if its current an advert for Head of Production in South Sudan is an encouraging sign
https://savannahenergy.applytojob.com/apply/YTSgQgDuJX/Head-Production
Https://x.com/onyeka_chii/status/1748000313821262150?s=46&t=bdVeLrGB139mDog1SFRNlw
Looks like as I thought Abia state could be a new market for accugas / savannah somebody else also commented on it on twitter see below
https://x.com/emmaoyoki/status/1747968609035366630?s=12
Another refinery in southeast Nigeria in vicinity of our accugas pipeline due to commence shortly. With all the developments happening in an around our accugas pipeline network. It's hard not to get excited about the potential accugas has in the short medium and long term. I vaguely remember at one point the company did mention that accugas has the potential to scale up to $1bn in revenues alone as a standalone asset. This year developments in the OML 13 licence area, with refineries coming on stream and all within reach of our pipeline network will truly appraise the unlock the value of accugas asset
https://www.legit.ng/business-economy/energy/1573996-fg-announces-date-complete-refinery-dangote-port-harcourt-begins-operations/
Hey cj - I’ll lighten the mood before the weekend and roll forward your scenario:-
We can the SS deal
Go back to back in to another RTO (If allowed by NOMAD & AIM)
We see 1.5kboepd first oil in Niger
Our 35mboe in Niger move from 2C to 2P
We do a huge farm out in Niger for >$300m
We are awarded >$500m from the ICC cases
We restructure Accugas debt
We complete compression in Nigeria
We add 20kboepd incremental gas sales in Nigeria
We re-list with the RTO complete with another 10k-20kboepd
SP then?
Have a nice weekend and less than 2 weeks to go before we see a further extension to our suspension!
Thanks very much. Debt restructuring and Niger answers have reassured me to some extent. I wouldn't expect any other useful information. Enjoy reading everyone's posts over the years here ...... there's no bulletin board as good as this one. I've got plenty of skin in the game approximately 25% of my total investments are in SAVE. I still have my doubts the South Sudan will go ahead. However I wonder whether they will announce abandonment of South Sudan but the RTO of a different divested asset of Petronas/ or another Major and continue suspension of the shares? I'm in no hurry for us to begin trading as I think we'll take a large drop .....I've no idea maybe as much as 50%
Massive thank you from me too RR.
Thanks RR, appreciated as ever.
Nothing earth shattering but I think it’s good to keep a line of comms in to IR. My comments:-
Good to see Accugas debt restructuring still expected to close soon and not linked to anything else.
Maybe we could see a nice surprise to the 35mboe 2C moving to 2P and first oil in niger sometime this year.
Good to hear that Accugas compression project still on track to complete mid year. As TiL says let’s hope we add new customers and add to existing customers supplies during H2.
ICC cases, clearly they are saying absolutely nothing until significant news can be announced.
SS RTO text book reply and anything at all could be going on there be it good or bad. But you know what I’ve said about more of a government commitments before debt providers take us seriously and deem it worth their while funding their legal costs to put the debt packages together.
1 As we did not see the Accugas debt re-finance close in Q4 2023 as expected, are there any significant problems with the deal? If not when can we expect it to close and is it independent or interdependent of anything else going on in the company?
It is expected to close shortly, and I confirm it is entirely independent of anything else which is ongoing.
2 Now the Niger pipeline is completed / operational and also that borders seem to be opening up, have things changed for the better at all with regard our well test program and first oil?
We have noted the recent developments with regard to Niger (including the inauguration of the export pipeline) and will update the market on our plans in due course. As detailed in our recent 2023 Half Year Results announcement, Savannah remains committed to the 35 MMstb (Gross 2C Resources) R3 East oil development in South East Niger.
3 How is the compression project going in Nigeria and when is the expected completion date?
The compression project is on track and, as previously announced, is expected to complete in mid-2024.
4 How are things going with the 3/4 ICC cases re Chad / Doba and when can we expect to see an update on this huge issue?
We will provide further updates as appropriate in relation to the progress of these matters.
5 With regard the Petronas RTO, what is the cause of multiple suspension extensions? If we are so close to deal completion, why can't Savannah issue an admission document, lift the suspension and then work on any outstanding work streams such as Government and shareholder approval whilst we are trading again? How long can we keep being suspended for before the Alternate Investment Market (AIM) and our NOMAD Strand Hanson mandate that we pull the deal and re-list our shares from trading again?
I appreciate your frustration but, as we announced on 14 December 2023, we continue to advance the various workstreams required to complete the acquisition of PETRONAS International Corporation Limited’s energy business in South Sudan. Further updates will be provided as and when appropriate.
Chevron CEO has said the oil market is likely heading for a supply crunch 2025 Onwards. There is never a better time to secure oil acquisitions than 2024. If only we can bring home a material oil acquisition this year...................................
https://boereport.com/2024/01/16/market-to-be-short-oil-from-2025-onwards-occidental-ceo-at-davos/
Shell suspends red sea shipments indefinitely if things continue or escalate we could see $100 oil and stronger gas prices in Q1, the supply disruption is real it will be interesting to see how oil and gas equities respond to this in the next few days and weeks as supply concerns continue to mount.
https://www.wsj.com/world/middle-east/shell-suspends-red-sea-shipments-amid-fears-of-more-houthi-attacks-c7fa936d
After the commissioning of Dangote refinery looks like Port Harcourt refinery is also due to come online.
https://www.reuters.com/markets/commodities/nigeria-seeks-operators-state-owned-port-harcourt-oil-refinery-2024-01-15/
Looks Like Shell has sold it's onshore Nigerian assets to Renaissance, a consortium of five companies for up to $2.4 billion. Renaissance is made up of ND Western, Aradel Energy, First E&P, Waltersmith and Petrolin.
https://www.reuters.com/markets/deals/shell-agrees-sell-its-nigeria-onshore-oil-gas-business-2024-01-16/
Again from the list of names in the consortium it seems like african independents are always the preferred buyers for the sellers, as governments are likely to approve deals involving local independents and foreign independents. I still remain of the opinion that foreign independents will find it extremely hard to close deals in africa the real winners for african divestments from majors will be local African independents.