Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Interesting to see our CFO Nick Beattie taking part in The rise of renewables: Sharing lessons with the extractive sector 11:45–13:00 on 14th June. Looks like Andrew would normally take part in such events but that also coincides with the SSOP 2023 oil conference so he can’t make it.
https://eiti.org/eiti2023/programme
Savannah Energy clearly positioning itself in renewable with all the project its lining up and the exposure should hopefully help us finance our renewable project through debt.
I find it interesting that Savannah haven't posted about being a sponsor of SSOP 2023 on their social media. Looks like they want to control the comms timeline in relation to South Sudan entirely and don't want to give an impression about the deal. Just a small observation clearly Savannah want to control proceedings about how the market is appraised on south sudan.
If Savannah Energy Plc use the full $2.5bn debt they can easily get up to 150,000 - 200,000 bopd with reserves well in excess of 1bn+. With assumption that brent crude price will average above $70 and above for the foreseeable future we will reach £2 share price in quick time
Agreed Komakino - The nature of the assets that we are doing deals in i.e south sudan would always have contingency built into the contracts so clearly they must be pressing ahead with the deal and they would have more on the ground intelligence as to what the actual situation is than we ever would know through mainstream media. They clearly must be happy to proceed and must have contingent and clauses built in that protects our interest without comprising the deal.
Let's hope we close south sudan and move onto our next hydrocarbon deal Amni Energy deal ;)
Well, based on Sunbed's chat with Camarco yesterday and then this, it does appear that it's full steam ahead with the SS acquisition and whatever concerns we had over the war in SS has either been reflected to their satisfaction in the contract or they are just not concerned about it, though I find the latter hard to believe. Looks promising for hopefully what turns out to be, as AK likes to call it, a transformational deal for the company and, as we all hope, a transformational uplift in the share price!
Surely the timing of announcing us as gold sponsor for SSOP 2023 is a good sign ;)
https://twitter.com/energycappower/status/1658804808730411009?s=46&t=bdVeLrGB139mDog1SFRNlw
Sadly, Agadem doesn't even seem to have an account here anymore. A great pity as he was an excellent poster and clearly a very intelligent and good-hearted person (discouraged by the usual unnecessary, nasty posts sadly).
Can I ask that as many Agadem fans as possible give this post a thumbs up? Not to like my post but as simply in an attempt to get him to return.
Many thanks, everyone.
Posted by Sunbed over on ADVFN
'Had a very good call with Camarco today and they have never been as busy as they currently are with work from SAVE. They seem to be receiving new work-stream requests from the company on a pretty much weekly basis. SAVE are still well on track to issue the admission document in H1. From all the intelligence SAVE receive, the pipeline, refineries and operations in Sudan don’t seem to be in any danger from either side in the Sudan civil war. They are full steam ahead ATM with the Petronas RTO.
The O&G conference in SS starts 4 weeks tomorrow and I think we could well see the Ad Doc prior to that with large renewable deals announced and signed at the signing ceremony which I think has been brought forward to Day 1 of the conference on Wednesday 14th June - I think.'
Why is agadem no longer posting?
Has he been upset by someone?
I too miss his input!
Savannah Continues its African "Empire
Building", Despite the Obstruction in Chad.
https://africaoilgasreport.com/2023/05/energy-transition/savannah-continues-its-african-empire-building-despite-the-obstruction-in-chad/
He's just living up to the second part of his user name. The first part is nowhere to be seen.
I think you must be lost :)
Ajax resources are looking to acquire a lithium asset currently at bottom worthwhile a look
Agreed agadem relationship with IR was phenomenal. Don’t think they have ever responded to my emails.
Renewable Tunisia Holdings?
I doubt it's Togo , Tanzania or Timbuktu...
I miss your input, Agadem. I really hope you'll be posting again when Savannah relists.
Looks like another renewable company incorporated today - SAVANNAH ENERGY RTH LIMITED (14868334)
Morning All, A new week means new hope............ Has anyone been in touch with IR recently just wondered and if so what has there response been ? I have tried recently but no response back......
You could be right komakino, whether it forms part of the same admission document or whether a SPA follows straight after remains to be seen. However one thing is certain that they will be looking to replace the 20,000 Bopd of production that they would have got from chad doba field if they managed to complete the acquisition successfully of Exxon and Petronas share. So it wouldn’t surprise me if they are looking to cram more than 1 deal quite quickly in a all in one document to avoid future suspension. It also would not surprise me if they ask for an extension as well to complete more than one deal. It just saves the hassle of future suspensions. Obviously what I am saying is just based on my own hypothesis. But I believe missing out on DOBs production will make them go for another acquisition which will hopefully replace the lost opportunity in chad. Amni fits the bill as according to its website it’s production is circa 20,000 Bopd which fits what they initially went for in chad.
Who knows we could receive another SPA before the admission document as well……
TiL, I think if that was the case they would have produced an SPA document by now. Both the Seven deal and Chad/Cameroon took 6 months from SPA, as will SS so whilst they may announce a new SPA immediately after the SS deal is signed, I doubt the admission document will include anything other than SS. If they were to do announce something new after SS is complete, and especially if it constitutes another reverse takeover, it would be nice of we got a bit of trading time in between to let the SP settle at it's new level and for people to divest or take new/increased positions before another suspension.
Imagine if the admission document covers the Petronas South Sudan deal and Amni Energy deal. Than all price estimates will be out the window……………….
One can dream and certainly possible considering the amount of time the admission document is taking I believe they are perhaps trying to bolt on more than one deal as an all encompassing admission document so we avoid further suspension. The last thing they would want is to complete South Sudan and than be suspended for Amni energy deal as that would certainly irritate Many people. Amni production may not be as large but it’s reserves are huge and would highly likely make it another reverse takeover even post South Sudan. So they may be trying to complete a mega document with 2 monster deals in the same window.
If we do complete south sudan with a closing price between $700 - 800m or lower and with net debt in the region of 1 bn - 1.2bn dollars, than I believe we should have enough headroom and fcf to pursue Amni international let's assume that our max borrowing is circa $2bn we would still have capacity of $800 million for additional acquisitions, and given our success with accugas in Nigeria i would love to pursue amni international compared to other deals. Even though Nigeria has it's challenges it's far better than other regions like chad or south sudan, plus the risk of military coup in Nigeria is far lower than the likes of chad and south sudan.
Although the production is much lower since 2021 by the looks of the below article, but it's great to see an RBL facility so if we were to acquire Amni we would have access to the RBL as well so we should be able to use that to grow amni production and develop it's assets under the right stewardship.
https://www.afreximbank.com/afreximbank-signs-us635-million-reserve-based-facility-term-sheet-with-amni-international-petroleum-development-company-ltd/
Amni International production number I believe as of 2021 was circa 50,000 bopd and 200 million cubic of gas per day. The company reserves are estimated to be 500 million barrels of oil and 2 tcf of gas. So if we do complete amni international deal it will be as large as south sudan or even larger likely an all share merger, not sure when the website was last updated so production could be lower since 2021 if there was lack of investment in the fields.
Oil: CEMAC's Community Competition Council endorses the acquisition of Petronas by SHT
The CEMAC Community Competition Council met today to deliberate on the acquisition of Petronas by SHT. After a consensual deliberation, the Council issued an opinion in favour of the acquisition, which will be submitted to the final decision of the Chairman of the CEMAC Commission. Meeting in Douala, Cameroun, on [...]
Tchadinfos
ChadInfos
Published on 11-05-2023
The CEMAC Community Competition Council met today to deliberate on the acquisition of Petronas by SHT. After a consensual deliberation, the board issued an opinion in favour of the acquisition, which will be submitted to the final decision of the chairman of the CEMAC committee.
Meeting in Douala, Cameroun, the CEMAC Community Competition Council completed its technical work on Thursday, May 11, 2023. The decision will soon be approved. This acquisition is an important operation for SHT, which will be able to strengthen its position in Chadian oil management by becoming the majority, namely 60% of the Consortium, 59.82% of Totco and 53.77% of Cotco.
This decision follows the visit of the Minister of State, Ferdinand Ngoh Ngoh, Secretary General of the Presidency of Cameroun, to Chad on April 23, as well as the Chadian government's announcement of this acquisition. This decision shows that relations between N'Djamena and Yaoundé are once again in good shape.
The acquisition of Petronas by SHT is also a nose in Savannah, which has entered into a tug-of-war with Chad regarding the purchase of Exxon Mobil's shares in the Oil Consortium. This showdown pushed the Chadian government to nationalise the assets of the American multinational.
https://tchadinfos.com/petrole-le-conseil-communautaire-de-la-concurrence-de-la-cemac-donne-son-aval-a-lacquisition-de-petronas-par-la-sht/
Personally if we could sell the Costco pipeline entirely and move on to acquire other assets that would be great.