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Given that we are seeking a farm-in partner, the status and duration of the blocks will need to be tied down. We haven't heard anything on these since the first period ended so maybe thats why we haven't had any news of a partner so far.
Going back to that $5m short term loan, this is something that could be needed to perhaps pay towards any extension. There's no way DIG Oil would have been getting any relinquished parts for free so begs the question why not try and farm in with SAVP ?
Uunless Savp already have a partner in waiting now that these blocks are supposedly no longer on the negotiation table ?
Or they are off the negotiation table due to some other unknow company coming in, but i'm sure AEI would have picked up on this by now.
So the blocks were no longer on the negotiating table. Do we take that to mean Savannah has retained them or someone else has picked them up?
from a post re Dig Oil in early January where they were interested in any hive off of relinquished zones of Savps 4 blocks in Niger -
From AEI today
To increase its chances of obtaining blocks in Niger, the South African junior Dig Oil has joined forces with a firm well-connected in West Africa.
Trade Oil
that is who Andrea Brown's firm Dig Oil sought out for help to pick up the northern Nigerien blocks Grein and Taffassasset. The trading house headed by Ivorian businessman Namory Kone has been active in West Africa since 2003. Trade Oil debuted its activities in Niger in 2018 with the offshoot Trade Oil Niger, headed by Traore Abdoulaye Whakhan, who previously directed Ivorian trader Aureole.
When it first opened its doors, Trade Oil Niger's corporate mandate only covered downstream activities. Kone is now branching its activities out into exploration & production. Trade Oil will not just act as an intermediary for Dig Oil but will be its partner if the two firms get the Nigerien blocks in current negotiation. One of Trade Oil's vice presidents is Barinder Dhami, who is also the business development manager for the Venezuelan trading house Venro Petroleum.
Dig Oil, Trade Oil and Niger entered a new round of talks in January in South Africa. As we revealed (AEI 855), Dig Oil board member Alphonse Kisolokele jetted off to Niamey in November to discuss investment opportunities with the minister for petroleum Pierre Foumakoye Gado and his powerful director of hydrocarbons Adolphe Gbaguidi. Considering the future relinquished zones on blocks R1, R2, R3 and R4 of the Agadem field operated by Savannah Petroleum, blocks that were apparently no longer on the negotiation table, the two parties agreed to focus their meeting on Grein et Taffassasset.
Dig Oil holds a stake in DRC block 3 in the east of the country, on which Total was also active. The company has assets in Central African Republic and is working to get a block in Congo.