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Https://twitter.com/SeplatEnergy/status/1749788261273252015?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet
We're working with the National Oil Company & the government & we're optimistic about a speedy resolution of the MPNU deal. We estimate that our turnover revenues will probably go 2 to 3 times what they are today in terms of production. #transformingLives #SeplatEnergy
GBP equivalent 164p using black market FX rate
Agree, Trek, this is going through 140. Hell, it should already by above 140, on the basis of the other catalysts alone.
While the deal is certainly going to be signed off, we lack clarity on the terms, both with NPCC as well as Exxon. We need this formally signed off, then release of the Prospectus. The Prospectus will confirm what the cost of acquisition is, net of all the adjustments, what MPNU’s cash flow and profitability has been, and reveal all the optionalities, including I hope the development of gas export infrastructure in order that SEPL can export directly to Europe.
What a great interview. Had I not already I would be piling in here! It’s pretty clear to me that an RNS isn’t far off and NNPC behaviours have been called to account and their golden ticket has expired!
SP will go through 140 on speculation soon imo!
Usual caveats
Trek
I found video of the interview with oil minister which article quotes thanks. He mumbles a bit at beginning I think, but talks about Seplat from about 7mins:
https://youtu.be/kn44awmKwXM?si=xmEojGJhPb2mjHo2
Anyway, IMO it's quite clear that he says:
"If NNPC had ANY reason to invoke the right of first refusal...."
rather than
"NNPC had EVERY reason."
So the article misquotes him. He doesn't say he's agreed with NNPC claim of first refusal, he's just saying that if NNPC had the right of first refusal, then they left it too late and it's Seplat's deal now.
Now that is a pretty helpful find! Probably explains little lift in SP!
So lokpo is pretty clear then, just the two bod’s to sign off. But what’s in it for nnpc? Or have they been told to let sepl have Exxon and they get a better deal elsewhere?
Gonna be interesting few weeks but looks favourable for sepl!
Usual caveats
Trek
“But I can also tell you that the Seplat-Mobil transaction, which was truncated in the last administration has been 99 per cent resolved. I brought the parties together. We have had a series of meetings. We have agreed on the terms.“It’s just for the NNPC board to sit and approve the terms of the settlement and Seplat board sits and approves the terms of the settlement. It was a big disincentive to the IOCs to make further investments. And so, I brought them together, we have resolved, we have disagreed to agree. So, that matter is resolved.
“Under my watch, I will do whatever I can to see how that kind of situation does not arise again. NNPC had every reason to invoke the right of first refusal. But I have also told them to indicate it on time, so you don’t allow parties to negotiate up to the final point before you say you are interested.“We have to do things differently. And this government is willing to do things differently so that we can get the results that we deserve as a country,” he stated.
https://www.thisdaylive.com/index.php/2024/01/19/lokpobiri-fg-ready-to-immediately-approve-shells-2-8bn-deal-with-oil-consortium
GBP equivalent of 156p, using the black market exchange rate.
Good news around the corner?
I wonder if they are expecting to complete in the next 3 years?...
Shell sells Nigerian onshore business to local consortium.
NNPC are partners with 55% but no mention of any pressure on Shell to sell to them instead.
https://www.reuters.com/markets/deals/shell-agrees-sell-its-nigeria-onshore-oil-gas-business-2024-01-16/
I am overweight here ST. Macro is a key driver imo even without a deal. Nigeria is a pretty good place to invest with organic growth esp in energy and being an African country that everyone wants to make their friend!
That’s even before the SEPL fundamentals!
Usual caveats
Trek
"Easier to access and worth the minutes spent" - Agree on that, very informative and positive update.
Https://vimeo.com/901996645/dc6caf2abe?share=copy
Easier to access and worth the minutes spent
3 months until their next ex-dividend, 5.7p in the pocket :)
I was thinking about how SEPL will trade following regulatory approval of the acquisition of MPNU and I think it will probably gap up a fair bit but not a huge amount as the stock has a very limited following among institutional shareholders and nil following from hedge funds. So for those of you who don't yet have a large position in the context of your portfolio, I think you'll have an opportunity to raise your positions once the news has been confirmed. Once the prospectus is published, we'll have clarity about MPNU's financial position and a lot more to go on. Hopefully at that time more institutionals will be sniffing around, starting to understand the potential yield and growth implications. Still, I think it will be a stead crawl upwards in the share price, not a huge jump. That's my view, we'll see what actually happens. I guess what i'm saying is, patience will continue to reward here.
The youtube video that followed on from this was https://www.youtube.com/watch?v=_5hYsdVbW2E
Very interesting interview with African Billionaire Aliko Dangote
He explains that at the current rate of population growth Nigeria will be the 3rd most populous country in the world by 2050, behind only China and India.
What a growth market and what better energy company than Seplat to invest in?
Hi sw yes I have now watched the interview from a couple of days ago and I also agree that Roger seems to be super confident, he also to me has a gleeful eager looking yes this is happening, it’s also interesting why the Exxon deal was chased after, to me it was because of the abundance gas contained with the shallow water blocks. Nigeria with seplat will develope great infer-structure supplying gas to millions of people eventually. Good also talks about the longevity of the company 25 years plus. Also moderate uplift in divi imminent. I’m really pleased I have held my nerve after these few years and added where I could to my smallish but blossoming investment. Regards H.
Herminator,
The link provided by SeaTank8300 is to a video with a interview made 2 days ago, not 2021. The 2021 that you saw was a reference to an event previous to the aforementioned one.
Great interview btw. I'm feeling more confident MPNU is in the bag.
Hi seatank thanks for that. Great interview...he sounds very positive
Link might help 😊
https://www.youtube.com/watch?v=sPxr1fMcSdM
Hi seatank, thanks for the link but it shows a interview from 2021, which in itself was interesting too watch, I think you have you have to subscribe for the latest video, I am definately encouraged by the comments from other posters to say how positive it was. I was flicking through YouTube and found this from a few months ago which is worth a watch and not too long. Surely the deal is not too far away now with Exxon, lots of news due soon, exciting times.regards H.
I found the video v hard to access
This is another link:
https://www.lsegissuerservices.com/spark/SeplatPetroleumDevelopmentCo/events/fb275527-e7da-49aa-bdd6-35196a1364ca
The website is wwwDOTlsegissuerservices.com
Why don't they make it easier for investors to access?
Anyway, fantastic summary from Roger, who reiterated their plan to raise the dividend and that MPNU will be completed very soon
Great Interview. Highlights for me are the deal will mean tripling the revenue and Seplat are currently supplying about a third of Nigeria's gas needs.
Wwwdotresearch-tree.com
copy/substitute into the starred areas hopefully then the link will function.
The link is via research tree
seplat video conference organiser lse, should be interesting.
https://*********************/events/london-stock-exchange/seplat-energy-nigeria-s-leading-independent-energy-company/1990