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Kind of sad RR’s post got so many ticks :) but that show the quality of our board members. There’s no better board. Good luck all. All I know is as we expected there’s still no progress on SS, no news on Niger… no news to update that’s all they need to say.
Caution although I recall rocky mentioning in his update call with IR yesterday that the company are going to release the financials this month so we are not exactly going to have to wait till 14th June
I'm not sure that AIM got around to providing a new cancellation date to the Company, since none was published in this morning's RNS.
"Four weeks" takes us conveniently to 14 June. 14 June is 14 days before 28 June, the last business day in H1. Companies must provide 14 days notice of the AGM (together with relevant docs, including the financials). That would take us to 28 June. So we can now see why 17 May was chosen in April as the next "deadline".
The 14 June update should be the financials AND a proper ytd update to include Nigeria, Niger, renewables, fx, debt. After all, we're an "AND" company...
TiL - I was being sarcastic mate and the longer we are suspended the stronger the SP could come back at should SS fail so it’s all fine by me too. On the flip side of my sarcasm we have the possibility of:-
Accugas production UP
CPF completed with new clients added
More stranded gas tied in
Naira could and should strengthen and debt re-structure could happen
Stubb Creek completion
New wells started to be drilled in Niger
Tie-in to the Benin pipeline and first oil from Amdigh
New M&A announced
Progress announced on renewable projects
New renewable projects announced to take us over 1GW
Debt reduced
Possible progress on one or more of the 4 x ICC cases linked to TOTco, COTco, Doba
So all the above are quite possible and could give us a good chance of returning >26.35p.
The one thing I still see as highly improbable are AK showing his face at the AGM!
Also I have been wondering if any of the delay is due to the damaged pipeline. Would you as a CEO want to sign on the dotted line for $1.25bn of oil assets with no current route to market. There would have to be some serious T&C’s build in to any final sign off.
And although the SP is likely to be very highly volatile on return anyway, can you imagine how volatile it would be in we came back with a completed deal but no pipeline and then a few weeks later the pipeline fixed and production resumed?
Whatever happens I a definitely with Zengas, i.e no kneejerk reaction when we re-list. IMHO the SP will bounce all over the place and it will take sometime before the market fully understands the company dynamics and it will be a while until the REAL value per share settles down.
Keep the faith Rocky as I have mentioned I am not going to get frustrated about acquisition stuff and always viewed it as a bonus even if we are suspended for another year till June 2025, what i will judge the company on is how are they doing in Nigeria and Niger as that is the priority for me which I am looking to see how both of those operations are articulated in the full year results.
- I want to see CPF facility on the cusp of completion
- I want to see volumes increasing and potential new gas customers taking our production to over 30,000 boepd per day
- I want to see them clearly articulate how they are managing the Naira fluctuations, and if they aren't restructuring the accugas debt than how are they managing this now and going forewords, hopefully in plain English.
- I want to see Niger plans being more aggressive now that the pipeline is complete and oil is heading to international markets.
If they can achieve on all of the above than I will give them as long as they need to close the south sudan acquisition or bring a deal to market.
Personally I think this is a cracking RNS and gives me great confidence in the company and the quality their reporting, communications.It also demonstrates the dedicated and professional Approach to keeping the PI community updated with quality communications. IMHO it gives the company another 4 to 5 months to:-
Produce some more lovely ESG documents
Attend multiple conferences all over Africa and in London
Allow then to say fxxx all again at the AGM and AK see no reason to attend again
Give the Naira some more breathing space to weaken further against the $
Allow the opportunity for POO to possible fall
Give the IR team plenty of time to proof read the new WEB site and check for obvious errors
Give AK a bit more time to plan first oil in Niger or contemplate bringing in a partner
Run the rule over a few more very-high risk very expensive M&A opportunities
Permit a few people within the group to go on sponsored training courses all over the World
Bring in another consultancy company to work out the share option scheme on re-list
So all in all this breathing space should allow the company to get all their admin and housekeeping in order. And then when we re-list everybody should have an empty in-tray and we can then start thinking about how we run a successful O&G company.
So all good in my World and cant wait to see another RNS on 30th September extending the suspension to a new date surpassing the 2 year birthday of the first suspension.
GLA all and keep smiling…
Sadly I can see this taking until at least Q4 to conclude. Whilst hopefully there is a degree of urgency from Savannah to conclude the deal we are none the wiser on SS position and what the sticking point is.
.... today's RNS. I guess we wait another 4 weeks for them to right the same thing.
It seems odd how they keep repeating the same thing this is the 4th or 5th update since December that basically says the same thing - which would suggest nothing has changed They haven’t even got in country approval to do the deal and yet wcat has ….. seems very odd
Obviously we will have to wait to see what the update within the next 4 weeks tells us in terms of South Sudan acquisition progress and whether we are still pursuing this towards completion it’s a wait and see.
Did notice slight drift in timelines as the one on the 5th April suggested AD would be published in late Q2 2024 /early Q3 2024. Whilst the rns this morning simply states Q3 2024 so we could in theory be talking end of September as well…………. As I said let’s see what the update says in the next 4 weeks as this one still lacks the necessary clarity.
At least we will have our full year 2023 accounts now been craving for a business update for our current operations for a while now so would be a good place for all on here to view how the accugas business is performing and Niger plans
Why do they keep repeating the same nonsense ?
Further to its announcement on 5 April 2024, the Company advises that its ordinary shares remain suspended from trading on AIM while it advances the various workstreams associated with completion of the proposed transaction and is working towards publishing an AIM Admission Document in Q3 2024. A further update on transaction progress, and associated matters, is expected to be made within the next four weeks.
Does the report really only cover up to 2022 as per the Tweet, seems a bit out of date already really.
We are pleased to announce that we have published our first sustainability disclosure report according to the Global Reporting Initiative ("GRI") standards. The GRI standards, which are used by over 10,000 organisations around the world, provide a robust framework for sustainability reporting and cover a wide range of economic, environmental and social topics. Our new GRI disclosure report is available to download from our website bit.ly/4blq5lJ together with our latest disclosure reports for the Task Force on Climate-Related Financial Disclosures (“TCFD”) and the Sustainability Accounting Standards Board (“SASB”).
Thanks Rocky - Appreciate that you keep the line of communication still open with IR and feedback to the board on the conversations you have much appreciated by myself and all.
Errors on WEB sire fed back to them and should get corrected soon
New suspension date RNS later today / tomorrow - SAVE just waiting for the date from AIM
AK been in Nigeria for some time but back in SS at the moment
I suspect no Gov sign off still but AK would only inform a very limited few if we had it
Operations going well in Nigeria
No new drilling taken place in Niger yet - progress proving to be quite slow
2023 finals / accounts expected this month and detailed update on Niger will be published then
The other set of accounts mentioned in previous RNS wont be issued until late Q2 / early Q3
I did not speak to here but Sally does still work for Savannah - ha ha ha
Let’s see what the RNS says but I suspect it will simply give us a new date in a few weeks time
GLA
Just show the world your organization is just half assed and unprofessional with silly mistake like that. It winds me up. Very simple. Check everything before going live. Lazy.
Yes. This kind of shoddiness is unforgivable rather than unfortunate. I thought I was being thick as usual. Also I wish I felt the same as you pc1001g, but I hardly read anything more into the SS deal other than outcome still very much unknown. All they said is ‘planned’. Show us the money AK. Rns late today or tomorrow or Monday morning on extended suspension, or never until late H1 or Well into H2?
*them, not *then. I didn't thoroughly check my work. NVG (not very good).
You're generously giving then the benefit of the doubt, Trust.
They should not go live with a site that has circular and incorrect links. I think they've failed to thoroughly check it.
Caution - I believe a lot of the info is based on FY 2022 accounts so perhaps once they release the FY 2023 accounts a lot of the actual content will be updated to reflect / reference the wording in FY 2023 document.
I agree, Tier: that's poor.
And it's not the only one. At the foot of the Investment Case page, there's a button entitled "Read more about our strategy". When you click it, it just takes you back to the top of the page.
I would like to see some personnel changes.