Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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CYB - these articles sound great don’t they. But when it gets to the business end of deals, who the hell can you trust? That’s what we pay AK so much for - to work it all out and get people to sign on the dotted line. Let’s hope he earns his 2023 remuneration package - one way or another before the end of December.
On another note, Sally sent me a nice reply acknowledging my email and said they will reply but not had the reply yet. Will keep yo all posted but am away next week on a City Break to Valencia.
Seems like Bracewell LLP the law firm was involved in another deal in Nigeria the new age asset disposal. Looks like NIgeria M&A space is starting to heat up again, this is on the back of another deal which they helped ENI sell to Oando in September 2 deals in space of 4 weeks.
https://bracewell.com/news/bracewell-represents-new-age-disposal-nigeria-assets
https://bracewell.com/news/bracewell-represents-eni-disposal-nigerian-assets
https://bracewell.com/news/bracewell-represents-maurel-prom-acquisition-assala-energy
https://bracewell.com/news/bracewell-represents-africa-oil-corp-equatorial-guinea-offshore-assets
https://bracewell.com/news/bracewell-represents-eni-sale-assets-egypt
https://bracewell.com/news/bracewell-advises-savannah-energy-407-million-acquisition-exxonmobils-business-chad-
https://bracewell.com/news/bracewell-advises-savannah-energy-transaction-acquire-south-sudan-blocks-125-billion
Let's hope they can help us secure a deal in Nigeria as well................................
One thing I will say is considering all this M&A happening around africa in the oil and gas space and as Zengas alluded to surely it's not a fools game for all these deals still continuing to be executed, and from a legal stand point there must be some expertise from Bracewell to conclude deals through the regulatory approval hurdles sooner or later perhaps not with all the deals that they help facilitate but you would imagine a few will get till the end ................................
Otherwise would be a bit of joke if none of there deals which they facilitate end up being successfully completed till the end wouldn't be such a great look................ just my thoughts that they must know the african deal making and regulatory landscape well enough to continue apace with their clients on deals.
Also they don't just help with deals as you can see from there websites they also facilitate to help raise debt as well. So one would like to think that when they signed SPA certain checks are done to ensure that they can secure debt for us or help us facilitate in raising debt ................
Happy weekend folk......................................................................
First naira denominated debt infrastructure fund launched in Nigerian stock exchange yesterday. Search google for naira debt infrastructure news plenty of articles.
Sounds like good news and would hopefully signal a positive news and sentiment to the market helping us also close accugas debt restructure should start to increase availability of naira and bring liquidity to the market in raising naira denominated debt.
I wonder if they are one of the investors into the accugas debt……. Either way seems like more debt funding will become available in local currency as more investors might take this as a signal and hopefully increase supply of naira for debt and infrastructure projects.
Looking at there investment objectives “Storage and transportation facilities for hydrocarbons, including natural gas.”
https://ndif.webflow.io/
https://businessday.ng/markets/article/first-naira-denominated-infrastructure-fund-lists-on-ngx/?amp=1
MR B - I believe the construction is still continuing it’s the commissioning of the pipeline that they are trying to delay that’s what an article seem to say from Africa intelligence
The info in the report is recent but why does it refer to 2021?
Apologies if previously posted but it reads to me that the construction of the pipeline is currently halted by ECOWAS because proceeds from the oil exported could be used to support the junta.
Part 2.
Talon has also tried to convince ECOWAS to lift its sanctions on Niger and allow the continuation of the pipeline project. He has argued that the pipeline is beneficial for both Niger and Benin, as well as for the stability and prosperity of West Africa. He has also claimed that the pipeline does not interfere with Niger’s internal affairs or affect its democratic process.
https://bnn.network/finance-nav/business/talon-seeks-to-reassure-xi-jinping-over-cnpc-agadem-pipeline/
Part 1.
The CNPC-Agadem pipeline is a strategic project that aims to export crude oil from Niger to Benin, through a 1,980km cross-border pipeline.
The project is developed and operated by China National Petroleum Corporation (CNPC), a state-owned oil and gas company of China. The pipeline is expected to have a capacity of 90,000 barrels per day (bpd) and to be commissioned in 2021.
The political and security challenges of the pipeline
However, the pipeline faces several political and security challenges that could delay its launch or jeopardize its operation. The first challenge is the recent military coup in Niger, which ousted President Mohamed Bazoum on 26 July 2021. Bazoum was a close ally of CNPC and had supported the pipeline project since its inception.
The coup leaders, who formed a junta called the National Committee for the Restoration of Democracy and the State (CNRDS), have not yet clarified their position on the pipeline or their relations with China.
The second challenge is the pressure from the Economic Community of West African States (ECOWAS), a regional bloc that condemned the coup and imposed sanctions on Niger. ECOWAS has also urged Benin, Niger’s neighbour and partner in the pipeline project, to suspend its cooperation with CNPC until the restoration of constitutional order in Niger. ECOWAS fears that the pipeline could provide financial resources to the junta and undermine the democratic transition in Niger.
The third challenge is the security threat posed by armed groups and terrorists in the region, especially in the Lake Chad basin and the Sahel. The pipeline crosses several areas that are prone to attacks by Boko Haram, Islamic State West Africa Province (ISWAP), and other militants. The pipeline also passes through some ethnic and tribal conflicts zones, where local communities may oppose or sabotage the project.
In this context, Patrice Talon, the president of Benin, plays a crucial role in determining the future of the CNPC-Agadem pipeline. Talon is facing a dilemma between complying with ECOWAS’s demands and maintaining his good relations with China.
Talon has been a staunch supporter of the pipeline project, which he sees as a source of economic development and regional integration for Benin and Niger. He has also been a loyal partner of China, which is Benin’s largest trading partner and investor.
Talon has recently sought to reassure Xi Jinping, the president of China, over his commitment to the pipeline project. He has sent a letter to Xi, expressing his gratitude for China’s support and cooperation in various fields, including energy, infrastructure, health, and education. He has also reaffirmed his willingness to work with China to advance the Belt and Road Initiative (BRI), a global development strategy that includes the CNPC-Agadem pipeline as one of its flagship projects.
#Savannah is pleased to announce the publication of our first disclosure report for the Sustainability Accounting Standards Board (“SASB”).
Read the full report here: bit.ly/3PHAOx6
#Sustainability #SASB
We continue to excel at producing glossy booklets and our networking activities all over. Africa.
Just need to close a few bits of business now and we’ll be the full package!
Forgot to copy the article:-
Kenyan President William Ruto will be travelling to China later this month to seek a $1bn (£820m) loan to pay for stalled road projects, his deputy Rigathi Gachagua has said.
Mr Gachagua told local-language Inooro FM radio that many contractors had abandoned projects around the country as they were not getting paid for their work.
He said while Kenya was already heavily in debt to China, the president would ask for an extra $1bn while seeking a longer repayment period for the money that is already owed.
He said the president would tell the Chinese that “we admit we owe you money, can we talk so that you add more time, we pay more slowly, and can you add some little more money to finish building our roads?”.
Kenya owes China more than $8bn from loans mostly contracted during the former government under President Uhuru Kenyatta for infrastructure projects.
The deputy president addressed the issue of extravagance by government officials, saying it was the reason the president had ordered a curb on foreign trips.
Earlier this week, the presidency banned public officials from taking non-essential trips abroad to cut spending and has ordered all ministries to cut their budget for the next financial year by 10%.
The government has been accused of unnecessary spending amid complaints by many Kenyans over the rising cost of living and tax hikes put in place by the government.
Kenya trying to get $1bn from China for stalled infrastructure projects. This put the SS / Caltech into perpective. $3bn ($1.2bn for all the Petronas assets + $1.8bm interest free for a few years and then 1.5%) from some tinpot company who pair $100 bucks to take Kiir for a bloody good ‘massage’!
ETA to next SS news - 10 weeks today and counting…
O&W, your posts are pretty ironic given your posts on other boards
On PRD 'Must admit I am new here, but I would like to ask those who have been around a while, why are a few posters intent on spreading negativism, yet presumably holding shares here? It's so boring.'
On HZM 'All the clever dick "I got out ages ago with a profit" crowd are dominating the posts here now. What a shower.'
You've made your point already that you reduced your holding by 90% just before suspension so not sure why you feel the need to continue with your smug posts. Pretty immature stuff from someone professing to be wiser.
You lot continue to discuss the"wishful thinking" shopping list, because you are stuck in the invested mode, but maybe you should pay more attention to RR's "ouch" case scenario. Quite likely, imho.
On your point around continuing to still grow head count, one would hope that there are genuine reasons that we may not be privy too that justifies continued growth in headcount......................
Rockyride - I do sincerely hope that we don't have to wait 2.5 month for the next rns. Hoping for a few operational update RNS's. For me personally the following 2 will go along way:
1) News of additional accugas contracts
2) debt restructuring - if they had a term sheet already that we shouldn't have to wait till December 15th for news on debt restructure .
Acquisitions or not the company, AK, and the board need to do a better job in keeping the market and the investor base appraised on existing business as a bare minimum......................
All quiet on the channels I monitor so far RR. No more additions regarding the NY appeal from CityBank. I guess it could be a while before that is heard.
TiL - TY for monitoring so many channels for any snippets on SAVE. Re this one - you would like to think that AK is confident of some incremental NOI for somewhere or other if he is still recruiting and growing the team in the UK and abroad.
What were the focus areas for 2023:-
1 Close SS
2 Add another hydrocarbon acquisition
3 Get to 1GW - now put back the next year
4 Re-structure Accugas debt
I’d be ecstatic if we completed on 2 & 4 by the end of 2023.
Surprised we’ve not seen more trade press / Social Media. I hope Z and Komakino are still researching all this lot along with Komakino’s excellent research on progress re the New York and Paris court cases.
Https://careers.savannah-energy.com/job/London-Assistant-Company-Secretary-LND/956531755/
Hmm, perhaps they might need to devise or structure contracts that allow us to maximise up to 200 mmcf//d or at least until 180 mmcf/d, helping us maximise as close to our current processing capacity
The 8 gas contracts
https://www.savannah-energy.com/operations/nigeria-3/our-assets/
They sold 142 mmcf/d for all of 2022.
I don't know if they have spare capacity for new contracts because if those cornerstone customers take their 80% TOP as well as the others taking 80% of theirs, they could be running at 212 mmcf/d. They mightn't meet those contract requirements.
Correct me if I am wrong but according to H1 2023 update we are averaging daily production from Nigerian operations was 25.3 Kboepd. If I our processing capacity is 200 MMSCFD that's equivalent of 35,000 Kboepd.
So in theory we still have plenty of leg room to sign additional gas contracts to the tune of 10k still lets hope we can start to ramp this up. Personally I don't think it's a tough ask to get to 30k plus in the next few months minimum...........
Anybody notice the 8 trades today all for 4,025,000 @ 26.25p = £1,056,562 per trade and 32.2m shares in total?
On ADVFN they all show as positive numbers but on LSE 5 of the trades show positive and 3 trades negative.
Can’t be Joseph’s shares going through as he only bought 6 m at 26.35p.
Strange why these are showing today and does anybody have any thoughts? Hope it’s not a placing going through, although if it is at least it would (hopefully) provide Sime support at 26.25p and you would think we would not be coming back in the teens or worse.
Oil cartel leader warns of prolonged high prices https://www.bbc.co.uk/news/business-66985654
I do wonder legally or ethically how long they can keep rolling on the suspension. It's currently suspended on the basis of a deal that wasn't the reason for the initial suspension, and talk of working on another deal if SS fails, and a another extension to the already extended suspension period does make we wonder if they are playing a bit fast and loose to avoid having the shares trading until they have possibly managed to pull something out of the hat. Can anyone shed any light on what the Nomad might need to support an extension request ?