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Ecowas & the West are worried to death of this situation prolonging and Niger forming relationships with Putin / Wagner. It’s hotting up now but to be honest I can see this fizzling out soon and business as usual resuming.
https://www.bbc.co.uk/news/world-africa-66353284
PS TiL only 44 trading days and 61 sleeps until 29th September LOL
Thank you sir, you’re a true gent ~)))) currently in the beautiful Asia. Hope to be waking up one morning to the most amazing news over the next few weeks.
Apols Tier.. (as bow now taken, no need for me to add take a bow too Tier :-) )
The announcement is to 'advance the various workstreams' - so it's not solely down to receiveing ministerial consent imo.
Maybe ministerial consent can't be given until some or all of those are completed.
As far as i know, you can release an RNS to the LSE 24/7 7 days a week and they publish it next business day.
As the interims this past four years have all been on the 30th September, and this years 30th falling on a Saturday i'd go for the interims and a further S.Sudan update on either Friday 29th or Monday am 2nd October.
I would like to say get a signed sealed and delivered deal before return. I wonder if they might now be concurrently working on another deal. Can you simultaneously bring to market as market as part of admission document ? ………………………………………….
In the meantime I would like to see some movement on accuracy debt restructure and also additional accuracy contracts between now and admission document and any other news that the company would deem for to release.
Now that they have extended the timeframe out to end of September I hope that my seem appropriate to provide us with an operations update for Q2 2023.
Excuse moi? I did say end of September also! So yes I’m clever too.
That’s all it matters please get SS signed sealed delivered. Otherwise realist share price won’t sit pretty.
7 it is .. take a bow ACBoom.. (and I'll allow myself half a bow)
In the circumstances, I'm very pleased with this RNS.
I must say it's another lazy rns from IR 30th September 2023 is Saturday so "on or before" is not correct "before" is correct but not "on" should have really said on or before 29th September 2023
Sayj - I hope as you said this morning that they believe it will be much sooner than end of September otherwise no news for another 2 months................................ Surely they can release an Ops update at the very least now...........................................
If oil keeps going up and this gets delayed much longer, Petronas will be paying us to take their SS assets off their hands PMSL
As expected admission document rns released this time round they have gone for end of September to fully manage expectation. Let's hope this doesn't stop them from providing additional operational updates would like to see some gas contracts announced between now and than.
https://www.londonstockexchange.com/news-article/SAVE/south-sudan-acquisition-update/16059651
South Sudan Acquisition Update
Further to its announcement on 8 June 2023 the Company continues to advance the various workstreams required to complete the acquisition of PETRONAS International Corporation Limited's energy business in South Sudan (the "PETRONAS Acquisition") and now intends to publish an AIM Admission Document in respect of the PETRONAS Acquisition on or before 30 September 2023, following such point the Company will seek restoration to trading on AIM of its ordinary shares.
Sadly this has got Russia and Wagner group written all over it, yet another former French colony hit with a military coup, a country fighting Jihadists whilst having split views on where to lean for help with that fight and Wagner tactics have appeared alot more effective than those of the west in recent years. Lets hope it remains peaceful and no one is hurt.
Cheers Sajy amazing mate thanks for the update, yh sounds like a couple of weeks by the sounds of the wording rather than a full whole month.............................. I did here that Petronas had an official exit date of 31st August 2023 in mind so in order to get GM approval from our shareholders intime for this you would have thought that they would have to release the admission document by Friday 11th August allowing 2 to 2.5 weeks to squeeze GM approval by Wednesday 30th August.
I asked if we will be getting a Q2 update soon and the answer was the next news is likely to be the AD. That is why I said I think it will happen much sooner than end of Q3.
Thanks for confirming Sajy much appreciated, do you know if we will receive a Q2 update in the interim ? My guess is the admission document will probably be ready but they just would prefer to return to market with approval so will allow a few more weeks.........
Where's all the let's just stick to Niger advocates ? Nigeria please no !
Covid, pipeline delay, no sales outlet, domestic sales to refinery not fully paid to Chinese.
Spend all our capital raisings on building reserves and still months away from production.
Wake up to Coup - Bad incompetent management, no other assets /diversification- change pants (2-3 pairs).
To all those advocates against diversification, (particularly when we had non recourse debt financing in our favour re risk) and that we should just have stayed in and developed Niger - are now the same worriers over the present Niger coup. Today's your answer on that strategy if you think the situation in Niger is as bad as you think !
Just had it confirmed that the AD will be published by the end of Q3 and not tomorrow. Also government approval is not a condition for the AD to be published but the company would prefer to have it. Got the impression it will happen much sooner than end of Q3.
Zengas - Well articulated and yes completing Petronas South Sudan acquisition is the priority for now and the companies ultimate focus, One would hope that they have made good progress in this regard and hopefully the said Q3 timeline is still the intended target. I would like to add that the main focus for me is getting South Sudan over the line and getting new accugas contracts. .......
Has anybody read or listened to the military statement on the coup.
"We reaffirm our commitment to respecting all the commitments made by Niger. We reassure the National and International community that the physical and moral integrity of the deposed authorities will be respected."
I don't see any change to what Save are doing and intend to do. Fully expecting it to be normal business for the country to function and continue to grow its prosperity under different leadership (if it lasts).
Just looked at AIM listed Hummingbird resources who have their main assets in Mali and Guinea that have BOTH been the subject of very recent military coups (and previous). Business as usual, gold output unaffected, mines developed, revenue as was expected and share price growth this past year regardless of coup impacts. Perfectly normal for borders to be closed to prevent outside interference which could possibly make matters worse. 'Current' President Bazzoum had them closed a number of times against Nigeria to stop smuggling and much consternation about local community and wider inter country trade.
The main concern is getting South Sudan over the line for me.
Niger at a full 5,000 bopd would be less than 7% of total revenue on S.Sudan completion along with Nigeria. It's unlikely to reach that until later in 2024 when connections are made etc as first phase was to go beyond 1500 bopd. At the agm there was no guide on new exploration until self funding or a partner so was hoping news on new exploration by mid 2024.
Prior to year end at least one new hydrocarbon asset to be announced and as yet size/location unknown.
Savannah have just hired a Financial and Corporate Modelling Manager from KPMG, surely with the continued hiring there must be some confidence in the future of company and it's growth plans. I think someone mentioned before the amount of hiring they have done and are doing can not be just serviced from Accugas alone.
https://www.linkedin.com/feed/update/urn:li:activity:7089942152306155521/
Whether it's a constitutional government or a military government they will both want oil revenues so coup or not coup makes no difference Sudan before the split was pretty much a military rule with civil war and yet over those years, CNPC, Petronas, ONGC all managed to operate. Considering the Niger Benin pipeline cost exceeding over $5bn. One would imagine they would protect their interest
Let's not overreact here the company are working hard to get this over the line sometimes things naturally take it's course. We should expect an update soon as they mentioned a firm date in the results they will at the very least have to rns an update to that date. Yes they mentioned 'Q3' but that specifically referred to closing and not the admission document.
I wonder if they are using the maximum window which is probably until close of play tomorrow (I.e Friday 28th July 2023 4.30pm) to see if they get any form of approval before rns an update............... perhaps they even may wait till early next week if there is any progress through the weekend in regards to the approval before providing an update to the market
I feel like the company want to make sure that the next update they give is really it and meaningful and as alluded to before they might not want to keep rns the extension every other day as that would look a little silly. So I would image at some point we would probably have to give an ultimatum to the SS government and give them a final date to approve the deal or we walk away but again I would imagine we wouldn't want to do that lightly considering all the time and effort we have spent on the deal.......
"They said they had dissolved the constitution, suspended all institutions and closed the nation's borders. "
Not helpful.
20p on re-opening?
What a bloody farce.