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Looks like Akwa Ibom government in south east Nigeria are building a LNG plant, I am sure this will unlock further opportunities for our accugas asset.
https://thestreetjournal.org/governor-umo-eno-receives-former-president-jonathan-over-planned-lng-plant-to-be-built-in-akwa-ibom/
Https://theenergyrepublic.com/nigeria-launches-new-fiscal-incentives-to-revitalise-oil-gas-sector/
Looks like first oil is now flowing to Benin port ready for first shipment
https://www.africanews.com/2024/04/24/niger-benin-pipeline-first-drops-of-oil-arrive-at-seme-krake/
SAVE has been priced at 0p on AJ Bell for 6 months or more. It's in my top 4 position wise so hasn't done wonders for my portfolio returns.
Wierdly enough guys it is still 26.26p , still suspended and nothing to worry about.
Better than IG, who have it down as 0p, so 100% margin cover required.
Ps I'm hoping London Stock Exchange send out a closing - or opening - price of 26.25 for this at some stage soon.. ideally market close today for eg... and the trading service providers will automatically then use this as latest price and the 'issue' goes away for all who have a 10p price showing as the 'current' price .. etc...
...but that may not happen, I understand too ..
Certainly off putting to see my p/f balance and my save.l holding value way down this morning on Barclays Stockbrokers, off the back of the latest price feed they received for this as 10p !
As oil bagger says, there's just one off book trade reported on the London Stock Exchange site for 3m at 10p yesterday afternoon...
But the price the London Stock Exchange show for the stock remains the 26.25p suspended price
I'm going to watch see for a bit before I ask Barclays Stockbrokers about this.. (all Barclays are doing is taking the latest price feed they receive from the London Stock Exchange)
Just checked on advfn and it shows 2 trades of +3m at 10p (see https://uk.advfn.com/stock-market/london/savannah-energy-SAVE/trades)
but on londonstockexchange (see https://www.londonstockexchange.com/stock/SAVE/savannah-energy-plc/trade-recap) it shows just one trade of 3m at 10p
While here on lse it shows 2 trades with one +3m and another -3m so it appears like the trade was a mistake and backed out
Now I am totally confused
Hopefully you’re right. Does look this way. Worried enough. Don’t need more drama. Thank you oilman.
Had be worried for a minute but looks a mistake to me as one was for +3m and the other -3m so the trade was effectively backed out
What’s going on? I’m now worried?
Main broker has this down 64.28% to 10p today.
This site has still suspended .
Although the SAVE website on major shareholders states it was last updated on 31/1/24,
'The following members own legal and beneficial interests representing three per cent. or more of the Company’s issued share capital:'
Lat time i looked there was 9 holders but there now includes one called Ruffer and the first time i've noticed them making it 10.
Ruffer doesn't hold over 3% - it holds 1.57% or 20,586,437 shares
This brings the 10 listed institutions to 61.14% + 4.79% for directors = 65.93%.
Any ideas what these trades could be?
Is:- ‘up to 1GW+’ a contradiction? Ha ha ha…
Although I don’t ascribe any value for our renewable projects ATM, I would be pleased to see another deal or two being announced which would take us beyond 1GW. And let’s not underestimate how large 1GW is. In the UK for example it would power 700,000 houses using average power consumption.
I still think AK canned the 1,500boepd of trucked oil in Niger due to our ESG profile.
Does anybody on here know their carbon footprint? I generate 13 tonnes of CO2 per annum and buy Carbon Credits each month to offset 20 tonnes. So I am 7 tonnes per annum to the good…
Https://twitter.com/Savannah_Energy/status/1782311038769156384
Quite the response (albeit somewhat garbled).
This is what happens when Investor Relations stop doing investor relations...
I'm out of patience on the lack of info on Nigeria and Niger as well as lack of meaningful financial updates (but not on SS or CC). Inadequate.
At what point do SAVE realise that their assets are going to be taken from them and nationalised.
Looks like things could be moving quick now in Niger, with the oil minister having a meeting with CNPC and Savannah at the orders of the transitional leader. Seems like Niger are taking an aggressive approach and trying to push operators and partners to come together and be aggressive with their programmes by giving certain directives.
On April 20, 2024, the Minister of Oil of Niger, Mahamane Moustapha Barké Bako, organized a crucial meeting with officials of oil companies and their subcontractors. The main objective of this meeting was to transmit specific directives issued by Brigadier General Abdourahamane Tiani, President of the National Council for the Protection of the Fatherland and Head of State. These directives target the strengthening of oil and gas resource exploitation practices with the aim of consolidating the national economy.
Three key points were highlighted: optimization of contracts, improvement of recruitment strategies, and more rigorous management, marking an important step towards more efficient and responsible management of Niger's natural resources.
This initiative illustrates the government's commitment to maximising the economic benefits of its natural resources while ensuring sustainable and equitable management.
Discussion between the Minister of Oil
And the operators of the National Oil Company, China, Savannah and CEPEX
The Minister of Oil, Mr. Barka Bako Mahamane Mustapha, met Saturday in his office with officials of China National Petroleum Corporation (CNPC), Savannah and CEPEX, major oil companies in Niger.
The purpose of the meeting was to inform these companies of the instructions issued by the Chairman of the National Council for the Protection of the Fatherland, Head of State, Brigadier General Abderrahmane Tayani, within the framework of the arrangements for oil exploitation in Niger.
The meeting focused on three main points: operating contracts, hiring employees, and managing oil resources in Niger.
On the issue of contracts, Minister Barque noted that the national oil company CNPC and WAPCO had always been responsible for hiring their subcontractors, and if they failed to do so, they would bear the consequences. The Minister has already indicated that he will contact the Chamber of Commerce to create a database of companies that will be pre-qualified to provide upstream and downstream services, so as to officially send it to all operators.
Regarding employment, the Minister of Oil indicated that a joint mission from the Ministry of Oil and the Ministry of Civil Service had already investigated the matter at the level of Suraz Company and its subcontractors, then WAPCO Company and its subcontractors, and finally the China National Petroleum Company and its subcontractors. The final report was submitted on April 20 to the office of the Minister of Oil, who will transmit it to the President of the State, who issued his instructions in this regard
https://x.com/nigerar/status/1
Good to see Akwa Ibom Gas development being forefront of mind, with our CPF completion our ability to harness additional gas through our pipeline both through feedstock of new gas and delivery of gas to new customers will transform accugas asset to another level..
https://guardian.ng/business-services/fg-akwa-ibom-unite-to-unlock-economic-potential-of-gas-deposits/
Work to repair Sudan oil pipeline progressing well - South Sudan Finance Minister Chuang......expects export restart in 6-8 weeks.
https://www.argusmedia.com/en/news-and-insights/latest-market-news/2558621-south-sudan-eyes-dar-blend-export-restart-in-6-8-weeks
This article is quite clear not all exports has stopped but they are at lows compared to recent highs. 6-8 weeks to get back to recent levels
https://www.argusmedia.com/en/news-and-insights/latest-market-news/2558621-south-sudan-eyes-dar-blend-export-restart-in-6-8-weeks
Https://www.linkedin.com/in/chidimma-alozie/
Gas Commercial
Savannah Energy · Full-timeSavannah Energy · Full-time
Jan 2024 - Present · 4 mos Jan 2024 - Present · 4 mos
On-site
A new hire to focus on Commercial Gas, Joined in Jan 2024 from ANOH Gas Processing Company. This is the company which is bringing online a significant gas to power project towards completion with Seplat in Q3 2024, which is a massive 300 MMscfd.
Her recent experience and knowledge on that project which is coming online will add massive experience to our team. I wonder if this hire is designed to help us increase our gas contracts intime for CPF completion.
Perhaps and probably not out the question completely is could we pursue another Gas / Power deal in Nigeria, we know our preference is an oil deal, but additional gas deals in Nigeria are not bad if fairly priced especially with the recent pricing and sector reforms by the Nigerian government this year.
https://www.linkedin.com/in/julianaeigbe/
Business Development, M&A Joined August 2023
Perhaps if we can agree with chad to Compensate at a discounted amount for chad Doba field, whilst accepting our share in Cotco Separately would be a good outcome for all parties.
I believe someone posted a few weeks ago that SNH were talking to gran tierra about a partnership in Doba oil fields so it is definitely clear that they probably realise that they definitely need a partner to help them run the field as they clearly feel they will struggle to maximise the field otherwise.
We Know that Chad has elections next month on 6th May so perhaps they might take a different view once Deby has consolidated his power, perhaps for the time being he needed to appear with Chad first mentality to gain popularity but could pivot after he secures his win.