Firering Strategic Minerals: From explorer to producer. Watch the video here.
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Savannah gets a wee mention in this interesting article by forbes. Hoping that ICSID are able to really come to a ruling quickly in our favour, if they don't than it could send a dangerous precedent for future countries attempting to nationalise resource without doing a proper transaction putting a lot of foreign direct investment at risk
https://www.forbes.com/sites/arielcohen/2024/03/04/chaos-in-chad-endangers-energy-experiment/
Poor article which highlights many of the problems in dealing with these people but omits arguably the most important one
, Savannah's dispute with Chad and the nationalisation of our assets. Threatening and doing are somewhat different animals, although both members of the same family. The follow on from this is of course the negative impact this must be having of further international investment in Chad.
Quite incredible that the author skirted round it.
The paragraph below no sense at all in particular this line "Chad is actively seeking collaboration with local and international entities that share mutual interests in driving upstream exploration"
This is what Savannah was planning to do, african oil and gas is so convoluted, it's hard to make sense of it all really what they promote publicly and what they do in reality is so misaligned and they still want to attract investment.
It's clear to see nationalising the asset and taking over petronas stake without a plan will only lead to lack of investment and they simply don't have the technical expertise to increase production.
Chad remains open to strategic partnerships aimed at developing its resources, notably in the Doba Basin, a cornerstone of the country’s oil production. Previously explored by industry giants ExxonMobil and Shell, the basin is estimated to hold significant untapped hydrocarbon potential and is home to the Kome heavy oil field, which contributes roughly 7% to the country’s daily output. Chad is actively seeking collaboration with local and international entities that share mutual interests in driving upstream exploration and harnessing the country’s oil and gas resources for added socioeconomic development and energy security.
https://energycapitalpower.com/chad-gears-up-for-new-investment-ahead-of-iae-2024/
Trust
"It's clear to see nationalising the asset and taking over petronas stake without a plan will only lead to lack of investment and they simply don't have the technical expertise to increase production."
Go to SHTs f/b page and you will see they had meetings with Gran Tierra (GTE) yesterday in Chad.
Thanks zengas and I must say a brilliant find. For the rest link below.
This makes it more frustrating clearly it’s more personal with Savannah if they don’t want us. On the finer detail. I wonder if they are going to sell the whole Petronas stake on or part of stake from their current holding excluding Exxon / Savannah stake which is being arbitrated.
Surely they can’t touch Exxon stake until arbitration is concluded and gran tiera wouldn’t want to be caught up in buying a stake which is being arbitrated unless through mediation Savannah and chad have perhaps reached an agreement that chad can find a buyer of their choice who is willing to pay the same price as we did for the stake which was circa $400m, Exxon get there outstanding balance and we get the rest for our troubles.
On second thoughts I feel chad bitten of more they could chew with nationalising and now to save face they can’t go back to Savannah as politically it would look comical so best option is find a new buyer I.e gran tiera and spin the story to say that they found a better deal when in reality it’s the same
https://m.facebook.com/sht.tchad
I for one hope that Savannah are well informed on this and to be spiteful I hope Savannah are getting there lawyers involved in case chad start to sell the Exxon stake to another party.
Trust - I can't see Gran Tierra or any publically listed company getting involved in a disputed asset until the case is resolved.
The Petronas Doba fields and pipeline share in Chad is a different matter.
Nothing on GTEs website at all but they are still looking for assets and i think SHT have inadvertently put those discussions up on facebook.
This from AI just under 2 years ago ( i didn't renew a subscription at their exorbitant prices) 18 months ago.
' New kid on the African blocks
In addition to Tullow Oil, another Canadian firm will potentially join the Elumelu venture to take over SPDC: Gran Tierra. This company produces around 30,000 b/d in Colombia and Ecuador but has never been in business in Africa. However, the elections in Colombia at the end of May 2022 have raised concerns that the oil sector could be put at risk if the radical left-wing candidate Gustavo Petro is elected. Petro, a senator and former mayor of Bogotá, has hammered home the point that he would invest massively in renewable energy and block any new hydrocarbon exploration in the country. Gran Tierra is thus counting on Nigeria to flourish in the event of a change of policy in Colombia.
Although Gran Tierra does not yet have a stake in Africa, its chairman and CEO Gary S. Guidry knows the continent well, as he is also a director of Africa Oil (which bought Petrobras in Nigeria and is engaged in exploration in Namibia, South Africa and Kenya). Guidry was also CEO of Caracal Energy between 2011 and 2014, which operates blocks in southern Chad that were sold to Glencore. The trader himself has just concluded the sale of his assets to Perenco in 2021 (AI, 19/01/22).'
Also just reverting back to Niger,
Saves Chinese partner in Stubb Creek were negotiating for R5, 6 & 7 in Agadem last May. Surely if anyone is negotiating for those blocks there could surely be some partner interest for our block previously known as R1, 2, 3 & 4.
Thanks Zengas - It would be interesting to see how Gran Tiera conversation proceed and the substantial pivot from nationalising 12 months ago to now trying to bring in a partner.
Perhaps this was the deby plan all along nationalise the asset to please public for the elections which are in May once he secures the election than perhaps pivot away from nationalisation