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Who thinks 4.30pm admission document and then trading resumes Monday 8.00am?
28/7/23 and 31/7/23 that is. And then a new SPA signed for >10kboepd on Tuesday 1st August LOL
Rockyride - It would be nice to have 24 hours to actually study the document.......... personally not a huge fan of releasing the admission document and re-listing on the same day.....
On a separate I am guessing you haven't spoken to anyone from IR this week have you to assess the state of play.......... I was expecting at least a Q2 update similar to how they released a Q1 2023 update but i am guessing they probably holding of as it might tie in with admission document..................................... also if they released it they would be bound to give an status update on south sudan acquistion where they are not yet ready to provide on
Can't think further than this acquisition for now to be fair even though we know the company is on the hunt for lots more but they truly need to get this one over the line first
Morning All,
For the more knowledgeable posters on here, can you answer a question I have, if we were to be re-admitted is there a set amount of time that we have to be trading for before we can or are allowed to grant another suspension.
I know silly question but i would have thought there must be some rules around back to back suspensions ?
I am going to be a devils advocate and say we will get an update next week to say they have extended by another month to 31st August 2023
Morning TiL, I've looked through the FCA handbook and the Aim rules and I can't find anything that restricts the number of RTO's or any time limits . In the FCA handbook, where it talks about analysing balance sheets for previous years it refers to companies which have gone through an 'RTO or a series of RTOs', so I suspect there aren't and we can go from one RTO straight into another. Hopefully it isn't the case though!
I suppose probably one of the many reasons why AK wants to stay on Aim, there is a lot more freedom to do this sort of things........
For the money man and deal maker that AK is, surely at some point he would seriously consider a dual listing on the NYSE -not just a move to the main market off AIM.
Oil Company valuations are much better compared to those in the UK. Even Shell is half that of its comparative US cousins.
This would give us even closer to parity on reserves, production, revenue and possible cash flow to Kosmos that has that dual listing.
Given that SAVE is already moving to become one of the biggest renewables investor in Africa and a target of 2.4 GW in motion in the next 17 months alone, surely the appeal for greater investor interest to lift the value must be significant.
AK himself is a very significant holder so i would be surprised if this will not be considered once the next few acquisitions are completed as i'm sure he'd rather have as much as possible for his shares from all possible value creation and recognition angles rather than less in the UK alone.
I think we will be undervalued in the UK alone and we will on all intents be both a very large oil & gas company and a major emerging renewables company.
Two things -
The SAVE oil/gas business should more reflect the growth to match that of Kosmos which itself is solely oil/gas - and by the way has no renewables arm.
KOS currently has a ÂŁ2.46b m/cap and $2.1b/ÂŁ1.64b net debt with 580 mmboe 2P & 61K boepd production.
The SAVE renewables arm could be floated off separately - but if not it should attract a significant valuation in its own right but i fear being part of a traditional oil/gas Co might be undervalued/misunderstood by being solely listed in the UK.
There must be valuations attributed to both in time.
Lekela Power with 1GW of operational African wind and a further 225 MW in development was sold for an enterprise value of $1.5b. I would hope to see our renewables division grow to a much greater level given the 240 GW African target by 2030.
https://news.cision.com/aker-horizons/r/mainstream-renewable-power-and-actis-complete-sale-of-lekela-power,c3736799
Zengas - I couldn’t agree more, I believe Kosmos valuation is higher due to the fact that they are listed in the US too which probably gives it a premium……………… but saying that our organic growth capacity from accugas, Niger, and South Sudan hopefully post closing could give us the potential to close that gap between us and kosmos. Even without another acquisition after this and renewables aside.
On the renewables front I would prefer to keep it under one umbrella for now as is one of the many reasons that we are able to access capital for oil and gas acquisitions for now as finders look at the companies ESG profile. I would also like to get to first power on some renewable projects first or at least begin commissioning the development before a spin out is considered as they say stronger together for now……….
I was just looking at the annual report this afternoon in detail. I couldn’t help but notice and didn’t know that they stated that they considering hydrocarbon acquisitions in Cameroon alongside further renewables so could that be a follow on deal which we could wrap up quickly
Page 68 annual report
Quote from Antonine Richard Chief Operating Officer Savannah
“We are actively working on further hydrocarbon and renewable energy asset opportunities in country”.
It was a sneaky way to put it in not many people ready the admission document word for word but I thought I would find time to see if something interesting popped up.
Suggest we could see a hydrocarbon deal in Cameroon quite quickly if they felt comfortable to quote as such also could come part of the admission document or quite quickly following.
South Sudan Embassy in London tweet - “completion of their missions in London” - sounds very cryptic let’s hope the mission include us………………….. …
Happy to host Hon Minister Puot Chol @mop_ssd; Hon Minister Awut Acuil MP @MinistrySsd & Hon Eng Awow Chuang, Technical Advisor @mop_ssd for courtesy visits upon completion of their missions.
The Hon Ministers applauded the Embassy for work conducted & professionalism displays
https://twitter.com/southsudan_uk/status/1682505779172065281?s=46&t=bdVeLrGB139mDog1SFRNlw