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Why have they not put out an RNS stating that despite the dire macro economic situation business gas production is continuing and indeed has increased in Nigeria and SAVP is being paid in line with contractual arrangements.
If there are any problems that is material news and demands an RNS. These are exceptional times and share holders deserve an RNS one way or the other. AKs reputation was already shot to hell before this nightmare started what the hell is he playing at. Releasing tweets in this situation suggests to me that they have some good information but want to hide the bad . Otherwise why no formal RNS.
Ok so i am new af to this chat, i am an amateur at this, i have been dabbling in shares for around 4 months, picked some bits up along the way. currently invested in pharos energy, tullow oil (which has had a great few days) and i have around 70,000 shares in savannah....... when the hell is this stock going to move it just sits there day after day with barely a sniff of a change. anyways ... HI
Why don't you re-tweet them with your comments below?
Gas is at a 4 week high this morning, hopefully the rise will continue today.
Hi. Heard back from Sally last week they haven't had call on the guarantees in place for either Calabar or Unichem. Glad to hear work is preceding and staff are healthy. That's most important thing. Hope all of those that post are keeping well. Sad to say we lost one of our nurses on Sunday. ATB cj
As mentioned, if there were any issues with payments atm, its very unlikely they would be supplying even more gas, so looks positive to me.
It would be interesting to see the revenues being created through the extra Gas sales at present. FCF should be looking very healthy.
If payments are being received. i think they should take advantage of these share price levels, and buy back a block of shares from the market. Considering in December some institutions took more at over 20p, this would make logical sence to me.
there's a few new tweets from their account: https://twitter.com/SavannahPetrol
Lobon i believe there are a few on here who are awaiting the same clarity so as to press the buy button. did a bit of additional buying around the 7p mark but want some reassurance before adding further.
probably true but we need clarity in the form of an RNS
Can we gain any comfort that surely they wouldn't pump more gas if they weren't getting paid ?
my very crude summary
lets say savp have made a $10m free cash flow per month since they took over seven assets , lets say a modest 4 months equating to $40m profit as Net asset-level free cash flow generation of circa.US$130m p.a.
thats 50% of current market cap (£75m)in just 4 months ... seems incredible and massively undervalued .
only question remains are they getting paid or using world bank facility
i am sitting on funds to top up be won't due to lack of clarity
or perhaps the II's are being kept well informed in an informal fashion..
leaving me and you to hope for the best in terms of payments for gas being received one way or other, some time or other
tweets are very positive today operating above usual day to day production rates
only question is now are they getting paid and how much ? why the silence for a long period and forward plans for 2020. not much to ask really AK.
i've pretty much come to the conclusion that management don't give a toss about shareholders and will do it their way regardless . however i do wonder about the larger holders stance here , perhaps a takeout could be looming hence radio silence
Another tweet
Savannah has been a very dependable source of gas supply in Nigeria during the COVID-19 crisis. We have stepped up production to help ensure a reliable supply of gas is available for power generation during the country’s lockdown.
We are conscious of the issues COVID-19 poses. To date, our operations remain unaffected and we continue to monitor the situation closely, so we can continue to operate the business while keeping ourselves and our loved ones safe. #SAVP #COVID19 #EmployeeWelfare #WorldHealthDay
Again the market rises and again SAVP is one of the very few non movers. I have written again to the company for some clarity with regards to gas payments and whether they would like to quash the rumours of non payments.
They have never responded to any of my emails before so i won't hold my breath !!
Final Results should be out in May. There still appears to be a large seller holding price down. Same with Pharos Energy. Everyone who was going to buy has bought and now waiting for clarity from SAVP that nothing seriously wrong.
Frustrating to be missing out on improving sector sentiment but unless Company updates re gas payments, it looks like we are going to be stuck here for a month.
Yes everything rallying from catastrophic low levels with the price rebound apart from savp! shocking lack of communication.
The silence is deafening. What we need is a broad update on what is going on. Didn't someone mention recently that we were due an "imminent" update?
Oil is up nearly 50% from last monday, gas up 5% this morning, virtually everything on the market up today except wait for it " SAVP" FFS have the market makers just locked the door on this one ? a 25% spread doesn't help.
Lets hope the 10m BOOPD Trump talked of is true. Though i feel the Yanks need to tip up and take a haircut as well, "though there's may be a bit more of a forced closure" me thinks !!
https://www.argusmedia.com/en/news/2093293-opec-other-oil-producers-to-meet-next-week
Oil up nearly 30% from its recent low, we still languish near our lows ? gas still near its recent lows.
decent buy this morning to start the day would have hoped for 9/10p with rise in POO
MCB
the cost is negligible of trucking a barrel a rather generous $1 max per barrel
no sign of a significant pay cut yet for the board!