We would love to hear your thoughts about our site and services, please take our survey here.
Good morning from Bangkok.
https://metro.co.uk/2022/12/28/six-hour-queues-show-what-its-really-like-owning-a-tesla-at-christmas-18004669/?ito=article.app.share.appbar.generic
Hi Agadem
I didn't agree with your initial interpretation of that RNS but I also thought that the response to you was disrespectful and not at all typical of this particular bulletin board. I didn't upvote the response.
I've made posts here myself that have subsequently proven to be wrong or at least not a good interpretation of affairs. That said, it's good to get ideas out there as we all learn from each other.
Please know that you are very well respected by the vast majority of other posters on this BB. I fully understand if you don't want to post details of your IR conversations going forward; entirely up to you, but I've really appreciated all you have posted and your thoughts in general.
I would encourage everyone posting to be civil and constructive, even if we disagree. Otherwise the BB ends up like most of the others which are generally mostly garbage.
If anyone in SAVE's IR team is reading the BB, please know that we'd prefer to learn things from the company directly, rather than Africa Intelligence, TchadInfo or some other newswire: thanks.
Blimey. I'd better not mention the Nigerian presidential and general elections on 25 February then.
Thanks, Zen. This is encouraging in a week otherwise filled with...
So, I hoping that by Easter we’ll have SS completed, be relisted, have a clear updated Niger plan for 2023 oil and continue to see Nigeria gassing away and maybe even another customer added.
Call me Walter Mitty on the above, but....Chad-Cameroon, including the renewables of course, is dead I think. I base this on reflecting on what the true consequences of Wednesday’s actions are. IMO of course.
Happy Christmas, everyone. Thank you all for making this an informative, educative, entertaining and good-hearted bulletin board. Here’s to better progress next year.
I'd expect an RNS to this effect fairly soon too. With some caveats.
I imagine that at least some of those who have left the country are the authorised signatories to the bank accounts (which will have been taken over by the Chad government).
My gut feeling is that this is all over. The assets have been [taken away] yesterday: insert your own past participle. My question now is what is Savannah's liability beyond the legal fees.
It may well be all over, but I'd expect the legal and PR soap opera to run and run.
I certainly don't blame Savannah's management and team for any of this. We can use all kinds of words to describe what the Chadians are doing, but that serves no purpose. Escargots, anyone?
The small matter of who is funding day-to-day operations and paying salaries going forward seems pertinent...
They'll surely have to put out and RNS, but I imagine it will say as little as possible.
Totally agree with you, TIL: the more that's resolved prior to relisting, the better.
https://twitter.com/Savannah_Energy/status/1605140222290927618?s=20&t=vgMbmA_Cd0JG1u-9vXC6vw
Quite right, noix.
I *think* it's more a "we don't know yet", rather than an "it might get taken away".
Good to have some year-end guidance. Net debt reduction most encouraging. Capex obviously well-down due to "events, dear boy, events".
Good morning, everyone.
Agreed!
https://twitter.com/Savannah_Energy/status/1604812719370051584?s=20&t=t4Av7NbpgbtGZ7ye-4GO7Q
...so it on Facebook and, zut alors, un website de news. I couldn't see it on https://petrole.gouv.td/
May be it really is from the Chadian government or perhaps its a "donnez moi un break" moment.
I've yet to decide...
Terse rebuttal.
From a poster on advfn: I have not verified,
"Block 5A - Petronas 67%
The Block will produce more than 8,000 barrels per day (bpd) by the end of 2021, 16,000 bpd by mid-2022; 30,000 bpd by 2025 – and is expected to reach a peak of 45,000 bpd in 2028 once four field development projects have been completed"
Apparently, you can't say "f@g". Blimmin' wokies.
Very rough, huge assumptions
If their average working interest is 40% x 153.2kbopd x 320 days x usd30/bbl (say), that's a netback of usd588m p.a. on a price tag of up to 1.2busd.
Holy cr@p
First of all, like everyone else here, I'm delighted.
The notes 6-10 of the Exxon financials on pages 42-43 give a flavour of what contribution is added on day one (before workovers). Even at current crude prices (12m lows), revenue for a year should about equal or exceed the 2021 numbers. Costs look alarming at first blush, but there's a big chunk for writing down of assets and also deferred tax (due to difference between tax book value and accounting book value). There's also the sharing of costs with Petronas and the SOEs (JV cutbacks). Leaving out the tax mess, I reckon net O&M, staff costs and other admin total about USD110m and then interest expense on the loan will probably be about another 15-20m. This looks good in the context of a healthy oil price (the OPEC put) and field ripe for workover and infill drills.
They disclose that production rates in 2022 are similar to 2021 and also that Petronas is,still on and expected to close in H1 2023.
Some big assumptions go in to all this, but if Doba prices hold up, you could see the 170m debt going to zero in the 24 months implied in the docs.
Hoping for a move to 33p ish on Monday (pure guess) and steady consolidation from there.
Best wishes, everyone.
One pound and a pile of dividends.
Yeah, mister White, yeah science!
Buy the periodic table.
Ten business days from the. RNS seems to take us to the eve of the long-stop date.