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These types of situations are often a precursor to the shares coming back at a fraction of their pre-suspension price. Not saying that will happen here... but something is clearly deeply amiss.

Sally's busy with her French classes.

Platinum.matthey.com

Money raised at 7 pence is being spent on these projects...

Thanks

This is a disgrace.

Sally: what the hell is going on?

Yes, Tier, I asked: the question was effectively ignored.

Bless you, atrust: so kind.

What wasn't said was deafening.

LIQUIDITY

Agree. Questions are worthy of the BBC....

The Instits clearly have no confidence in the board of directors otherwise theyd have re-upped well above 7 pence. So vultures and the board of directors get in potentially very cheaply. Potentially.

Lots of plans in the last four years: very little delivery.

We have the existing Accugas business.... and a *lot* of hot air.

I said recently that cash collections were getting to critical levels. We are now in a liquidity crunch by the look of it.

I have been using Grok (x.com AI tool) to ask difficult questions about various aspects of Savannah's existing and target business. It's wildly powerful, mostly very accurate and quite entertaining.

I'll be kind and not make comparisons with the IR department...

...is turning it to an extremely serious issue.

Https://x.com/Savannah_Energy/status/1879884712841191510

Which country on the Bingo Card is this one for?

Thanks for posting, Gooseman. I said the same to a fellow investor when I read this.

I mentioned recently that Savannah's spend in Niger is negligible: this article goes a long way to explaining why. A canny approach by management.

Back in the Permo-Triassic era, I built a reasonably detailed DCF model to value the company and shared a summary here. Niger came in at minus a couple of pennies: nothing has changed that valuation for me.

Furthermore, the T2K-speak of "continu[ing] to seek to progress" the Niger oil deal speaks volumes.

This company has:

An encouraging business in Nigeria

A contingent asset in Chad and Cameroon which may be more than a bit tricky to monetise

A seat at the roulette table in South Sudan

A Nigerien pipe dream

A tenacious, intelligent and patient chief exec

A poor, poor IR performance.

Except for the glossy last June, we're pretty much clueless. May as well enjoy life...it certainly speeds by.

Best wishes to nearly everyone...

Spend in Niger in the 18 m to June 2024 according to segmental reporting from the company is... tea money. The comments in the interims on the Niger hydrocarbon business were ominously brief.

Is the oil now dependent upon commissioned wind? Easy to dismiss this as too negative, but maybe not if one reads the pretty gantt chart in the presentation of 31 Dec 2021 which flagged potential R3 East first oil as mid-2023.

This X post today has a specific audience. And it's not the investors, institutional or us lot. But who?

Https://x.com/Savannah_Energy/status/1876646869519982995

1. Why post this now?

2. Excerpt: "We are continuing to seek to progress our 35 MMstb (Gross 2C Resources) R3 East oil development." This is Sir Humphrey Appleby language. What does it mean?

I have thought for some months that something is amiss wrt Niger progress. Sigh.

Same, encouraging, news:

https://www.radiotamazuj.org/en/news/article/south-sudan-to-start-producing-90000-bpd-on-wednesday

While I'm here, Savannah management team, this is the year that things have to start coming to fruition:

1. CPF

2. Niger oil work

3. Debt structure

4. Stubb Creek 50%

5. Other Nigerian drills.

Management has at least majority influence on these five. I'm not mentioning CC arbitration or SS in this list as management obviously has limited influence on those outcomes (at present).

Little progress in 2025? Last chance saloon in 2026. Close to the edge now...

Many thanks, scott309.

If the company hadn't seen the need for suspension of trading on the basis of the original SS deal, then I'd say that the post-Petronas version of the deal (where other potential off-takers are apparently also involved) would make the case for continued suspension even weaker.

It seems lack of trading is not down to our board of directors. It *may* be that some shareholders are directing their frustration at the continued suspension towards the wrong party.

That said, the company would have bought itself some goodwill if the basis for the continued suspension of trading had been made clear and had named the party or parties demanding it. Strand Hanson: I'm looking at you over the top of my spectacles...

I know the original deal was abandoned in August, after the AGM. But I understand that at the AGM, it was set out that the Company didn't want the suspension, but the exchange (or possibly NomAd) did.

I wasn't at the AGM (and couldn't dial in for most of it due to yet another comms shambles), so perhaps someone else could either corroborate this or tell me that I'm talking a load of Kier.