Member Info for happysparrow

Spooky? - telepathy?

This is from rayfenn on advfn:
'ENEO paid up last week. West Med sale very close.'

The $5m was due from Eneo by the weekend. I guess we have to assume that it has been received, being 'normal course of business' (although a highly significant sum for us). If payment has been delayed then that certainly deserves an RNS. So No News = good news, I assume.

Zengas put up a long post on LSE SAVE yesterday 'Trading for New Deals' which may interest some here.

as in foxtrot oscar.

This made me laugh - an apt reply to Johnson's broadcast tonight:
https://lockdownsceptics.org/wp-content/uploads/2021/05/2f890763-****-off-1621009097.3474.jpg

Tier, sadly AK deals in smokescreens; care is needed here.

Thanks, rift. Interesting diversion. 'On the Road' was one of my formative influences - and longtime traveller here (that's when I can next escape this current global NWO Covid tyranny). So helps remind me of just who I am.

Really interesting post, CO, and I've just read your back posts that I would recommend to everyone. Thank you. There seems to be a clear problem that the massive long-promised cashflow is not resulting in actual hard dollars to spend, and you may well have nailed it. My concern was always that promised cashflow would just be absorbed by increased trade receivables (i.e. rise in unpaid/late-paid invoices); and this still may be part of the problem, hopefully not. However, with the rise in the price of oil, the government can probably afford to release more payment - and hopefully this will result in enough actual cash for Save to both meet its debt commitments, and progress in Niger. The next results may give some indication of how this is going.

'Surely this is no longer a credible issue '
Z, that would be my concern still. I really hope it is not, but that explains to me the lack of progress over almost 18 months now. The accounts should give some indication even though reporting a period 5 months back. From a strategic point of view it is clearly insane that they have not pushed ahead in Niger, for if the cash is coming in then their seems no logical excuse for the delay. (Though you might be correct that cash is being diverted into an acquisition fund instead). So, progress on Niger will indicate to me cash (and TRs) is no longer the issue. And that is my entry point I've been waiting for, if I've funds available (got hit by TXP and Panr falls recently). You are right, it is a waiting game, and hopefully not much longer (my expectation for news on Niger is sometime Q3). It will happen.

Extracted from a post by Zengas on LSE SAVE (thanks, Z):

'... On the subject of West Africa acquisitions which we know Save are pursuing, Boru Energy formed by ex Tullow executives and backed by $1b from Carlyle Pvt Equity Group. They were supposedly top of the pack for Occidentals near 30,000 bopd Ghana assets but no word yet, though last nights earnigs from Occidental show that Ghana is now discontinued and the buyer imo should soon be announced. ("... included $445 million loss in discontinued operations related to Ecuador and Ghana").

Panoro, a much smaller company than Save recently bought 6000 bopd production for $140m and looking to pick up more in West Africa.

Also another set of Tullow Execs have in recent weeks bought out the old Sterling Energy board/sharehlolders and renamed Afentra "
5/5/21 - 'Former Tullow Oil executives have launched their Afentra venture, focused on production up and down West Africa. Paul McDade, Afentra CEO, explained the company is focused on opportunities arising from the exit of majors from the region. “That transition is based on maturing assets becoming marginal for the majors." Afentra has big plans. “The primary focus is on material production. We don’t want 1,000-2,000 barrels per day, we’re looking for multiple tens of thousands". https://www.energyvoice.com/oilandgas/africa/ep-africa/320392/afentra-mcdade-esg-producing/
....'

https://www.zsl.org/conservation/regions/africa/douala-edéa-and-lake-ossa-wildlife-reserves-cameroon

https://www.ammco.org/projets
Perhaps this is something worthwhile for our ESG initiatives?
Please uptick if you agree.
I'll email Kate Baldwin.

https://www.euronews.com/green/2021/05/11/race-against-time-the-giant-weeds-taking-over-lake-osso-cameroon

https://www.reuters.com/article/victoriaoil-idUKBNG13678320090424

https://en.wikipedia.org/wiki/Nadym
The main enterprise of the town is "Nadymgazprom", it's one of the branches of the Gazprom company. which accounts for about 11% of gas produced in Russia. Also, the city contains the largest of the independent gas producers "NOVATEK" (Yurkharovskoye field).
...According to the documents published by the WikiLeaks magazine, the Nadym gas pipeline unit is named the most critical gas facility in the world.[11]

https://www.gazprom.com/f/posts/07/832995/map_kharasav_e2021-02-16.png
http://images.energy365dino.co.uk/standard/126082_7a87a50d3cd24d7da925.jpg
http://petroneft.com/operations/west-siberian-oil-basin/regional-location-map-big.jpg
http://2.bp.blogspot.com/-EtkNXL-2SkQ/TyDmOLTLPgI/AAAAAAAAEok/oAMcy4Jk0TI/s1600/3%2BWestern%2BSiberia.png

http://images.energy365dino.co.uk/standard/105118_594582372cd143b69164.jpg
https://pg.lyellcollection.org/content/petgeo/18/3/253/F21.large.jpg?width
https://www.reuters.com/article/victoriaoil-idUKBNG13678320090424

https://www.gazprom-neft.com/press-center/news/gazprom-neft-s-digital-system-identifies-new-oil-strata-in-the-yamalo-nenets-autonomous-okrug/
https://www.gazprom.com/projects/#yamal

https://www.rosneft.com/business/Upstream/exploration/

...The Company continues to develop gas business. 729 km of 3D seismic were acquired in 2019 for the West Siberia gas assets of the Company, 3 wells were completed by testing. In 2019 the Company gas reserves increment in West Siberia made 86.9 bcm.

Study of non-conventional gas reservoir of Berezovskaya suite in West Siberia is ongoing. Unique technology of hard-to-recover dry gas reserves development was elaborated for low permeable silicite reservoirs of Berezovskaya suite in 2019.

A working group at Rosnedra State reserves Committee was established with the involvement of large Russian companies following Rosneft initiative to prepare the Unified temporary assessment methodology for volumetric data and gas recovery factor of Berezovskaya suite deposits. In 2019 the increment of ?1?1+?2?2 recoverable gas reserves made 30.5 bcm following well tests in Berezovskaya suite interval....

https://www.novatek.ru/en/about/company/
https://www.novatek.ru/en/business/exploration/
...In 2019, NOVATEK continued exploration on the Yamal and Gydan Peninsulas to expand the resource base....
In order to maintain pipeline gas production levels and unstable gas condensate volumes sent to the Purovsky Plant, we continued exploration in the fields and license areas within the Nadym-Pur-Taz area located in the YNAO.