Member Info for happysparrow

Risky -extract: 'Despite it being a changing landscape, I'm pretty well up to speed in things relating to the Nigerian power plant sector payments and lack of liquidity in the sector. Savannah have navigated these issues successfully during 2019 not least because of the partial risk guarantee, which has worked well.....
So there's no need to rely on a company RNS to get a handle on how things are for the Accugas business currently and how it should pan out going forward into 2020.'
You say 'On the evidence available, and taking into consideration that article, this is still the case. '

There is no evidence available from SAVP on this - that is why we need the RNS.
The article states there were unpaid invoices of $66m for Jan-Sep 2019. Projected at the same rate, by March 2020 there will be unpaid invoices of $132m. According to the article, the guarantee is for a maximum of $118m. Then project for a further 6 months!. The Nigerian Govt is far less able to pay now that the oil price has fallen well below their budget predication. And just how effective is a guarantee that, if you call on it, you will damage the credit rating of a country and lose the goodwill of the Nigerian Government to the extent that you might as well exit the country (perhaps a good thing?)?
These 'unpaid invoices' are of critical importance. We need that RNS.

Thank you, nen.

Sankeys, I sold out in February at considerable loss. I stopped posting then, and only started again when Risky made, in my view, a seriously misleading statement regarding the need for an RNS on this matter. If that matter can be cleared up satisfactorily then I might reinvest - but 'might' is a big word when you have lost the trust of the BoD to reveal material information.
Check out my posting history before casting aspersions.

First Squawk
@FirstSquawk
·
54m
RUSSIA'S ENERGY MINISTRY HAS CALLED A MEETING WITH RUSSIAN OIL COMPANIES FOR WEDNESDAY || RUSSIAN ENERGY MINISTRY TO DISCUSS FUTURE COOPERATION WITH OPEC AT WEDNESDAY'S MEETING

Tier, the only figure you need is the balance for all the outstanding 'unpaid invoices' at month end February 2020. They know that figure, they just have to report it. The non-disclosure of this key monthly information has gone on for over a year; a year in which the CEO has taken a huge unjustified whack out of the company, and, if I recall directly, no director has bought.

worthwhile article:
https://seekingalpha.com/article/4330764-oil-saudi-price-war-scenarios

Thanks for putting the other side of the argument.
Lets hope one of them backs down soon.
I read a post this morning (on lse/advfn?) that there was an OPEC technical meeting for 18th March. - maybe that will sort it? (perhaps a production cut of 1m barrels without Russia?)

14.5p to buy in Canada.
Cash 33p. No debt. Gas production.
Madness

Interesting analysis and discussion on advfn PTAL:
from pro (thanks):
Only Saudi wins in oil.....they can bring on 2M bopd instantly.........Russia can only increase around 300K. So if Saudi undercut any Russian price and ramp up......Russia sells minimal oil, Russia collapses. Remember, Russia agreed to extending existing cuts to year end, but would not increase further saying they were happy with 45$. Now they are faced with 30$ and selling around 2M bopd less than before - thats massive on their budget - Rouble collapse scenario. All they have to do is agree to cut a bit more........nothing else - now they face chaos...... 3 weeks to go to make an agreement. I expect the Rouble to start a massive sell off now. Already now 73 Roubles to 1 Dollar and climbing - thats fast approaching a 5 year low for the Rouble.

https://www.ft.com/content/804d6c82-61aa-11ea-a6cd-df28cc3c6a68
Virus: Active cases 43913 (China 18942)
Likely to take a hit from oil price today?

latest figures: active cases 39391 (China 23731)
[2nd March: active cases 40863 (China32577)]

Note rapid decline in China.

https://oilprice.com/Energy/Energy-General/OPEC-Presents-Russia-With-Production-Cut-Ultimatum.html

https://oilprice.com/Energy/Crude-Oil/Deal-Or-No-Deal-OPEC-Proposes-15-Million-Bpd-Output-Cut.html
Fingers crossed for tomorrow.

Earache, thumbs up for your contribution to the Facts4EU website today (and yes, kzb is a regular pain in the posterior).

Thank you, Risky. Yes, that was the article I was referring to. I had no intention of putting it on this board, and I sold up at considerable loss as soon as I read it.
In my view SAVP must now provide a full RNS on this matter so that all shareholders are properly informed as to the current situation.

Itsriskythat - no criticism of you, but you have missed a key article on the internet - one that a number of shareholders and bondholders most likely have not.

From one of my favourite websites:
https://facts4eu.org/news/2020_mar_coronavirus
'... we felt we had to put out a public service article stating the bald facts. We are not doctors nor epidemiologists. We do, however, have a lot of experience in observing how quangos in the EU and around the world have started to act as if they can define the news agenda, rather than simply providing facts on it. We constantly observe these organisations growing and spreading their influence as much as they can. More funding usually follows....'

Thanks to mr. t on advfn.
https://en.vietnamplus.vn/deputy-pm-receives-singaporean-energy-firm-s-leader/169566.vnp

IRT - '...Savannah have navigated these issues successfully during 2019 not least because of the partial risk guarantee, which has worked well..... So there's no need to rely on a company RNS to get a handle on how things are for the Accugas business currently and how it should pan out going forward into 2020.'
Hmm?

From website - March 13th (not 12th, as in RNS of Jan 15th)