Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
One of the court cases is postponed to 26 April,article explains the dispute quite clearly, to me it’s a technicality but I suppose it can be looked at as a valid point. Go as always regards H.
https://www.thisdaylive.com/index.php/2023/03/07/n500bn-defamation-court-adjourns-seplat-suit-against-media-house-to-april-26/
Seatank,great find, to me MD olutunde seems very annoyed that these false allegations have surfaced, indeed he has confirmed it seems to be the doings of a rogue unproven community youths to slur seplat good name and commitment in the delta state, he touched on the Exxon deal and to me and the way he was speaking a result either way is not far off. Amen to that I say !!! Regards H.
This fiasco to me has gone on long enough, it’s almost laughable that Seplat inches it’s way forward ticks the boxes pays the £££ agrees a deal with Exxon, but in the background NNPC (a green eyed jealous monster) is hell bent on securing that sweet bit of pie for themselves. Every conceivable trick is played to scupper the deal for Seplat, but one issue still remains Exxon will only sell to Seplat or at least a far size pre portion of its assets, but although millions of $$$$ have changed hands NNPC still hasn’t parted with a cent ( well to my knowledge) NNPC wants to reap the rewards of a deal they have no part in. So it begins spanner’s thrown in to delay and undermine the deal for the shallow water acreage, and then what I see is a senior official of Seplat has taken the deal in to his own hands and potentially ****ed it up for everyone. I’m still a firm believer in seplat wether the deal fails, as we would surely be compensated for all that has gone on, well at least we would see rather 125$ million back. Surely seplat board must be at its ends tether and is close to saying enough is enough, let’s move on to something more obtainable. That’s it rant over !! As always good luck all H.
I don’t know if this had already been posted but a good article on the progression of the anoh gas project, I am aware this is dated last June 22.
https://www.thisdaylive.com/index.php/2022/06/28/anoh-gas-project-gets-boost-as-shell-takes-delivery-of-gas-treatment-skid/
Thanks H.
Peter obi wins
https://www.bbc.com/pidgin/live/tori-64760780
Fingers crossed for a blue day.gl all H.
Hi, just too say I was the one to buy 110000 just before close, I have taken a small position to see how things pan out, if things do take shape there is indeed great potential here. As always good luck all who hold, kind regards H.
A little off topic but a good read on timescales and scope of the anoh project, apologies if posted before regards H. https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/natural-gas/110921-nigerias-seplat-targets-mid-2022-startup-for-delayed-anoh-gas-project
Some great in depth posts here lately, I still won’t believe the Exxon deal is dead in the water, my initial thought on this a few months ago was a shared deal, other suitors would get a slice of the pie etc, I still think this. Although it seems looking at the sp the odds are stacked against me now. If the deal falls through and the $125 million gets returned, will seplat then use this too go after new opportunities, given the robust business frame and hunger to press on with making the company a global success story I think they will actively eyeing something else up. Think the talks last month may have come to a stalemate which were held in the u.s. I commend seplat for not yielding to any underhand deals ( not suggesting any were offered of course) and although we are back below a £1 I have faith that seplat will pull something out of the hat. As always good luck fellow holders. Regards H.
Really good write up by the times, link attached, Thankyou for your insights and valued comments everyone, I think imo Nigeria as a country cannot afford to let the deal not go through as there thirst for growth and energy out ways certain factions nit picking / profiteering at the proposed deal. It will take a little time to align these factors but I’m confident the deal will go through. Regards H.
Can u supply the link please??
Wow some big volumes pumped through late morning maybe somethings brewing ! Well here’s hoping anyway ??
Hi, yes the Nigerian government is entitled to a 10% cut of all divis stopped at source.
Temple / your hunch was right, i admit I have no idea but is there any indication of what the amount the ‘buyer’ is willing to purchase and at what price. The sepl at update is due in the next 2 weeks maybe news will surface then. Thanks H.
Damofarl yes some great insight by seatank etc, it’s always welcome information to read, so Thankyou all who have replied. Also interesting to see that the opec quotas may be forefilled by August, that in itself maybe hints on when any deal could be met, good find. I also spotted that there is a meeting pencilled in for the July 21st maybe something will come to light then. So it’s doldram time I think, if the share price tips much lower I will have to re dip my toes again for a further top up. As lawyers good luck to those who hold regards H
A couple of questions that have been in my head this morning, I would appreciate any opinion on them.
1. If the acquisition does not go through, will the initial $125 million be returned to the share holders in the way of a divi, will seplat re invest or pay some of its debt off.
2. In all of the press releases and media coverage nnpc always seem to be in favour and not once hinted about interfering with the sale of Exxon’s asset. In fact they always cheer seplat in what they are doing, so that makes me sway that they may meet seplat half way and agree a j.v. Type of deal.
3. This has been rumbling on for what seems an age now, surely Exxon must know what’s happening, so there must still be a deal on the table.
Any thoughts on my questions would be great or has anyone else have any other thoughts?
Thanks and regards H.
Any thesis on this temple or just purely a gut feeling ? I hope the mms get burnt on his and seplat make a surprise positive announcement ??as always I will hold on to this roller coaster until the real value is reached. Good luck all regards H.
I totally agree, the mm’s are keeping this down on purpose, this share has been stagnant now for a few weeks or so now, surely news is due soon, no news on Exxon yet, it’s a shame that the anoh gas plant was put back a year, but I suppose supply issues etc etc were inevitable. The pipeline we are waiting news on was quoted to be ‘very near completing’ a few weeks ago so fingers crossed, I was contemplating top slicing but knowing my luck it would take off, so I’m sticking with my gut and staying put,there has been some largish trades go through but they were showing a sell status, one for 60k and another just over a week ago for around 300 k, it’s very frustrating but with this share it’s a waiting game. As ever good luck those who stick it out regards H.
Seatank firstly can I Thankyou for all your diverse info about seplat' it’s really useful, looking at the latest post are you able to estimate when these hedges finally disappear and the full value of oil to seplat shows itself, I have had a brief look and tbh I cannot find a definite answer, are you able or none else to shed some light on timescales please, as always I hope the Exxon deal comes to fruition if not I’m sure seplat will make a play for the shell assets that are going to be on offer soon, thanks and regards H.
I wonder now if Exxon will show its valour and honour the deal originally set out with seplat, surely a huge intèrnational outfit like them will do the right thing? Also there must have been various clauses within the small print about this kind of thing happening, I think if this does not go ahead and seplat do not secure the deal that it signed up for, Exxon’s credibility would suffer greatly. I’m confident either way there will be penalty clauses written in, also even if seplat cannot secure the Exxon shallow water deal other opportunity’s will arise, as always just my opinion, good luck all regards H.