Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Date Broker Recomm. Price Old Target New Target Notes
10 Oct Barclays Capital Overweight 0.00 31.00 37.00 Reiterates
09 Oct Shore Capital Buy 0.00 - - Reiterates
01 Oct Shore Capital Buy 0.00 - - Reiterates
30 Sep Shore Capital Buy 0.00 - - Reiterates
16 Sep Shore Capital Buy 0.00 - - Reiterates
https://www.sharesmagazine.co.uk/shares/share/SAVP
The ?? supposed to be a thumbs up .
Telegraphist, Agadem and ZENGAS very many thanks in particular for your informative and well researched posts. I took my initial position in SAVP three years ago when Jessica made the first SAVP presentation in London, since then i’ve added and now have a sizeable holding. I fully appreciate this is an SAVP forum, however, if you do have a moment please do look into the Borba prospect in California and a tiny ASX listed company, Sacgasco. I’ll say no more. I’m heading off into the Eastern Desert shortly so out of comms for a while. In a few weeks time hopefully great news on both these investments. ??
'' Export pipeline: CNPC making fast progress with partner CPPE
The Chinese state-owned oil firm CNPC wants to waste no time in building the pipeline that will connect the Agadem block that it has operated since 2008 to Benin's port of Seme.
This new facility will allow the firm to export some 90,000 bpd by 2022 while still supplied the Zinder refinery (20,000 bpd).
According to our sources, work should start as early as January now that CNPC has the greenlight from both Benin and Niger (AEI 845).
As in 2008 where CNPC needed to connect Agadem to the refinery in Zinder, all of the work to connect the block to Benin will be overseen by China Petroleum Pipeline Engineering (CPPE). CPPE plans to bring in hundreds of Chinese workers to carry out the project (AEI 843). ''
Well spotted ' happysparrow'. !
'' Materially undervalued: As outlined in the table on the following page, we value Savannah at a Total NAV of 92p/shr, comprising Core NAV of 56p/shr (2P reserves in Nigeria adjusted for net debt and other corporate items), Core plus development (effectively 2P+2C resources) at 75p/shr, and exploration NAV (unexplored acreage in Niger) at a further 17p/shr.
On this basis, we estimate some 320% upside from Savannah’s current 21.2p/shr share price to our unchanged Target price of 89p/shr.''
https://www.savannah-petroleum.com/downloads/Mirabaud%2027.8.19.pdf
'' Investment case
Savannah offers a combination of solid FCF generation funding cash returns to
shareholders, growth from new developments and exploration upside.
Savannah now trades at a 74% discount to our risked NAV of 84p/sh after significant
under-performance, despite material exploration success.
There are plenty of catalysts, most importantly the closure of the Seven Energy deal and first oil in Niger, to narrow the discount. We think the market is over-estimating the risk profile of the company and with time will acknowledge the stable cash flow from gas sales in Nigeria, notably underwritten by payment guarantees from the World Bank.
Once the Seven Energy deal closes, Savannah will start generating
significant FCF with plenty of further growth optionality.
Niger discoveries should provide a second leg of cash flow, in a country with a very supportive Government and benign operating environment.
In Niger there is the potential for further exploration success but more importantly we see an early production system going ahead shortly, generating revenue in early 2020. ''
https://gallery.mailchimp.com/110d0aa5f5d9bf9478796664e/files/622fcf2b-8549-4210-9c51-46e8fb507fba/Savannah_Note_Aug_19_new.pdf?utm_source=H%26P+Master+Contact+List+%28Sements+and+Tags%29&utm_campaign=00987e82d3-EMAIL_CAMPAIGN_2019_07_02_10_23_COPY_02&utm_medium=email&utm_term=0_dd4f91613c-00987e82d3-98981107
https://www.legit.ng/1255460-full-list-buharis-ministers-portfolios.html?utm_source=onesignal&utm_medium=webpush
AUGUST 21, 2019 / 1:54 PM / UPDATED AN HOUR AGO
Nigeria's Buhari assigns cabinet portfolios, appoints new oil minister
ABUJA (Reuters) - Nigeria’s President Muhammadu Buhari swore members of his cabinet into office on Wednesday, assigning a new minister of state for petroleum in Africa’s top producer of crude oil.
Buhari kept the petroleum portfolio for himself, as in his first term, and appointed Timipre Silva as minister of state for petroleum, who is widely expected to manage the portfolio on a day-to-day basis.
Nigeria, which has Africa’s biggest economy, remains heavily reliant on crude oil sales despite efforts by Buhari to boost non-oil revenues since he first took office in 2015. Oil sales account for about 90% of foreign exchange and low oil prices helped to push the country into recession in 2016.
Silva, a former governor of Bayelsa state in the southern Niger Delta oil production heartlands, replaces former ExxonMobil executive Emmanuel Kachikwu who was the country’s main representative at OPEC meetings.
Zainab Ahmed retained the position of finance minister.
The cabinet of 43 ministers faces a long list of challenges including tepid growth following its emergence from recession in 2017, along with high unemployment and widespread insecurity.
The move to assign portfolios comes six months after Buhari won a presidential election and nearly three months after his second term began. The time taken to appoint ministers caused jitters amongst investors and threatened growth prospects.
Reporting by Felix Onuah in A
On 22nd August 2018 SDX was at 58 p, today 16.25 p. Playing Devil's advocate. Assuming the drilling activities for S D and Morocco in Q4 and Q1 2020 proceed successfully, what target price does this forum believe SDX could attain by 01 April 2020 ?
I understand regarded as procedural and well planned for in advance by SAVP in anticipation dusty.
Savannah Petroleum PLC Receipt of Ministerial Consent for Transaction
19/08/2019 7:00am
UK Regulatory (RNS & others)
Savannah Petroleum (LSE:SAVP)
Intraday Stock Chart
Today : Monday 19 August 2019
Click Here for more Savannah Petroleum Charts.
TIDMSAVP
RNS Number : 4532J
Savannah Petroleum PLC
19 August 2019
19 August 2019
Savannah Petroleum PLC
("Savannah" or "the Company")
Receipt of Ministerial Consent for Seven Energy Transaction
Savannah Petroleum PLC, the British independent oil & gas company focused around activities in Niger and Nigeria, is pleased to provide an update in relation to the Seven Energy Transaction (the "Transaction").
Seven Energy International Limited ("SEIL") has received notification from the Nigerian Department of Petroleum Resources that His Excellency President Muhammadu Buhari has approved the transfer of the Seven Assets (SEIL's entire interests in Seven Uquo Gas Limited, Universal Energy Resources Limited and Accugas Limited) to Savannah or any of its subsidiary companies (collectively, the "Consent"). As anticipated, the Consent is subject to the payment of all taxes due in relation to the Transaction within 90 days of the receipt of the approval letter conveying the Consent.
The receipt of the Consent represents the satisfaction of a significant condition precedent for the Transaction. The principal remaining conditions precedent for the Transaction relate to the execution of long-form documentation in relation to the Accugas debt restructuring and the Frontier Swap, following which the Transaction completion process is expected to commence. This completion process will follow pre-agreed steps as set out in the legally binding Implementation Agreement which was signed in February 2019.
Further updates in relation to the outstanding conditions precedent and Transaction completion will be published as appropriate, and completion will be followed in due course by the publication of a Supplemental Admission Document.
Andrew Knott, CEO of Savannah Petroleum plc, commented:
"The receipt of Consent in relation to the Seven Energy Transaction is a significant milestone for Savannah. I would like to take the opportunity to thank the Federal Government of Nigeria for their support in relation to the Transaction. I look forward to working with all stakeholders as we advance the Seven Assets."
The Seven Energy Transaction refers to the planned acquisition by Savannah of the Seven Assets and the restructuring of Seven Energy's existing indebtedness, as more fully described in the Company's Admission Document dated 22 December 2017 and per the Company's RNS announcements dated 20 September 2018 (specifically relating to the gas for oil swap with Frontier Oil Limited and the buy-out of minority shareholders in Universal Energy Resources Limited) and 21 December 2018 (specifically relating to the acquisition of an additional 55-60% interest in Accugas as well as the sale of a
Good spot happysparrow :
Niger aims to raise its oil production currently estimated at 20,000 barrels per day (bd) to 500,000 bd by 2025-2030, said President Mahamadou Issoufou in an interview this week to the magazine Jeune Afrique.
According to him, the good economic growth of the country, with forecasts around 7% for the next five years, is driven by investments in infrastructure, agriculture, oil and to some extent by uranium.
Referring to the oil outlook, Issoufou said he would aim for a quintuplement of production by 2021. "Our self-sufficiency reached, the next step will therefore be to become an exporter of crude," he said, before adding: "To 2025-2030, our capacity should increase to 500,000 barrels a day, which will allow us to seriously consider our membership in OPEC. "
As a reminder, since 2011, Niger has been producing oil as a result of the exploitation of the Agadem deposit (north-east). It now has a complete oil industry, producing a high quality oil processed by the Zinder Refining Company (SORAZ).
Current production is 20,000 bj for a national requirement estimated at 7,000 bj. With the next start of the second phase of operation of the Agadem block, thanks to an advantageous rider to the production sharing agreement adopted in June 2018, Niger aims to boost its current daily crude oil production five fold to 110,000 bpd. 2021, an official source said.
Meanwhile, according to the Nigerian Minister of Petroleum, Foumakoye Gado, several reforms and concrete structuring projects are being implemented in Niger to deal with infrastructure and supply problems.
For the routing of crude via the port of the economic capital of Benin, Cotonou, it is envisaged the construction of a pipeline of 1,980 km.
A bilateral agreement for this project valued at $ 4 billion was signed last January in Niamey by Mr. Gado and his Beninese counterpart Samou Seïdou Adembi, it is recalled.
Added to this is the project to build a multi-product pipeline of 1,076 km on the border of Burkina Faso, crossing the major consumption centers in the interior of the country. It "aims to also provide food for neighboring countries, with economic, social and environmental benefits," said Gado.
The Nigerian Attorney General has advised will appeal, this will most likely disappear into the long grass over time ? as the case is the agreement was drawn up under Nigerian law not British. Please DYOR.
Ministerial two day induction Monday 19th and Tuesday 20 th August
Ministers sworn in : Wednesday 21st August
Pure conjecture. With CGC’s excellent track record and complete involvement in the drilling of these wells it would be interesting to know what the CoS figures are. All will be revealed one hopes once the four exact well locations are confirmed. In the meantime, the $ mill. ? hold or buy ....
A good forum here on LSE re : the future of ECHO with TA and CGC . I've taken a small position after the Q & A.
The ' Elephant in the room ' perhaps is whether there's adequate funding to complete a four well drilling programme but surely CGC aren't going to embark on such a programme with 81 % fiscal responsibility unless they're comfortable with the TA prospect ~ interpretation of 2D and 3D seismic ?
Tiers : different circumstances with Siemens ~ as the result of a direct meeting between the Heads of State on 1st August 2018 :
' President Muhammadu Buhari on Monday witnessed the signing of Electricity Road Map agreement between the Federal Government of Nigeria and German-based Siemens at the State House, Abuja.
The News Agency of Nigeria (NAN) reports that the agreement is the outcome of a meeting Buhari held with German Chancellor, Angela Merkel on August 31, 2018.
The Letter of Agreement was signed on behalf of the Federal Government by the Director-General of the Bureau of Public Enterprises (BPE), Alex Okoh, and the Global Chief Executive Officer of Siemens, Joe Kaeser.
@echoenergyplc
Jul 30
Next Time with the Team will be held on Tuesday 6th August from 12-2pm. To log-in/register: http://www.yourechoenergy.com Any issues please e-mail s.dees@echoenergyplc.com.