Member Info for komakino

The RNS on 5th March stated they were at 2.12%, but they probably still are dumping as even 2.12% is a fair chunk of shares to get through.

LST, holders don't have to declare holdings once they have fallen below 3% so we won't see any further TR1's from TT International I'm afraid, assuming it is them still selling.

Hxulcolrdoh, yes the ICA itself does not possess direct enforcement powers but there are other ways of enforcement as discussed in the post below.

Hxulcolrdoh, the Chad dispute will be settled by an international court of arbitration, not a local judge based in Chad. If there is an award to Savannah then the Chadian oil revenues could be paid by deductions from future oil revenue payments or seizure of Chadian government assets held abroad.

Ah, yes, they walk in different circles to us :-) Still, after RockyRider was predicting the chairman leaving before the AGM, it does indicate a view on where he believes the share is heading.

Lol, I wish I considered a £90k trade small Scotpak :-)

From the Annual Report: 'The risk associated with Nigerian-based gas customers is mitigated through the external credit support covering the offtake contracts at Accugas where we have a Partial Risk Guarantee in place via the World Bank to provide credit support for Accugas’s principal customer for up to US$111.8 million of invoices and for other customers, letters of credit are normally required'

Interesting find Rumpel. I think a lot of us would happy to pick something in Nigeria where, even though we might have some issues with receivables at the moment, we seem to have a good relationship with the govt.

Looks like you've precipitated a mini-revival Zen :-) Let's hope it lasts.

Thanks Scotpak, sounds very plausible and certainly hope you are correct in that surmise. The question for me is why AK just wasn't open about it. As Zengas alluded to, there's most likely more to the whole thing, including the raise & new investor, than he articulated. I guess it's sell up or wait to see what happens. The latter for me.

Well at least you had a fantastic average Mr. B! Good luck with your future investments.

Agree with you Scotpak, just a case of being patient again!

For interest, whilst we while away the months waiting for the sp recover I had a quick sheck of my spreadsheet where I record the closing sp on the last day of the month:

Dec 2019 21.5p

Mar 2020 7.54p as Covid fears shook the market

Nov 2020 8.8p as it started to recover from the 7's

Feb 19.25p

Jun 19.25p as we are suspended due to Exxon deal

Dec 2021 22.5p as we return to trading

May 2022 37.75p (hit low 40's earlier in the month) as proposed Chad deal pushes the stock higher

Dec 2022 26.5p sp drifts down as Chad deal is questioned and suspension for Petronas

I won't put the current sp as I'd rather not look!

LS, just looking at Zengas' notes from the meeting it included 'He says all the intstitutions bar one are still onboard' so it could be I took that as TT selling out completely. Maybe they haven't but suspect they are doing so.,

Longshort, yes I'm pretty sure AK said they were selling out but I'd need to rewatch the presentation to be absolutely sure. Can't remember his exact words specifically so it's possible I am mistaken.

Wolfiebill, I suspect it's TT International selling the remainider of their holding. AK said they were selling out but according to their TR1 RNS on 5th March they still had 34.3m to dispose of from their original holding of 116.5m. Unfortunately, as they have passed the 3% threshold we won't get any further notifications from them, so could continue for a while.

Yes, good points MP, and hopefully you are right on this.

Mr B., like a lot of us, if I took my wife out for a steak on my SAVE profits, I'd have to work in the kitchen for a few years first to pay my debt off. Knowing my luck, after paying off my debts and sitting down to my steak, it'd be burnt as f**k ;-)

I didn't think AK sounded that confident when mentioning Niger. Could be wrong but wouldn't surprise me if we were on the wrong end of another nationalisation there. At least we haven't spent too much money so far!

Well the guarantee is for up to $111.8m and I suspect that it's a matter of last resort so as AK said at the investor meeting the plan is to work with the customers, which was highlighted on slide 9 regarding cash collections acceleration. I imagine if Trump was CEO he'd just stop supplying gas till they paid up!

More explicitly, 'The risk associated with Nigerian-based gas customers is mitigated through the external credit support covering the offtake contracts at Accugas where we have a Partial Risk Guarantee in place via the World Bank to provide credit support for Accugas’s principal customer for up to US$111.8 million of invoices and for other customers, letters of credit are normally required'