Member Info for komakino

Received an email message back saying I hadn't registered but I completed the form before the Thursday cutoff and received a message on completion. Useless!

No, emailed but no response. Phone goes to voicemail. Grrrr.

Savannah is holding their 2023 AGM Webinar at 11:00 a.m. on Friday 30 June, If you are a shareholder and you wish to register to attend in person, attend via webinar or would like to submit a question, please complete the form below. The closing date for registration and questions is on Thursday, 29 June at 11:00 a.m. Personalised links for the webinar will be delivered by email on Friday, 30 June shortly before the scheduled start time

Yes, presume so LST.

CYB, don't forget about the exchange rate true up.

'These losses are in part recoverable through a foreign exchange “true-up” clause in the Calabar NIPP gas sales agreement (“GSA”) whereby realised foreign exchange losses on this contract can subsequently be invoiced back to Calabar and recovered and recognised as a reduction in foreign exchange losses. '

I'm using Firefox on my laptop and running AdBlock Plus. If you right click on the page where the video is, click on Adblock, then 'Hide something on this page' , then click on the video it stops the video from playing. You get a greyed out portion of the screen where the video is situated, but the video doesn't run and the pop-up doesn't appear when you scroll down.

Haven't managed to figure out how to do the same thing on the iphone/ipad though.

Yes, I suspect we were probably scheduled for that session too cyb. Not sure how much political influence Chad has over SS, but it certainly seems have to have some influence over Cameroon. Guess there's not much we can do till end of July other than go for a swim or watch the cricket. The latter for me :-)

Looks like it wasn't us after all :-)

South Sudanese oilfield services company Nile Drilling & Services and petroleum drilling manufacturer Tianjin DFXK Petroleum, signed a Memorandum of Understanding (MoU) for the acquisition of two additional drilling rigs for the development of South Sudan’s oilfields at the sixth edition of the South Sudan Oil & Power (SSOP) 2023 conference and exhibition.

https://energycapitalpower.com/nile-drilling-and-tianjin-dfxk-petroleum-sign-mou-at-south-sudan-energy-summit/

In a press release, the Board of Directors of the National Hydrocarbons Company (SNH) of Cameroon decided to freeze the transaction concluded on April 19, 2023 between SNH and the Savannah Energy Company.

The Board of Directors of the National Hydrocarbons Company (SNH), met for its first session of the year, on June 13, 2023, under the chairmanship of Ferdinand Ngoh Ngoh, Minister of State, Secretary General of the Presidency of the Republic. During this session, the activities carried out by SNH between January and April were presented to the Board by the Managing Director, Mr. Adolphe Moudiki.

This session shows the presentation of two Production Sharing Contracts, signed on March 31, between the Republic of Cameroon, SNH and Addax Petroleum Cameroon Company and Perenco Rio del Rey. This session materializes the alignment with the Petroleum Code, Establishment Agreements and Association Contracts covering the Rio del Rey and Mokoko Abana producing areas.

“National crude oil production stood at 8.01 million barrels as of April 30, down 2.23% from the same period a year earlier. Natural gas production was 916.01 million m3, up 4.53%. Sales of oil and gas made by SNH for the State made it possible to transfer to the Public Treasury, after deduction of charges, 269.221 billion CFA francs. This amount is up by 31.19% compared to the same period of the previous year. In addition, SNH paid the State 16.259 billion CFA francs in taxes and duties”.

This led SNH's Board of Directors to welcome these good results and approve SNH's accounts for the 2022 financial year. However, “the Board finally decided to freeze the transaction concluded on April 19, 2023 between SNH and the Savannah Energy Company”, concludes the press release.

The transaction between SNH and Savannah Energy has raised tension between Cameroon and Chad, which has not recognized the sale of Esso's assets in the oil consortium to Savannah Energy.

https://tchadinfos-com.translate.goog/cameroun-le-conseil-dadministration-de-la-societe-nationale-des-hydrocarbures-gele-sa-transaction-avec-savannah-energy/?_x_tr_sl=fr&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=wapp

Https://www.reuters.com/article/britain-stocks-factors/uk-stocks-factors-to-watch-on-june-14-idINL4N386125

Cyb, assuming this is true then I think that's a reasonable assumption. Though, that would most likely result in another trip to Paris and the arbitration court. What is happening to the monies from the oil liftings etc is anyone's guess and would be nice to know what the position is, but doubt we'll get anything from SAVE with regrd to that until we see the half year results. Bit of a mess all told. Hopefully we get good news on the SS acquisition else we'll probably all be hiding behind the sofa when we relist!

Yes, if the addional deal he mentions becomes part of the July admission doc., then I think we would all take that. God knows how long that would take to read though!

Will be interesting to see if they are part of the deal signing on Thursday, which we have hitherto presumed would be the case. Getting the ministerial consent on Thursday would be great. I thinkanother hydrocarbon deal is a possibility but would have thought they would have issued an SPA by now if that was the case. At least we have The Ashes to keep us (well, me at least) occupied over the summer whilst we wait!

Last 2 years the Annual Results have been on the 7th June, so wouldn't be surprised to get them this week along with a Chad update, leaving the focus for next week on the AD.

I think the Chad situation was different where it's likely they realised they wouldn't get Chad approval explicitly but decided they could make it work though the regulation of tacit approval by Chad not giving written notice of disapproval. Think they took a gamble knowing the fall back position of worst case (which it appears we are experiencing) is compensation via the arbitration. SS; I asume they are confident of approval (everything points to that - conference agenda, gold sponsor etc) but realise the market needs reassurance, so are waiting for sign off before we get into relisting.

Wouldn't surprise me to have another Nigeria acquisition in the offing. They obvipously have a good reputation in Nigeria so would think the govt. would be keen to see them involved in other projects. Can't be too long before some sort of news flow, given Full Year results imminent (usually 7th/8th June) plus the SS conference. Meanwhile, as The Distractions sang 'Time goes by so slow' :-)

Thanks Sajy

Hi Sajy, what was the source of the info. as I haven't seen anything definite in any published articles?

Yes, I guess that's a possibility though it's a long way away from the public statements of the govt. Would be good if there was an agreement in place, especially if that is notified before we relist.

Unless they were doing that so that in the arbitration they could not be found to have abrogated themselves of their responsibilities as an employer and so found to have been in default of the contarct?