Member Info for komakino

Though you are suggesting that the information posted by SAVE on their website is unreliable? To be honest, not sure anyone is that bothered about the numbers anyway, it's just indicative, and we can all make of it what we will according to individual preferences.

Lol, I'm not sure why you are hunting hubris in that case :-)

Not sure how you can disagree when all I have said is that they only crossed the threshold once in the reportings from RNS/Save website. Are you suggesting that statement is incorrect?

If you disagree with the reporting of holdings that have not been subject to a TR-1 then suggest you discuss with SAVE Investor Relations. Here's the address ir@savannah-energy.com

*27th June update was the only time in this period they crossed a threshold according to the RNS/Save website notification(not 19th July)

Aberdeen have not crossed a threshold since the last update.

Aberdeen's last updates (either via RNS or the SAVE major-shareholders website have been which I have noted) are :

Date ************ Holding ********** % *********** Change since last update

14th June ****** 151,965,133 ****** 11.64% ****** -1,590,251
27th June ******* 142,986,388 ****** 10.95% ****** -8,978,745
8th Sept ******** 143,297,156 ****** 10.97% ****** +310,768
12th Oct ******** 141,700,647 ****** 10.85% ****** -1,596,509

19th July update was the only time in this period they crossed a threshold according to the RNS/Save website notificationd

SAVE'S website

https://www.savannah-energy.com/investors/major-shareholders/

They just show the latest position but I keep a record of previous notifications to work out the changes.

Not much going on here either!

Standard Life Aberdeen plc -1,596,509
Ingalls & Snyder +50,000
Miton Asset Management Limited -1,005,000
JO Hambro Capital Management +2,809,829

Total Change +258,320

Yes, it's going to be interesting for sure cyb. On the negative side we know there was serious disruption at the Miandoum site due to the fire : http://www.lepaystchad.com/19552/ plus outages due to strikes : https://www.energyvoice.com/oilandgas/africa/ep-africa/333829/chad-exxonmobil-workers-strike/ so they would presumably have had some impact.

On the plus side we know that at the end of the first half of 2022, the operation of the Chad/Cameroon pipeline generated, on the Cameroonian side, a transit right of 18.66 billion FCFA. This amount is up (+9.12%) compared to the same period last year https://ecomatin.net/pipeline-tchad-cameroun-les-droits-de-transit-generent-pres-de-19-milliards-9-en-six-mois-au-cameroun/

So, I'm hopeful that it could be somewhere in your 172.8m ballpark as that would be a great result for sure.

Of more immediate concern though for everyone on the board, is whether they are part of the nearly everyone group or not ;-)

Completion of acquisitions before year-end. Savannah is still working towards completing its
proposed acquisitions of ExxonMobil's and Petronas' assets in Chad and Cameroon. The company
had been guiding to the deal closing in September but now expects it by year-end. The timing of
the completion should not materially impact the economics of the deal as the transaction has an
effective date adjustment mechanism built in. Ahead of the expected completion, Savannah has
also undertaken significant preparation work on operational team recruitment and organisational
systems enhancements to ensure a smooth transition of operatorship.

Interim results
Savannah’s interims confirm continued strong operational performance in Nigeria with 10%
growth in Total Revenues and Adjusted EBITDA alongside lower net debt. Production has
increased sharply in H2 and management is reiterating its FY22 guidance. Savannah is still working
towards the completion of the Chad/Cameroon acquisitions, which is now expected by year-end.
While the slippage in timing is frustrating, closure of the transactions will be transformational,
more than doubling FCF and providing the flexibility to rapidly deleverage while investing for
growth and delivering shareholder distributions. Management also expects to announce further
hydrocarbon acquisitions and to expand its Renewable Energy Division with several new largescale greenfield opportunities currently under review and negotiation. - Interim results. Savannah reported robust interims with Total Revenues and Adjusted EBITDA up
10% year-on-year at US$129m and US$100m, respectively. Unscheduled customer downtime in
the first half saw reported revenue decline 14% to US$85.8m – the difference reflects the fact
that Total Revenues includes the volume of gas that customers are committed to pay for under
the take-or-pay terms of the gas sales agreements, which includes gas that has yet to be
delivered. This, alongside a 10% increase in operating and admin expenses to US$24.5m – the
result of investment in business infrastructure in preparation for completion of the
Chad/Cameroon acquisitions – saw operating profit falling from US$54.0m to US$27.9m. Finance
costs fell 5% to US$36.8m, resulting in a loss before tax of US$11.3m. After a US$9.2m tax charge,
US$6.4m of which is deferred, an after-tax loss of US$20.5m was reported, up from US$1.4m in
the prior year period. Net debt continues to decline, falling from US$370m at the end of
December to US$327m at mid-year, representing a ND/Adjusted EBITDA ratio of 3.3x. Savannah
has reiterated its FY22 guidance, including Total Revenues of more than US$215m, operating
and admin expenses up to US$75m and capex of up to US$85m.
- New gas contracts drive strong H2 production. H1 gross production in Nigeria was flat y/y at 22.5
kboepd but has increased sharply in H2 as three new gas contracts announced earlier this year kick
in. H2 production to date is up 55% to 34.8 kboepd, with Accugas now supplying 24% of Nigeria’s
thermal power generation capacity, up from 10% at the time of the Seven Energy acquisition.

Yes, he said 'we've been very active about looking at hydrocarbon acquisition opportunities, so I'd be hopeful that we'll be able to announce other transactions over the course of the coming month'

From what he's said previously about not wanting to get into another RTO situation, it could be read from that, that he's hopeful that CC will complete this month and he can then immediately announce the next acquisition.

Let's hope his hopefulness is borne out this time.

Good progress from Accugas this morning and he's still sounding confident about CC and other deals so I guess I will take that, even though a bit more explanation regarding the nature of the hold ups would be welcome!

HH, the issue went to the courts as there was dispute about how the monies should be paid. It appears that the payments were only made in the last few weeks.

http://www.lepaystchad.com/21772/
http://www.lepaystchad.com/23108/
http://www.lepaystchad.com/23260/
http://www.lepaystchad.com/23295/

This final link suggests that the monies have now been paid as the workers occupied the offices of the bailiff who was accused of siphoning off more than his agreed expenses

https://ialtchad.com/index.php/journal/item/2023-les-ex-travailleurs-de-tcc-prennent-en-otage-leur-huissier

Also, from the annual report:

Chad
ExxonMobil’s net acreage totaled 46 thousand onshore acres at year-end 2021. In 2021, ExxonMobil entered into an agreement to divest its assets in Chad. The transaction is expected to close in 2022.

Thanks HH.

Also in response to the question they said 'So we're optimistic, but as we've always said, we're selling for value here. The basis for which we will divest is if somebody is going to pay more for that asset and that resource, then we think it's worth to us. So we're optimistic, it's built into our plan, the $8 billion additional to close that and that's where we
see it right now. I would also tell you that we have several other assets, of course, that we are in confidential negotiations and we have not made public right now.
Darren W. Woods
And I would just add to Neil's comments that again, it goes back to this approach. We focused on this as
a strategic priority to high grade the portfolio, and then take opportunities in the marketplace as they
came it was a value-driven basis that work that we did continued even in the pandemic and in the down
cycle when there wasn't a whole lot of market interest. But the work that we were doing laid the
foundation with the expectation that at some stages there would be a recovery, having that done, that
work done, would be advantageous in an up market. And that's certainly what we're finding today.
But I think, again, comes back act to looking across these cycles, constancy of purpose focused on high grading the portfolio, and then taking advantage of the opportunities when they present themselves
and not rushing to meet some artificial metric around moving assets, but instead staying very focused
on the value proposition.'

Ha ha, thanks Tier. I've obviously got too much time on my hands ;-)

If the deal is complete then I suspect they'd RNS that separately and immediately, so personally not expecting that on Friday, though would be great if it was. I think we'll get the interim results obviously plus an update on both Niger and the CC transaction. Hopefully we'll get a presentation with a Q&A; I think that's the least we deserve if there is nothing concrete on Niger or CC.

It appears that way :-)

Yesterday. It's all academic for the deal as this is just about the bailiff taking larger fees from the pot that ESSO paid than the workers expected. It does provide further evidence that at least one of the sticking points appears to have been resolved.

Well at least it does confirm Esso paid the money some 3 weeks ago.

The former TCC workers took hostage this morning Me Hisseine N'garo their chief bailiff in his office located in the Gardolé district. They demand that he pay their duties as soon as possible. And also ask for clarification on the amount that their bailiff intends to deduct in addition to the 10% of his fees.

The ex-workers, their widows and the beneficiaries invaded this morning the office of Me Hisseine N'garo. They denounce the slowness in the payment of their social rights and demand payment as soon as possible. A large of more than 10,000,000,000 has been paid for more than 3 weeks already on the account of Me Hisseine N'garo. But the triggering of the pay is delayed. What ex-workers find abnormal. They ask for explanations. In addition to this delay, there are also the costs that Me Hisseine N'garo plans to extract from their amount to be collected by person in addition to his 10% which is due to him by right. For M'baito Pierre, it is for more than 3 weeks that Esso has unlocked the money to send to the account of Me Hisseine N'garo. But the latter only rolls them in flour compared to payroll. "Everyone agreed that he should take 300,000f per person. This is equivalent to 10% of his work fees. Instead, he still took 125,000f per person. It is totally unknown why he intends to take all this and his arguments do not stand up," he said. He also says the former TCC agents worked to allow others to drive in cars. They took the money from our sweat that is not enough for them and now want to cut our veins to suck our blood, he added. M'baïto Pierre accuses the Minister of Justice of being in complicity with Me Hisseine N'garo.

The ex-workers say they are determined to receive their money today, otherwise they do not move from the office of Me Hisseine N'garo. Their coordinator Djédouboum Apollinaire is in talks with Me Hisseine N'garo. The base is waiting impatiently.

https://ialtchad.com/index.php/journal/item/2023-les-ex-travailleurs-de-tcc-prennent-en-otage-leur-huissier

I think what Bonga means is that he topped up earlier today, and now he has seen the UT trade, he's pleased he did so.