Member Info for komakino

Should keep Agadem happy that one ;-)

ir@savannah-energy.com

Well I'm in the middle of repointing my garden wall so trying to get through a tub of lime mortar before 4:30. Quick break to make the wife's lunch :-) I'm sure there'll be some good chat later on after the webinar. Wonder if there is a possibility he'll also drop the C/C completion RNS after 4:30 as well. I'm a little surprised we haven't had one given AI reported the Exxon deal was completed on 1st July. Either way, will be interesting as AK's q&a's always are.

Court Grants Hearing For Lekoil Nigeria’s Contempt Suit Against Lekoil Limited And Savannah Energy Investments Limited

Regarding the motion for mandatory injunction filed by Lekoil Nigeria (to reverse the resolutions reached at the EGM of the Lekoil Cayman held on 7th April, 2022) and motions challenging jurisdiction of the Court (requesting that the suit be struck out) from each of the defendants – i.e. Lekoil Cayman and Savannah Energy.

After taking representations from all counsel, the Federal High Court in Lagos, Nigeria on Wednesday June 1, 2022, delivered a Bench ruling agreeing with the representations made on behalf of Lekoil Nigeria on hearing only the motion for mandatory injunction – i.e. the contempt suit, against Savannah Energy and Lekoil Cayman. The court was convinced by the arguments made by Lekoil Nigeria’s counsel that, irrespective of the fact that there were motions challenging its jurisdiction, the Plaintiffs' motion for mandatory injunction and other orders should be accorded priority. The court adjourned the hearing of the application by the plaintiff, Lekoil Nigeria, to June 20, 2022.

https://www.einnews.com/pr_news/574990538/court-grants-hearing-for-lekoil-nigeria-s-contempt-suit-against-lekoil-limited-and-savannah-energy-investments-limited

Thanks Zengas, all looks promising for a nice announcement then next week. In the latest Vox podcast earlier this week he did say 'at some point over the next quarter we will expect to be able to announce news on the refinancing of our debt package', so not expecting anything new on that next week.

Yet again Savannah has moved ahead, this time with a ground-breaking agreement with the Government of Chad for the development of up to 500 megawatts of renewable energy projects supplying electricity to the Doba Oil Project and the towns of Moundou and Doba in Southern Chad, and the capital city, N’Djamena.

The comments by CEO Andrew Know also indicate that with one project already announced and now these two agreed there will be more to come. With a number of exciting projects across Africa in various stages of completion the appetite for renewable energy seems to be substantial and with SAVE on the lookout for more deals I remain extremely confident of further profitable agreements.

https://www.malcysblog.com/2022/05/oil-price-dec-ujo-egdon-rockhopper-arrow-echo-uog-and-finally/

I was just going off last year's results which were end of May but given there has been no notice it probably will be June as you all say. Was getting excited for next week but will put it back in the box for a bit!

*** v o x m a r k e t s

Good to see you're alive and well Agadem! We should be getting end of year results on Tuesday, though it's a bit odd that we haven't had a 'notice of results' RNS, so hoping there's no delay. Other than that, June was the expected date for the deal completion so hopefully they will manage to complete then. Once that is done I think we could get an RNS on another O&G acquisition shortly afterwards.

As AK said in his last interview 'There's a lot of news the will come out; Chad/Cameroon acquisition, the refinancing of our debt, the Niger development, more renewable deals, more hydrocarbon deals, probably more contracts in Nigeria as well' from 7:34 AK on Vox Markets 22/04/22

hTtps://www.**********.co.uk/articles/savannah-energy-discusses-the-extension-of-their-gas-sales-agreement-7f7b732

Yes, that's my recollection too PF, so waiting for the completion of CC before any announcement would fit in with that. Completion of CC followed by another value for money acquisition could see the sp really gaining traction as the wider investment community starts to take notice.

Yes, that's my thinking too TIL. If everything goes well, I think Agadem's 89p target price for 2021 has a good chance of coming to fruition in the next 6 months.

Namecheck in the Mail column as well. Although no detail, nice to see Savannah getting into the mainstream papers.

'Savannah Energy was up 5.8 per cent, or 2.1p, to 38.1p after it struck a deal with Chad to develop up to 500 megawatts of solar and wind energy projects to supply electricity to the capital, N'Djamena, and other locations. A solar farm at Kome, in the south, would be the largest between the Sahara desert and South Africa. '

https://www.thisismoney.co.uk/money/markets/article-10861845/MARKET-REPORT-Deliveroo-Just-Eat-shares-notable-fallers.html

Not like you to be quiet on an RNS day. Hope all is well and you're enjoying your profits.

Yes, would have expected something by now. Last year notice was on 20th May with the results on the 27th. If they are publishing on the 31st then a weeks notice is tomorrow, so maybe it will come in the morning. Should be an interesting read when they do come.

Apologies, ignore previous post, meant for a different board.

Full article is available at https://www.thecable.ng/corporate-takeovers-contextualising-the-savannah-move-on-lekoil

POSTSCRIPT

Some analysts believe that the impasse between Lekoil Nigeria and Lekoil Cayman has become more complicated only due to the involvement of third-party adventurers. The acquisition of shares on the cheap and the subsequent surreptitious attempt by Metallon to take over Lekoil Nigeria assets, set in motion the twists and turns in the tale that has been over the past several months.

One must ask this question; did Metallon read the Lekoil shareholder agreement before it set about its takeover manoeuvrings? Was Savannah Energy made aware of that agreement and did it pay adequate attention to it before getting entangled in this messy affair with Lekoil Cayman?

The Lekoil shareholder agreement was apparently overlooked by Metallon and so has Savannah Energy in this apparent takeover bid. That agreement effectively prevents any entity from taking possession of Lekoil Nigeria assets, without due process. And it does seem that the assets are the ultimate target of those seeking a backdoor control of Lekoil.

So, why is Savannah Energy boldly proceeding on this course? Is there something that Savannah Energy knows that nobody else does?

Full article is available at https://www.thecable.ng/corporate-takeovers-contextualising-the-savannah-move-on-lekoil

POSTSCRIPT

Some analysts believe that the impasse between Lekoil Nigeria and Lekoil Cayman has become more complicated only due to the involvement of third-party adventurers. The acquisition of shares on the cheap and the subsequent surreptitious attempt by Metallon to take over Lekoil Nigeria assets, set in motion the twists and turns in the tale that has been over the past several months.

One must ask this question; did Metallon read the Lekoil shareholder agreement before it set about its takeover manoeuvrings? Was Savannah Energy made aware of that agreement and did it pay adequate attention to it before getting entangled in this messy affair with Lekoil Cayman?

The Lekoil shareholder agreement was apparently overlooked by Metallon and so has Savannah Energy in this apparent takeover bid. That agreement effectively prevents any entity from taking possession of Lekoil Nigeria assets, without due process. And it does seem that the assets are the ultimate target of those seeking a backdoor control of Lekoil.

So, why is Savannah Energy boldly proceeding on this course? Is there something that Savannah Energy knows that nobody else does?

Full article is available at https://www.thecable.ng/corporate-takeovers-contextualising-the-savannah-move-on-lekoil

POSTSCRIPT

Some analysts believe that the impasse between Lekoil Nigeria and Lekoil Cayman has become more complicated only due to the involvement of third-party adventurers. The acquisition of shares on the cheap and the subsequent surreptitious attempt by Metallon to take over Lekoil Nigeria assets, set in motion the twists and turns in the tale that has been over the past several months.

One must ask this question; did Metallon read the Lekoil shareholder agreement before it set about its takeover manoeuvrings? Was Savannah Energy made aware of that agreement and did it pay adequate attention to it before getting entangled in this messy affair with Lekoil Cayman?

The Lekoil shareholder agreement was apparently overlooked by Metallon and so has Savannah Energy in this apparent takeover bid. That agreement effectively prevents any entity from taking possession of Lekoil Nigeria assets, without due process. And it does seem that the assets are the ultimate target of those seeking a backdoor control of Lekoil.

So, why is Savannah Energy boldly proceeding on this course? Is there something that Savannah Energy knows that nobody else does?

Well 20th May last year we got the notification of annual results (published 28th May) so hopefully we will see a number of your questions answered CYB at then end of next week. It feels like it's been a quiet period but we have had the GSA signed with Central Horizon Gas Company, the association with Lekoil, Niger's first wind farm and the extension of the GSA with FIPL, so not too shabby, even though most of us are waiting for the signing off of the Petronas/Exxon deals (with the knowledge of what the final price is) along with the debt renegotiation and then another acquisition. Think once we get news on any of those we'll see the board spring back to life. At least during the 6 month suspension there was a lot of social media posts to occupy us, but it's pretty dead at the moment. Mount Teide posts some interesting stuff over on ADVFN which is always worth a read in the meanwhile.

Actually, scrub that. Going on to the dealing page displays this message

'British Honey Company Plc ORD GBP0.10 cannot currently be traded online. For further information about trading this security, or to obtain a current price, please telephone our dealers on 0117 980 9800 during market hours. Please note that if the buying and selling price quoted on this page are the same it may not be an accurate price.'

so looks like it'd telephone dealing. Either way it does appear to be tradeable.