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The usual rules about FY results apply, nothing new in the numbers but last year was a real cracker for Arrow as seen in this detailed release. Looking at the post period end achievements Arrow has continued to make strong progress, production is increasing and the rig is being mobilised to the CN B pad in order to start drilling the companyās first horizontal well.
This is one of the 16 fully funded wells in the programme for this year and the wells include the potentially exciting horizontals as well as Baquiano and Mateguafa Attic prospects. I am writing a background piece having visited Bogota recently which shows just what an excellent set up Arrow has in Colombia. Finally on technical market terms it was good to see the Canacol stake placed last week and into friendly hands.
https://www.malcysblog.com/2024/04/oil-price-arrow-jadestone-beacon-sdx-i3-petrofac-and-finally/
1P1 - if you go onto SAVE share chat and go back to page 7 for 21 Jan ā24. The job post advert was initiated by Porschfund at 18.11 hrs. If you read the follow up posts you get the gist. SAVE didnāt put out and RNS at the time but they did put a warning on the front page of their website which has since been removed.
Has anyone considered that all those jobs advertised were AI generated. I mention this because exactly the same scenario happened with SAVE earlier this year and it resulted in the company putting out a bulletin on their website to deny the job vacancies. Has anyone contacted the company to confirm these jobs are legit ?
Https://polaris.brighterir.com/public/savannah_energy_plc/news/rns/story/xq8nklx/export
I have been talking a bit about the fact that the 21.2% stake in Arrow held by Canacol was up for sale and I am glad to see that the cross has just printed at 18.5p. Talking around I think that Canacol sold to an institutional investor and associates.
Arrow is showing a change in trajectory now that this stake from former founders Canacol Energy is now held I understand by a new group of investors lead by industry veteran and independent energy investor Gavin Wilson.
Arrow, a notable performer, had surged since its introduction to Londonās Aim market in October 2021, experiencing a remarkable 60% increase this year alone. Canacol Energy then revealed its intention to sell assets due to balance sheet pressures, initiating the stakeās availability last month impacting the Arrow price.
This change of investors is likely a source of satisfaction for Arrow, as the stake had been casting a shadow on the market, causing shares to dip from recent highs. With the stake having been hanging over the market, this clearance today, and to a highly respected investor is clearly good news.
Chief Investment Officer Gavin Wilsonās extensive experience, coupled with his involvement in other major invested companies such as Afentra, TAG Oil, and PetroTal Corp., further solidifies the credibility of this move. He has built up a reputation for supporting smaller exploration companies and offering expertise in the sector, often taking a board seat, that results in turn-around results for world class energy investments that have latent potential. The placement signals confidence in Arrowās potential.
Arrow has been a favoured stock of mine for a while and has been on the Bucket List almost since it came to the London market in 2021. Having fallen from the recent peak and with stability back in the market place I suspect that the shares are now looking very attractive.
https://www.malcysblog.com/
Forgive me if Iām wrong but SAVE was suspended from trading 1/2 hr after it announced to the market the proposed takeover of Petronas South Sudan portfolio. In theory the takeover was never priced into the SP so logic would suggest if the SS deal fails then the SP should remain firm and not
tank as some have suggested. However as we all know the market doesnāt always behave in a logical manner.
And the award for the most boring poster on LSE goes to ā¦ā¦
Accugas Awards Scholarships to 50 University Students from Akwa Ibom.
https://metrowatchonline.com/accugas-awards-scholarships-to-50-university-students-from-akwa-ibom-metrowatch/?amp=1
Interesting article.
https://www.globalwitness.org/en/campaigns/holding-corporates-account/fuel-fire-eu-banks-and-investors-tied-violence-south-sudan/
A brief video re SAVEās scholarship sponsor scheme.
Good PR for accugas.
https://m.youtube.com/watch?v=FhcZci6bcl4
The military leaders who took power in Niger this year have commissioned a giant pipeline that will carry crude oil to neighbouring Benin, public television said Wednesday.
The nearly 2,000-kilometre-long oil pipeline will allow Niger -- one of the world's poorest countries -- to sell its crude on the international market for the first time, via the Benin port of Seme.
A commissioning ceremony was held at the Agadem oil site, more than 1,700 kilometres (around 1,500 miles) from the capital Niamey, in the desert region of Diffa.
Prime Minister Ali Mahaman Lamine Zeine said the resources from exploitation would be used to "ensure the sovereignty and development of our country".
The border between Niger and Benin is closed following heavy sanctions imposed by the Economic Community of West African States (ECOWAS) after the July 26 military takeover.
Energy ministers from Mali and Burkina Faso -- who have showed support to Niger's new leaders and have both undergone military coups in the past two years -- were present at the ceremony.
The pipeline project was supposed to be completed in 2022 but was delayed by the Covid-19 pandemic, the project owner told AFP.
The oil is extracted by the China National Petroleum Corporation (CNPC).
Some $6 billion has been invested in the project, according to Niger's government, including $4 billion to develop the oil fields and $2.3 billion for the construction of the pipeline.
It says this investment has allowed the country to increase oil production to 110,000 barrels per day, with an official target to increase to 200,000 barrels per day by 2026.
Niger, where the military seized power on July 26 by overthrowing elected president Mohamed Bazoum, had seen mass protests calling for troops of former colonial ruler France to leave.
As well as the ECOWAS sanctions, many Western countries have cut off development aid to Niger.
The World Bank has warned that GDP growth is set to fall to 2.3 percent this year if international sanctions continue.
https://www.barrons.com/amp/news/niger-commissions-oil-pipeline-to-benin-be4376ef
https://www.africaintelligence.com/west-africa/2023/11/01/niger-junta-to-inaugurate-unfinished-cnpc-oil-pipeline,110083558-art
āIt would be illogical to think that for 10 months Petronas and Savannah have been completing those milestones on pure word of mouth basis and the South Sudan government have just being a spectator for the last 10 months only to hinge on a yes or no for themā¦ā¦.In summary the point I am making is are Petronas and Savannah foolish to do all this work for 10 months without any tangible progress and continue to do soā¦.ā
But isnāt that exactly what happened with Chad ?
I hope SS will be different but until we hear from SAVE or there is a leak we can only second guess because we (investors) are always kept in the dark due to the processes involved.
Can we be certain that this latest company is related to SAVE. The two names listed for this company, one is listed as a care worker and the other is a business owner.
My understanding is that 40 bank Street is a sky scraper with numerous companies based there.
Could this just be merely a coincidence ? Obviously I hope not but I just wanted to put my thoughts out there.
https://find-and-update.company-information.service.gov.uk/company/15228140/officers