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Malcy's Blog
SAVP update the market today following yesterday’s hearing at the High Court of Justice who were considering the appointment of administrators to Seven Energy International Limited which is a key step of the transaction. The request was duly granted and as such final long-form documentation with respect to the Transaction completion will now be executed in accordance with agreed steps.

For patient Savannah shareholders it is gratifying to see this important step in the process to clear final hurdles in the transaction and final closure must be very close now.

With Steve Jenkins making a speech on Wednesday and the worlds Oil and Gas media in attendance, tomorrow or Wednesday would be great timing for an RNS

In a reply to my email to Jessica, Celicourt called late yesterday afternoon to give reassurance that everything was still on track for completion by the middle of November. I was assured the BOD are very aware of the timescales they are working to and obtaining High Court approval is built into the timetable.
At the end of the conversation I was reassured and was advised to keep a look out for the RNS we are all looking forward to receiving.
Cynics might argue that I was only told what I wanted to hear but I take the view that if there was bad news ahead Celicourt would have dodged my request for information rather than calling back at 4.15 on a Friday afternoon.

I have emailed but no reply yet. I will post if/when I get a reply.

Filtered

http://petrobarometer.thecable.ng/2019/10/30/exclusive-like-pid-like-accugas-nigeria-in-trouble-over-another-sloppy-gas-deal/

Petro Matad, a Mongolian-listed, Mongolian investment company, covers 10 340 kms covering the southern part of the Tamsag basin in the Matad-XX area, drilling the "Crane Crane" well into the crater of natural oil The above exchange rate has come. The company drilled two holes in Matad soum of Dornod aimag. In this regard, "Petro Matad" exploration geologist, Dr. D.Buyan-Arriving, said: "It is possible to predict the geological structure of petroleum targets and predict the oil that could contain oil reserves, and set up a drill hole based on economic calculations. The "White Crane" drill was drilled last July 19th. The drilling rig was started from a depth of about 2650 meters from the depth of the drilling rigs, and was sprayed with a washing fluid and appeared on the surface of the crushed rocks. It has grown dramatically from 2803 m depth to 2880 m depth. After completion of drilling, the geophysical measurements were performed on the wall of the drill hole and interpreted the three phases that were able to carry out the calculations and calculations of the oils. The 12-meter "dirty" and 10.2-meter "pure" thick sandstone at the depth of 2834-2846 meters was connected to the borehole, and oil and gas appeared on the surface with pressure. "

According to the company's initial calculations, wells can be more than 200 barrels per day. According to estimates from the drill hole, 25 million barrels of oil can be extracted from this deposit. However, this number may increase due to the fact that no water has been released from this well. They are expecting a number of jobs, including exploration, resource estimation, development plans, and transfer of land use.

Due to the harshness of our country, drilling and experimental work is short-lived. Due to the barriers in the company's work, the Chinese drilling company paid for the idle and lost time. If you worked on the plan, you could experiment with the "Gazelle" borehole. Interestingly, the oil in "Gazelle" was drilled 5 km east of the White Crane. There was a period of 3.2 meters thick, which could contain oils that could flow into the pit. If it is drilled to the top of the embankment, it is more likely to have a thicker ointment.

Petro Matad also conducts oil exploration activities at "Bogd-IV" and "Ongi-V" areas. Undoubtedly Mongolia needs raw materials for oil refineries that are ready to commission in early 2024.

Historically, in 1940, Mongolian geologist J..Dugersuren and Soviet geologist Yu.Syaebulovsky discovered the Zuunbayan deposit. Historically, foreign geologists, including the USSR, the USA, and the People's Republic of China, have discovered the deposits in Mongolia. Then we have been told that the Mongolian experts have defined the structure of the boreholes drilled at Matad-XX area. They are reporting their own risks, risks and economic calculations. With this discovery, Petro Matad has become the pioneer of Mongolian experts who have discovered deposits.

IMO Significantly reduces the risk of further dilution, the taxes/fees of £10m are due on 18th November, if the deal was likely to go beyond that date I think the total loan facility would be for more than £10m. The only significance of the 17th Jan date is the end of a three month facility.

Is that two 1.6m sales?

The Gazelle-1 well result is at best highly inconclusive, the Lower Tsagaantsav is dry and the upper reservoir had ‘good wet gas shows recorded’ as well as 3m of net oil in good quality sandstones defined on the logs. From here any success will now be defined by further testing probably after the Heron works which are ongoing. Finally the company has postponed plans to drill in Block V this year, interestingly you may remember that I noticed way back in the spring that MATD had dropped Block V from this year’s plans so I’m not quite sure what that is about. Until I get to speak to Mike Buck there isnt much more I can add.

http://watermark.numis.com/86994.pdf?data=MVEO3BIRfI7BhgkfxTGjenuk%2BwAypndd%2BGPcLnYNfd9MGD6NoGFAhv%2F4AWJ3apcHNVZSd****Cmyv8ixyX6pcKhfOCjP%2FPe59i62nFg0GMn8vR5Rbs%2F12Pd2UYIcfla51JGpXZxl%2BRhn7XOy3ApYMAYj4woCK3Es0Tt%2BsTkrD5AUYmVd%2BKo%2BwN38xTjTzE%2Fb6IOAvBMRtq6S3Y7oeqJt70lb2CusRr%2BCHODFYv80WV1oaV0KgiSf%2FF5dCQSn3wcLXUanDhOPzouRFSDUvHUHrijAu31pcbrSWBKsLafno46qDn2EIgAJkgJdSg%2Bxxh9eEOWak6wkA0XC%2Bts0Yj5gVSl8r7AoC%2BfiRQ5C%2BfuDvpVTvV6O8lZaRgzCz%2FqwCUCiUj0b61Z%2FqLq3I4zeM1Mfs8U4QHB%2FEXbgIUrthfuPfx58ZDk3GRlqhMGTt6TdoP%2BuO0qbtv5RKgl6%2Fxt8q5qoc4DNK5XXNNYybK5HNJH4VNWMzKJYhKUlZiOAMV5ChiCBfGsMqt3Z9MIj9y8CZCi80tG8jmgevxl%2B1NGKxy6Zrqf38eiDuLjVUdjoXX5YAl1mYK25D4uyd%2FsH%2FkG%2FRDFBVgFeuWofwRIYKuXmTT7fhTJImPsLZq3qJH%2FkBELqz2R2ERNAUGiUJJ04VxShsla7sNE3%2B%2F6EE5rSdE5ah3IixTJi8vAL8BBNeQWiXfFyRS%2F8&s3Url=https%3A%2F%2Fnumiscorp.s3.amazonaws.com%2F86994.pdf%3FX-Amz-Signature%3D06bac11f365ca1b97142fc8d62d26d5403764ff122eed06a95055a39c1ba0ab2%26X-Amz-Algorithm%3DAWS4-HMAC-SHA256%26X-Amz-Credential%3DAKIAJKQF2LTZNITTTFBQ%252F20191017%252Fus-east-1%252Fs3%252Faws4_request%26X-Amz-Date%3D20191017T000000Z%26X-Amz-Expires%3D86400%26X-Amz-SignedHeaders%3Dhost

https://www.financierworldwide.com/esg-importance-on-the-rise-as-oil-gas-makes-the-transition#.XagulG5Fw5u

In English
The 1500 km border between Niger and Nigeria is still closed by President Buhari's decision. The Maradi region, on the Nigerian side, is beginning to feel the negative effects of this closure on the local economy. Everything is idling. Traders and freight forwarders do not understand the decision of the Nigerian big brother.
Nearly two months after the border closes, Nigerian traders still do not understand the Nigerian big brother.

"We have so much in common! We can not understand that we are still asphyxiated after weeks or three weeks of a border closure. Anyway, we will not do them without them, but they too, they will not do without us ", regrets a trader Maradi.

The export of cattle, which is one of the main breasts of the regional economy, is in free fall.

"Before, customers came every time to buy, people from Nigeria who came with trucks. Now, in any case since the closure, you see that nothing works, "says Ousmane Ali, secretary general of livestock exporters.

For the representative of the Nigerian Council of Transport Users, smuggling has increased since the closure of borders. "The traffic is on motorcycles. And even their markets are more affected than our markets, because it is across borders that Malians, Chadians, Cameroonians, Sudanese, come to pay products in their markets, "explains Souleymane Aboubacar.

No respite for taxis-motorbikes: for them, all roads lead to Nigeria, through the fields of millet and sorghum.

1/2
On September 15, the State of Niger signed the Transport Convention for the construction and operation of the future pipeline linking the Agadem basin in Niger to the port of Sèmè in Benin. The agreement was signed with CNODC, the overseas development branch of the China National Petroleum Corporation. Two days later, President Mahamadou Issoufou laid the foundation stone for the project in Koulélé. And it's a big deal for Niger and for Africa.

Not only is CNPC's Niger-Benin export pipeline the largest cross-border investment the Chinese major has made in a pipeline, but the project is also essential for Niger to increase its crude oil production five-fold in the past. next few years, from 20,000 to 100,000 barrels per day (b / d). A video published by the Nigerian presidency estimated that production could even reach 200,000 b / d.

This agreement follows the signing of the agreement for the construction and operation of the Niger-Benin pipeline with CNPC last August and the approval of the Production Sharing Agreement in Zone 3 for the exclusive exploitation of Agadem in June 2018. The 1,893.9-km pipeline, 70 per cent of which will extend to Niger, will cost $ 4.5 billion (2.4 trillion CFA francs) and is expected to export its first Agadem crude oil to the United States. Atlantic coast in 2021. The project will create around 5,000 jobs and will include seven power plants, 1,557 km of high-voltage lines and a new airport at Koulélé.

"By giving Niger's oil access to export markets, the pipeline will unlock billions of dollars of investment in discoveries made in the country in recent years and transform the country into a hub. regional oil. It means jobs and local content for the people of Niger, "said NJ Ayuk, president of the African Chamber of Energy (https://EnergyChamber.org/) and CEO of Centurion Law Group. "It's going to be a transformational deal. We are pleased that Niger can greatly benefit from the increased contribution of the oil industry to its economy. Some failed and others did very well with respect to the history of oil in Africa. We must recognize the good sense of President Mahamadou Issoufou, who has tempered expectations and enthusiasm and encouraged everyone to make reasonable progress and put oil at the service of Niger, "said Ayuk.

In the Agadem Basin alone, CNPC has made more than 100 discoveries on 137 exploration wells in recent years, all of which are now very likely to be exploited. The construction of the pipeline was also accompanied by 430 wells and the construction of a treatment center in Koulélé and a dehydration station in Dibella.

2/2 Finally, the pipeline is also a great boon for other operators in Niger. Savannah Petroleum, for example, which mapped 146 exploration prospects on its own licenses and made five discoveries in recent years, will have the right to switch to the third-party infrastructure. "From a savannah perspective, this provides our company with significant additional market potential, alongside an existing Zinder refinery, for our discoveries on the future of Niger," said Andrew Knott, CEO of Savannah Petroleum in a statement .

The energy sector in Niger has been booming in recent years. Its oil sector has seen new discoveries, including those of Sonatrach in Kafra, while electric infrastructure is growing. According to an official document published in early 2019, Niger aims to make the contribution of oil to its GDP of 4% in 2017 to 24% in 2025, revenues from oil oil rising from 19% to 45% and export earnings from 16% to 68%.

With projected growth of 6.5 percent this year according to the IMF, Niger is among the 15 fastest growing economies in the world. For an included country with a GDP below $ 10 billion, a pipeline of this amplifier is not just about future economic growth, but an opportunity for profound transformation and transformation into 22 million citizens.

Me too

Zen- Very interesting research both here and re Carlyle over on ADVFN. Thanks for sharing it.

http://watermark.numis.com/86994.pdf?data=MVEO3BIRfI7BhgkfxTGjenuk%2BwAypndd%2BGPcLnYNfd9MGD6NoGFAhv%2F4AWJ3apcHNVZSd****Cmyv8ixyX6pcKhfOCjP%2FPe59i62nFg0GMn8vR5Rbs%2F12Pd2UYIcfla5cAgQ5o7Pvlr3L4uUV%2BtAuYx8jkqaLtJQGwNCTjhMhJvQUVqqVVJKHMXONSqp4tshOY5tnwRxdvZ4u8YTs8BfFZjMMw7XG0dBn0DhF6wYw%2FEyPU3m3AAYe%2BqMWiT9GP125PsDIoL2o0WVQPCECC7aBgzsA6VFM0i8tq0EM5hHVT%2F0F1w9MOT4f4qU6CENMzekUCj%2FXh2REo%2FWMIL72o4X8IwIcobfOJzMIMcgd5X9SQBjozJiMY0WmReafDts1akeInyao%2FoV0ZlrLP8DWZ9gteZzRiyXxXujY%2BwzlH4bI2VOqKPh2mQJ3Y6%2FvYHHaOeJMx6m7mav5GWfeyT%2BDMXfVb9IgQTOAo5jSIlFPSgYn3zYh%2B7VIScAVUuDwjq7J0jPWkoQfdOfPDT%2FD%2BIleOj3qM3CktW7rwMao5RipLs5haM083fR9tJymzFuAtnHmcez9Wi%2BY49tgVP93yzNDcSBGady1rwSq%2FaE4ZBwKzxdtgeVRtMbqyb2ZliV95xH04oJ%2BEH5jpXK1as2L1GXIv5ZeOZFVBzJh%2B1ZMstL3VLX%2BjQai7t5moNqb0DmNpZ6bcn2&s3Url=https%3A%2F%2Fnumiscorp.s3.amazonaws.com%2F86994.pdf%3FX-Amz-Signature%3D00af8ebeb2648562b8b4fcf80411babd0fc3493da0f90b5c9d301377dd375f51%26X-Amz-Algorithm%3DAWS4-HMAC-SHA256%26X-Amz-Credential%3DAKIAJKQF2LTZNITTTFBQ%252F20190917%252Fus-east-1%252Fs3%252Faws4_request%26X-Amz-Date%3D20190917T000000Z%26X-Amz-Expires%3D86400%26X-Amz-SignedHeaders%3Dhost

Zen- I see your logic but if production is ramped up to that degree could the pipeline capacity be a limiting factor until the CNPC Seme pipeline is completed in 2021/22?

Yes it is-
1) At the AGM AK stated that SAVP had sufficient funds to last until the end of Q3 and short term debt facilities agreed to cover working capital if completion stretched into Q4.
2) AK stated at the AGM that he expected completion to be approx 1 month from Ministerial Consent, perhaps on subsequent guidance Mirabaud/Hannan are stating within 2 months.
3) End of Q3 is 6 weeks from M.C.
4) Taxes on completion are payable 90 days from M.C.
5) Why consider a placing at this stage when completion includes 5 day VWAP share consideration .
Trek - I agree with your annoyance but to specify work areas would probably be price sensitive.