Member Info for scotpak

Ive just added another £10k at 8.65p. Given all the near term positive triggers, the involvement of new strategic investors and the ability to raise a $200m acquisition facility , all seem to be good signs.

Market will await to see material acqn news or evidence of aggressive debt paydown for this to shift upwards and Im happy to wait a bit more.

Please correct me if Im wrong, but I though I read here that one of TT's funds closed down a while ago during savannah's suspension period. As Savannah shares are now listed, TT has to automatically dispose of remaining holdings. Its driven by admin and compliance rather than by a fund manager making an investment decision.

Good colour Komakino.

I'm upset like everyone else, but pointless to make every 2nd post on this board about having a moan about the share placing and how we have been shafted. What's done is done. If you want AK out, vote him out at the AGM in June. Instead as is the norm on this very good board, lets focus on key newsflow and fundamentals.

Does this mean if TT hadnt set up to sell their huge holding on relisting day, that the implied secondary price would have been alot higher, and that the placement may have been done at a much higher price? Are we being a bit unfair to mgmt, when the real culprit was TT? Dont get me wrong. Im definitely a disgruntled holder but want to make sense of this.

Im seeing a live price of 12.4p (+24%). The shares also seemed to have been halted a bit: "automatic suspension: breach of tolerance level".

my first trade was at 7p a few yrs back during covid. obviously im very upset like everyone else as nursing losses today. however lets focus on some positives:

(1) dilution wasnt enough to destroy the share price and doesnt mean previous price targets have been destryed (yes maybe adjusted downwards)

(2) if nigerian business continual as normal, and working capital cycle normalises, business will kick off decent free cf and share price should continue to rise as debt is paid down

(3) we are not suspended anymore and are unlikely to in the short term

(4) today was a brutal day in markets and loads of oil companies were absolutely smashed, so perhaps not the best day to assess trends

(5) the amount of positive triggers that lie ahead are plentiful whether that be completion of stubb creek, niger biz, accugas debt refi, chad arb, potential small south sudan deal etc etc.

i know many are ****ed, and want to vent, and i also understand i didnt invest at 40-50p etc near companies formation, however perhaps good times lie ahead.

if biz starts to pay cash down and some of those triggers get hit, 27p, 40p, 60p etc could all be on the cards.

What secondary trade set the price for the primary? Anyone understand what this means? Does it mean they looked at the price of all the trades that were submitted prior to market open, and this implied a price of 7p? Was there an aggressively huge amount of sellers who had posted their orders in advance of market open? I mean thats understandable given the 2yr suspension, but just want to understand the mechanism.

Questions seem to be very cherry picked. hope he proves me wrong

It all seems fine. Got into the zoom presentation straight away. Still awaiting Q&A.

What will these guys say in the meeting to defend the 7p? Are their any legitimate answers? Did they work that price out using trades that had been lined up in advance pre-open?

Bought £13k at around 10.1p

There is a new company presentation on Deltic energy's website. No big surprises or nasties in there. I did post a link earlier but perhaps my post got deleted.

Key quotes from public presentation:

> Deltic market cap of c. GBP£5M versus Selene Gas Project NPV10 of >GBP£45M net to Deltic

> Selene could deliver post-tax Free Cash Flow of GBP£135M net to Deltic during first 5 years of production

> Aligned, high quality JV partnership targeting Selene FID in early 2027 and first gas in early 2029

This should be fantastic news if savannah are one of the producers. Just need a bit of good luck here for once. Fingers crossed.

Im a long term holder. Bought at 14p (average price) and sold around 54p. Unfortunately i wish that was the end of the story. Went back in around 50p (with lower amount) and have been under water ever since. I decided to sell out today and move on. My reasoning? Just feel refinancing the $1.4bn 2026 bond together with the unsecured glencore facility (will be utilised to take out 2025 bonds) is going to be tough. Yes, tax arbitration was positive and the incoming govt are oil company friendly. However, increase in rate in production decline has come at a very bad time, as has the lowering of the reserve estimates. Despite still decent free CF and ok balance, there is the risk that the unsecured facility (Glencore) gets equitised (they receive new shares for writing their debt to zero). This will reduce debt load and allow secured bond to be refinanced. But will obviously not be positive for equity holders. Anyway good luck to those sticking in and I hope this share bounces back. Ive just run out of patience.

Any idea what going on given big move up in share price??

Thanks Zengas.

The $145m due. This relates to the hedging clauses contained in this gas contracts right? Didnt we discuss these a few months back. Would have assumed those should have already have been received and would have reflected in 31 Dec 24 debt figures?

Given that the USD/NGN rate hasn't really changed over the last 6 months, this increase in nebt debt does seem quite surprising. It could just be a matter of cashflow timing as suggested by the SHORE broker note, but its so frustrating that mgmt refuses to give more detail on something so important.

Hope it reaches previous heights. Share price does seemed to have moved up last few days on zero info. Finding a suitable commercial partner is the big news everyone is waiting for.

Refinancing both 2025 and 2026 bonds and pushing maturity at least 5 yrs out would be a very positive trigger.