Member Info for speculater

Could someone else tell j88 to go on the Seven Energy website. Search presentations. Capital Restructuring. Click on it. Wait for it to download. Read pages 11 and 17 only if you are too lazy to read the entire thing. Is states equity raise fully underwritten and at a rediculously low cost of $1 mil payable in shares. Now off you go.

12:28 post below. Seven Energy website. Presentations. Capital Restructuring. Go have a read and see what assets, production and cash flows we are getting for cents on the dollar.

I wonder what benefit there is to a multi billion energy infrastructure fund (ASMA) taking a circa 7% stake in a new venture with an option to provide a further $60 mil in funding for future value-accretive deals or Niger drilling. Fund raise was fully underwritten so you can bang on about "unable to raise" until you eventually believe it yourself.

Page 11 Seven Energy Capital restructuring presentation: "Equity Issuance fully underwritten by (redacted)" What does "fully underwritten" mean? Page 17 "Equity Issuance underwritten by (redacted) in return for a US$1mn fee payable in new Savannah shares" This is an extraordinarily low fee for raising $220-$250 mil is it not. Why is this fee so low?

ASMA are a current shareholder of Seven Energy and will be getting nothing as an equity holder from this RTO. They have now seen the deal structure and Savannah's business plan going forward and have agreed to (re) invest $30 mil.now, with an option on another $60 mil within 24 months. Having been very badly burned on their initial investment in SE, why are they now investing in Savannah. I wonder if they know something that our resident derampers don't. See page 19 Seven Energy Capital Restructuring presentation: "Existing Shareholders 100% equity • No consideration • Selected shareholders may choose to participate in the Savannah equity raise"

Taken from 2016 annual report: "GWDC has operated in Niger for the past 11 years, and we have unrivalled experience of operating and drilling successful wells in the country. Since our arrival in Niger in 2006, we have drilled over 200 exploration, appraisal and development, and production wells in the area. GWDC acted as an integrated service provider on all of these wells, providing the drilling and workover rigs along with all of the associated drilling & completion services. We have 8 drilling rigs on Agadem, both 1,000 and 1,500 HP,and 4 workover rigs which are used for completion and well testing operations. For Savannah’s drilling programme we will be using Rig GW215, which will be coming to Savannah fresh from an extended drilling campaign with another operator and is therefore a ‘warm rig’ which is operating effectively with an experienced crew." Not so 'warm' now I guess but they have 7 other rigs nearby.

Let's not forget the Employee LTIP share option hurdle price is 114p for the first batch and 168p for the second batch. I wonder if this will become relevant sometime soon?

“Spec - hey you owe me a good tip now I’ve given you SOU at 15p and SAVP” Indeed! SDX and HUM currently also have my major attention. Apologies for off topic.

Agadem. I’ve already set my alarm clock for 3:45 am Tuesday. Lol. Christmas is coming early.

Even the newest LSE bb member knows to go the the “Member” search tab, type in “speculater” and see the drivel I have posted over the last 3 years. Then decide which of us is getting paid. Suggest you take Guernsey’s advice.

Again, I get paid starting Tuesday 8:01 am from the likes of you and your ilk scrambling to cover short positions. Toodleloo.

Seems there's a lot of things you don't understand jimbooo Like "From another place..... (for discussion only)" To help you out it means the statements in that post came "from another place" Anything else you need help with.

Next time (if there is one) pay closer attention - muppet. "Savannah remains focused around the delivery of value for all of its stakeholders. The company is in advanced discussions with potential asset partners and with potential new venture counterparties. The Company's position in relation to potential transactions remains unchanged, in that Savannah will only conduct a potential transaction(s) that are viewed as value accretive from a risk adjusted return on invested capital perspective."

You don't even realise that all I am doing is cutting and pasting official Company RNSs. You really think that is worth paying for? Comedian. My payday comes on Tuesday albeit deferred until at least end 2018.

An additional export route for Agadem crude to the Kaduna refinery in northern Nigeria is now advancing; Over the course of recent months, discussions between relevant governmental and corporate stakeholders have progressed materially in relation to the export of ARB crude to the Kaduna refinery in northern Nigeria. Discussions envisage the initiation of an Agadem-Kaduna early export system using trucks prior to the construction of a c.800km pipeline solution. CGG has reviewed the cost structure and associated economic modelling presented by Savannah in relation to the revised conceptual development solution and assessed a breakeven oil price of US$26/bbl and NPV10 of US$5.1/bbl at US$60/bbl to be reasonable for the Agadem-Kaduna pipeline export option; (Brent currently $63) The breakeven oil price (to generate a 10% return on invested capital) for crude trucked to the Kaduna refinery is estimated at US$35/bbl with an NPV10 at a long-term oil price of US$60/bbl (inflated at 2% p.a.) per barrel of US$3.7/bbl. The breakeven oil price (to generate a 10% return on invested capital) for crude piped to the Kaduna refinery is estimated at US$26/bbl with a Net Present Value ("NPV10") at a long-term oil price of US$60/bbl (inflated at 2% p.a.) per barrel of US$5.1/bbl; It should be noted that the Agadem-Kaduna export route is seen as being in addition to the already significantly progressed third party planned extension to the Chad-Cameroon pipeline, thus creating optionality in relation to potential Agadem crude offtake. So by truck or either of the proposed (Chad or Kaduna) pipelines gives us $4-$5 x 170m risked barrels on first 5 drills = $680m-$850m NPV. Give or take a $100m. That alone is probably 60p-80p per share!!!

Hahaha. That will bring a chuckle from about a dozen LSE bb users. Hahahaha. You have no idea the stupidity of your statement. All out of your hands now me old China. Leave it to the Gods on Tuesday.

SAVP will be targeting 272 million barrels, (gross unrisked) in 2 pay zones for the first 5 wells. With a 75% CoS that's 200 million barrels to put behind pipe! "Each prospect is anticipated to take c.30 - 35 days to drill, and there will be a rig move of c.7 - 10 days between each well. Throughout the drilling, the Company plans extensive wireline logging of target sections, with further wireline logging (including sidewall core collection, formation pressures and reservoir fluid samples) for hydrocarbon bearing sections. Wells will be suspended in the success case for re-entry and further evaluation, which would include well testing and completion using a smaller, cheaper and dedicated testing or workover rig."

The Company is also pleased to confirm that operations in Niger continue to progress ahead of the forthcoming three well drilling campaign in the Agadem basin, with all equipment and a security team for the programme now mobilised to the Company's newly constructed Jaouro base camp. Savannah has now decided to commence drilling of the Bushiya exploration well once the Company's shares are readmitted to trading.  As anticipated, Savannah took delivery of the final pre-stacked time migrated ("PSTM") dataset for the R3 East 3D seismic survey in early July. The data is considered to be of excellent quality and have met the Company's key objectives of enhancing seismic imaging of the Eocene Upper Sokor and Alternances plays, and providing better definition of deeper prospective Cretaceous structures. As part of the Proposed Transaction, the Company intends to publish an updated CPR on its Niger assets, which will incorporate this work.

1. Safe and successful completion of an 806km2 3D seismic survey over a portion of the R3 PSC Area ("R3 East"), US$1.2m under budget and ahead of schedule; 2. Signature of a rig and other ancillary drilling service contracts with Great Wall Drilling Company Niger SARL ("GWDC") for Rig GWDC 215, with a three firm well campaign confirmed and including options for a further six wells which can be exercised individually at Savannah's discretion; 3. Confirmation of the focus of Savannah's initial drilling campaign to be the R3 PSC Area, with the Bushiya and Amdigh prospects to be the first two wells, followed by either Kunama or Eridal, all located within the R3 East 3D seismic area; 4. Identification of six further potential drilling targets, located in the R1 Dinga 3D and R3 Central 2D areas; Plus we now have an extra $100mil. in the kitty to fund all the above.

As part of the agreement with the government of Niger, CNODC created national branch in Niger (CNPC-NIGER-PETROLEUM SA) and carried out further exploration. Between 2008 and 2012, 76 exploration wells were completed of which 62 have resulted in discoveries. This led to an increase of the previous reserves estimates from 324 million to 744 million barrels of oil and from 10,000,000,000 cubic metres (3.5×1011 cu ft) to 16,000,000,000 cubic metres (5.7×1011 cu ft) of natural gas reserves. In 2013, a second exploration permit was awarded to CNODC with the reserves now estimated as high as 1 billion barrels. 62 discoveries out of 76 wells is over 81% or 4 out of 5. Hmmmmmm