Member Info for SQ320

jackpack the timing of the new deadline is a foregone certainty that this is to put max pressure on the Tanz govt.

Too close to the elections and there'd be no time to cause an impact on the result. Too far away and the newscycle would have moved on. The timing is sweet.

But it does not say a lot for the relationship with the Tanz govt though.

"2 million share buy ? someone's confidant".

Blackgold, Confidant in this instance meaning not just confident, but also privy to some inside info. A bit like Janan Ganesh in yesterday's FT using the word 'bathetic'.

Hasn't there also been a material change in the fundamentals though, compared to when we were at 28p?

There is now NO hope of a farm-in for Niger, which would have been a major positive development and likely key shareholders interested for material good news. And any activity on our part in Niger has been pushed back by a year or so.

When we took on the debt, we took several steps back. The fact we are now getting paid only, slowly, brings us a step forward every few months.

If we had been able to acquire new quality customers who would help pay down debt faster, that would be a net positive, but they are taking their time. No doubt because they don't want customers who'll then string them along for payments.

As I see it a buyback allows existing shareholders the chance to sell out without trashing the SP. And as we know there is one (or likely more) large shareholders who want out.

On the other hand, a dividend gives a reason for existing shareholders to stay put and new ones to buy-in (those wanting income).

AK himself says in the last AR that O&G investors are nowadays looking for income.

I can well imagine quite a few callers/emailers to SAVE HQ over the next few weeks/months will be re-directed to what the company have published today.

It's fairly comprehensive, gives a clear rationale as to their intentions and reasons. I am not entirely happy with it, but you can't accuse them of not being transparent.

Well they are now looking to self-fund Niger, so don't even think about an sp spike on news of farmout and be ready to wait 18-24 months.

Each time they issue an RNS it costs the company money in terms of various fees. If there is another one it should just be in terms of months and not weeks. We're used to it.

All 4 of them this morning! ;(

AIM rules allow for a 3-month delay due to CV19. Anything earlier than that is a bonus.

Since AIM are giving co's upto 3 months to submti results, I guess they could come at any time from now till - the half yearlies?

Didn't the company say that they would be doing 'batch testing' of the wells with a different rig?
And that that's the way things are done out there.

Well let's do some kremlinology with what he has said:

"No, I don’t think you’ve gone mad but I couldn’t blame you if you had after all this time. In fact, even I nearly lost my patience on more than one occasion!"

He does not think Edgar has gone mad, i.e. there is some rationality to Edgar's belief.

As for the second sentence, he's saying that his patience is still there.

So I see it as positive. However, we have to consider where malcy is coming from. If he was just another PI, albeit well-informed and with connections who had skin in the game, then I'd be reassured.

But the more complicated his role is, the more salt you need to start adding.

I recall his taking everything that Paul Welch said at SDX at face value, even though the rest of us PIs were screaming out for more probing questions and he stuck with PW until right the very end. How someone can go from full-on support to no longer having any interest in SDX with no doubts in the middle is just weird I think, .

What I don't understand is how off the back of the 2 numbers the company supplied the brokers can make these assessments?

He's gone back to copy/paste mode.

As you were.

Nothing to see here.

I have a suspicion it may be Naira and one question for any AGM is not just the matter of getting paid, but issues around converting to $ in order to pay the debts. SDX have a similar issue in Egypt, one way they deal with it is that their capex is also in the local currency. You'd imagine that SAVE likely have that positive as well. But there's a heck of a lot of $ they need to take out to pay that half billion debt.

We will get paid later than expected, we'll perhaps not get all that we are due, but ultimately does any downgrading of performance mean that the shares should be at 7p?

Personal contact with IR (of any company) is notorious for the potential to mislead. AFAIK Paul Curtis's guru WShak puts little store by speaking to directors. Given Agadem declared buying a load yesterday, I hold nothing against him.

Today's RNS should either have given a specific date or been honest and said any time in the next three months, but hopefully earlier.

If IR were telling Agadem the truth, then it suggests that something unexpected came up in the last week, which does not look at all good does it?

So you end up hoping that they were lying.

There's not even a specific date as to when the results will be released. Last year they reported a loss of US$24m and had total current assets of $24m. since the latter figure is almost unchanged I guess this could be interpreted as sort of good news i.e. money is coming in, unless they've been making use credit facilities.