Member Info for telegraphist50

I bailed sometime ago as I just went dizzy reading LC's poorly worded RNS' that just seemed to string sentences together that never actually went anywhere. I consider myself relatively intelligent but having to re-read every RNS three or four times and still being none the wiser as to what message was being conveyed, I did doubt my intellect at times!

Alongside LC's 'word salad' was the infuriating lack of attention to detail evidenced in numerous RNS that showed nobody was even bothering to proof read the documents before release to the market even though Kibo (allegedly) aspire to be a big player in the African energy market.

Here's an extract (in italics) of last week's 'letter to shareholders' and if anyone can tell me what the wrong and/or missing words are, I'd be obliged:

'I look forward to updating shareholders regularly as we progress these projects in tandem with our blue-chip international partners and provide further details on how new technologies we are will be incorporated into their development plans and become a crucial component in delivering Kibo's growth ambitions in a sustainable manner.'

I will continue to periodically look in here as I'm really intrigued as to how it will ultimately play out, as surely LC must have a destination in place rather than just always setting off on a new journey?!

I see a lot of the same names holding & posting from since when I was a holder and I really do wish you all the best and hope that LC/Kibo pull off something spectacular SP wise for you all as you really deserve it

GLA

Well, unless it's a 'closed period', it could be Director Purchases! ;)

I suspect a few more boats will arrive before the 30's! ;)

I would have liked the interviewer to have asked AK's thoughts on the current SP weakness. C'mon Agadem, apply to become a Vox Market interviewer!

https://www.malcysblog.com/2020/01/savannah-petroleum-erratum/

For what it's worth ;)

I think NiceToMichu's post best sums it up with regards to the sector. To get significant SP appreciation here or anywhere you've got to, as Michael Caine would say, 'blow the bl**dy doors off'. The new gas customer has placated my frayed confidence somewhat and I've just got to accept that this is going to be a longer time hold to see full value than I first envisaged. I thought the closure of the 7e deal would take us up to the 30's not down to the teens. Hopefully, in the absence of events out of the control of the company, ie world events, we're putting in a floor around here at 17/18p. It's now just a case of letting the news unfold and seeing how the 7e business is actually adding value when the hard numbers via results come out in the coming months/years. Lets keep the faith and satisfy ourselves that while the SP is hovering around the high teens, slowly but surely the transition to 'sticky hands' is growing by the day. I'm certain that someone, somewhere, sometime, is going to make a fortune here. Hopefully it'll be us lot! ;)

Please don't buy anymore then! ;)

It's like playing cards with a marked deck. This is why I'd rather we'd have repaid in cash and if there was knowledge that this was never going to happen, a placing would have been a better way to go, surely?

*cash not case - although I wish I had paid in cases, this wouldn't hurt so much! ;)

Agreed, for a loan we should've been able to repay with case rather than creating this opportunity for the SP to be hit hard. AIM is a bl**dy hard place to make money!

That's harsh Delia Prince - Agadem has a right to post what he thinks and I've been on this particular thread for well over 2 years and have never seen the traits you accuse Agadem of. The SP here is a worry/concern as nothing seems to move it (sustainably) up to where most of us believe true value is but that is not of Agadem's doing. Time will tell what's going on at SAVP but lets keep posts on topic about the company and not individuals would be my ask.

Thanks Interzone. I am just curious as although I've seen the AT trades on SAVP and other companies shares before, it was the very small values/frequencies over the last couple of days that puzzled me. I'd hoped it was some kind of signal to the market that a buying frenzy was about to begin to offset the disappointment of seeing this trade below 20p again!

A number of miniscule trades again, like yesterday. Any ideas as to what/why/who? There must be a reason but it's way over my head?

https://www.youtube.com/watch?v=kFgfzrRAByI

snaffleman - please don't read Zengas latest posts until at least the clocks go forward in March! ;)

sankeys - what if Riverfort Global Capital Ltd opt for option B?

A. The lower of (a) 125% of the 10-day volume weighted average price
("VWAP") as at the date of the Facility agreement; and (b) 125% of
the 10-day VWAP as at 16 January 2020;
or
B. 93% of the lowest daily VWAP of the 7 business days preceding the
date of the conversion notice issued to the Company by the Facility
provider

hear not here, my bad!

Excuse my naivety here but what's the point of the company putting out stuff and then not delivering on it, surely they can't be that short sighted that they think we and the market will simply 'forget' what they said. If they don't deliver it all comes out in the wash so it just seems a self defeating strategy. Anyway, lets see what the 17th brings as we should at least here about whether the loan facility is repaid in shares or cash. If it's the former, I'll at least be selling down half my position and dependant upon the 'rationale', I may exit altogether. Pretty fed up atm with this tbh

Zengas, with reference to your point (in italics) 'Why did they put a total $10m 2 tranche facility in place if they are/were going to pay the first tranche off in cash - otherwise why bother having a second $5m drawdown facility in place ?'
I did wonder that at the time but what I can't understand is why put the drawdown facility on such a short timeframe if it wasn't just to create some financial 'headroom' whilst awaiting the funds from closure of the 7e deal?
Either way, we should know in around 10 days as that's when the initial tranche is repayable either in cash or shares. I presume we'll get an RNS to let us know but we're still awaiting TR1s' with regards to the sale/purchase of the bulk of the 7e SSN noteholder shares that took place around 20/12/2019 so who knows?!

Below is the extract from the RNS of 18/10/2019 and I've read it several times and on first reading my take was that it was purely to give the company some headroom whilst they awaited closure of the 7e deal and for no other purpose. Having re-read it, I still can't draw any other inference from it. If the company do choose to issue shares rather than repay it in full by 17/01/2020, I will definitely review my position here as it will feel at best that the RNS was somewhat misleading:

'The Facility is being provided by funds managed by Riverfort Global Capital Ltd.
and Yorkville Advisors Global, LP and provides Savannah with additional liquidity
to fund working capital and general corporate purposes ahead of the planned
completion of the Seven Energy Transaction (expected to occur significantly in
advance of the Maturity Date), when, as confirmed in previous announcements,
the Company expects a cash inflow of US$74m.'

The SP continues to frustrate and disappoint in equal measure!