Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Zengas - On the below does the below mean we had 200 mmcf/d as processed export capacity prior to the CPF so with the CPF facility we are able to transport processed gas volumes of 400 mmcf/d. Still quite unsure as to the detail behind it
I think the company needs to highlight the benefits of this capital expenditure it terms of what it means for the accugas asset, it's important for the company to highlight the detail as it better informs the market of the potential accugas has as sometimes value can simply be misinterpreted if the company does not make an effort in articulating it's benefits even thought they could be transformational but sometimes can be lost due to the fact that market has not been fully informed of the benefits.
Trust - the compression project was to increase the gas export pressure to a maximum 81 bar and deliver 110 mmcf/d per train (x 2) if i've read it right. A $45m capex project with completion later this year.
Rockyride - it’s fake news…… It’s quite difficult to do a coup in Nigeria given the way its political structure and constitution is set up. I would put the chance of it happen below 1%
https://x.com/hqnigerianarmy/status/1761839691312119986?s=46&t=bdVeLrGB139mDog1SFRNlw
Https://www.energyintel.com/0000018d-c744-d02b-abed-e7653b6b0000
Brilliant find Zengas and lots of news outlets reporting now.
Acquisitions or not savannah should get equipment in Niger in March and start operations in April / May. I hope they stop dilly dadle and final start paying Niger the attention it deserves sometimes concentrating on what you have is the best way to move forward.
Need to see a serious plan for Niger out in place now for the year
Https://nairametrics.com/2024/02/09/president-tinubu-signs-amended-electricity-bill-into-law/
Https://punchng.com/nigeria-to-woo-energy-investors-at-iae-forum/
Pipeline still exporting oil, albeit under logistical challenges
https://sudantribune.com/article282473/
Https://bnnbreaking.com/politics/niger-charts-new-energy-path-amid-government-reshuffle-and-regional-sanctions
Niger - is clearly diversifying it's export markets beyond just the pipeline great to see once production starts to ramp up. There will be a strong case to build a bigger refinery which can supply countries around it's borders whilst the pipeline will take product to international markets. Makes aggressive work programme for operators even tastier if they can start drilling.
Scotpak & Tier - Correct, my interpretation is it all depends on how much Naira the company held pre de-valuation that really affects the FX loss, so if we are able to convert naira to usd quickly than it mitigates the risk. Plus one would assume now that naira has de-valued and is in line with the parallel market it can only improve liquidity thus claw back some of the FX loss that occured through the de-valuation process.
The Company may hold onto some naira and the FX book loss if they feel they can claw some of it back through appreciation over the next few months and possibly year.............
As far as acquisitions go, I fully believe that AK would and will be pushing for an oil acquisition as at the moment we are heavily weighted on gas. I don't think gas is out of the question but he probably feels the gas numbers will grow with time with the accugas asset so the focus is definitely on an oil acquisition.
Even a small acquisition of 5,000 - 10,000 bopd will do wonders in changing our production mix an put the company on a new trajectory. I am sure there must be other small deals to be made for instance we were after ENI Tunisia asset previously which i recall was circa 5,000 bopd of oil.
Moho - I think it's safe to say we all want it back trading however I believe the company is looking to maximise this prolonged suspension window to bring a deal to market as acquisitions is a major part of it's strategy, I am of the opinion that's the intention of the company as they will find it difficult to seek future suspensions if they return without deal and than ask for a another suspension further down the line.
It's perhaps a lot more easier to keep on extending the current suspension window to complete a deal than to return and suspend again.
Zengas
We don't know the level of assurance and evidence being given to Aim to warrant extensions and how these assurance and evidence being provided fit with fixed goal posts as supposed to moving goal posts. But 100% agree seems like savannah want to return to market with approvals alongside adm doc and not just the adm doc. This probably aligns with what Rocky had been feeding us from IR over the past year he did say AK preference was also to come to the market with ADM document and approval.
Savannah may have taken this decision as the deal has progressed based on what they feel gives them the assurance they need that they will not be played with and perhaps they have than come to a decision assessing all factors that it was prudent for this particular deal to come to the market with approvals.
I wouldn't blame them considering how chad deal went, and also recent evidence of Maurel Prom / assala deal falling through both instances government intervention occurring and assets being state controlled.
Zengas & StreetsofGold - I refer to your posts on Friday whilst I agree that the South Sudan government probably haven't officially pre-empted the asset so could be positive sign otherwise Savannah would have to report back to market. Referring back to the rns on 1st Feb saying seeking in country approvals, does that mean that have ironed out all the commercials with the government ? surely approvals only come after some sort of commercial agreements in place otherwise in would be a slight jump.
Do I feel like we will get an admission document in this suspension window in all honesty no, if we are likely to than my guess is probably some point in Q2 2024 which may require an additional extension, as ever this is just my opinion from very little that's available to us in the public realms.
As for having backed up extensions of completing the south sudan deal I guess there comes a point where extensions may become meaningless if there isn't progress but we will never know what progress looks like as the company provides limited info.
When the AI article rereferred to a "few"weeks in terms of closing and the article was from 30th Jan 2024. In my mind I view the term "few" as 4-6 weeks so the date being roughly 15th March 2024 which is the date I mentioned yesterday so if we haven't had anything by than it would be safe to say we would not hit 2nd April and may need a further extension. Again these are just my own interpretations
With every extension in my mind I always think if we don’t get anything with 2 weeks to go till the extension deadline that we are at the same place so for this extension in my mind I have put 15th March as the date if we haven’t made any progress or received news from the company than we are in the same place probably looking at a further extension.