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But the lawyer's most ardent fan is undoubtedly former Senegalese president Macky Sall. During the period when Sall was facing attacks from the Senegalese political class over the involvement of his brother, Aliou Sall, in Petro-Tim's 2013 acquisition of the Cayar deep offshore and Saint-Louis deep offshore blocks, the lawyer vigorously defended him, and the two became fast friends. Petro-Tim was at that time owned by Australian-Romanian businessman Franck Timis. The blocks in question were sold in 2014 to Kosmos Energy, which then brought in BP after the giant Turtle gas discoveries in 2015. A BBC documentary, broadcast in June 2019, raised allegations that Aliou Sall received money from Timis in exchange for the work he carried out to secure the licences.

Ayuk is also close to several other African heads of state. He is received at length by the South Sudanese president, Salva Kiir whenever in Juba. He also worked on a gas strategy with Zimbabwean president Emmerson Mnangagwa, and is quick to pose for photos with him when the opportunity presents itself. Before the former Namibian president Hage Geingob's death this February, the lawyer met with him regularly during the period where discoveries in the Orange Basin grew thanks to TotalEnergies, Shell and Galp Energia (AI, 04/06/24). In the wake of Geingob's death, Ayuk set up meetings with interim president and former vice-president of Namibia Nangolo Mbumba. And although former Kenyan president Uhuru Kenyatta has not yet signed any deals with Ayuk's law firm, the pair have forged a very strong bond.

Meanwhile, Ayuk has most African oil ministers eating out of his hand, thrilled as they are to see him championing oil investment in the continent. In particular, this is the case for the Congolese national Bruno Jean-Richard Itoua - a regular at conferences organised by the lawyer - and his Angolan colleague Diamantino Azevedo. Nigeria's Minister of State for Petroleum, Heineken Lokpobiri, is less likely to be seen alongside Ayuk, as is his gas colleague Ekperikpe Ekpo, who was invited to the Invest in Africa Energy forum in Paris and Africa Energy Week in Cape Town in October 2023, but was conspicuously absent from both events.

An international networker

But Ayuk's circle of friends is not just confined to his oil buddies, who include Jude Kearney, head of the Washington office of Asafo & Co, and Bill Drennen, former vice-president of ExxonMobil. The lawyer is also on good terms with Erik Prince, founder of the Blackwater mercenary group, Ryan Zinke, former Secretary of the Interior under ex-US president Donald Trump, and Alex Epstein, a pro-oil industry American author.

Inner circles | Africa - The powerful friends of star oil lawyer NJ Ayuk

With 20 years' experience in legal counsel and lobbying for African governments keen to secure their countries' place on the oil map, Cameroonian NJ Ayuk, a thorn in the side of anti-fossil fuel civil society, now fancies his hand at investment.

Published on 12/07/2024 at 04:40 GMT Reading time 7 minutes

Last December, the most well-connected lawyer in African oil, NJ Ayuk, handed over the reins of his Johannesburg-based law firm Centurion Law Group (now owned by Nigerian Zion Adeoye) to focus on his new venture at the head of an investment firm. The details of this new project have yet to be finalised, but one thing is certain: the funds for it will come from Asia. Over the years, Ayuk has observed an unwavering Asian interest in African oil and gas - a trend at odds with that of the West, which has turned its back on the continent's hydrocarbons sector.

Despite Ayuk's change of direction, he still retains a firm grip on his main lever of influence and the official lobby for the African oil sector, the Africa Energy Chamber (AEC), which he founded. In Paris, at the second Invest in African Energy conference, held by the AEC on 14 and 15 May 2024, Ayuk was quick to jump to the defence of oil-producing countries when activists from several environmental NGOs - including Friends of the Earth France and Action Justice Climat - interrupted the event to protest against further investment in fossil fuels.

The AEC is a key ally of African oil-producing countries in their battle against Western and African NGOs active in the fight against climate change, which are urging an end to investment in the oil and gas industry. Indeed, Ayuk's work with the AEC over the past five years has considerably fattened his address book. But Ayuk is a polarising figure, with a list of enemies as long as his roll call of friends.

Friends in high places

African presidents and ministers welcome Ayuk on his regular jaunts to the continent's oil-producing countries. In late June, for example, he was in Uganda to support the TotalEnergies development programme - set to start production in 2026 - and met with a number of officials, including Ugandan energy minister Ruth Nankabirwa. He will also meet President Yoweri Museveni in a couple of weeks. From 18 to 22 January, he accompanied OPEC Secretary General Haitham al-Ghais on a trip to Brazzaville and Libreville, where he was received by Presidents Denis Sassou-Nguesso and Brice Clotaire Oligui Nguema respectively.

Good to see Savannah continuing to build out it's team.

Senior Project Development Lawyer

We're looking for an experienced project development and finance lawyer to join our team in London, 5+ yr PQE. Applicants must have major law firm experience and be able to work in French and English.

https://www.linkedin.com/jobs/view/3964198582/

Tier - I wasn't trying to be negative, I was just stating what we don't know as information had been very scarce in relation to South Sudan deal.

Overall, I am still very positive on the business as usual items that company have on the horizon:

1) Completion on CPF to be expected in the next few months

2) Completion of Stubb Creek acquisition

3) Hopefully converted all of Accugas debt after the January 2024 transitional facility by year end.

4) Niger well test

5) Renewable starting to take shape massively with DFC partnership which I believe is huge as we could use that partnership to fund a couple of our renewable projects in Africa.

6) There have been plenty of companies created as per companies house filings, far more than what the market knows about in terms of what they relate too

Plenty in the pipeline in the short medium and long term to be excited about, the only thing that anyone on here is not certain of is the sequence of execution, and what it means for the company.

I wonder if the DFC would be willing to give us political risk insurance for south sudan acquisition, they provide insurance for up to $1bn dollars.

Types of Coverage

Currency Inconvertibility

Expropriation

Bid, Performance, Advance Payment, and Other Guaranty Coverages

Political Violence

Reinsurance

Breach of Contract for Capital Markets

https://www.dfc.gov/what-we-offer/our-products/political-risk-insurance

https://www.dfc.gov/what-we-offer/our-products

Would be nice to use our current relationships on the insurance front to see if they would consider providing insurance for our SS Deal.

Also even if we get in country approvals what is the legal validity of all these approvals are they watertight and worth the paper their written on especially if ministers get sacked so often......................

Savannah Energy have persisted this long so hear is hoping that there is a credible reason why they are still their and what's in the public domain and what's on the ground tell a completely different picture a bit like what Andrew said about the AI article at the AGM.

Other's will have a different view but this constant sacking of ministers is purely designed to halt progress, make no mistake that Kiir does this to stall progress and approvals.

I would be massively surprised if we get approvals for our SS Deal.

Looks like our renewable funding for Niger will eventually confirm from the U.S. International Development Finance Corporation (DFC).

It's really good to see they are providing technical funding to get the project ready as well, pleasing as it means that we can progress Niger renewable projects without it being a cash drain on our business.

"Helping Niger convert wind into energy: $1.2 million in technical assistance to Savannah Energy RN Limited will help support the development of a 250MW wind farm in Niger."

https://www.dfc.gov/media/press-releases/dfc-approves-42-transactions-totaling-more-51-billion-across-priority-sectors

This relationship will definitely help us unlock renewables funding for other projects in africa aside from Niger too.

Financing is not the only challenges that faces governments from nationalising its also retaining technical expertise and talent to make nationalisation work otherwise production will dwindle very quickly

https://www.africaintelligence.com/central-africa/2024/07/04/gabon-oil-co-faced-with-wave-of-departures-at-assala-energy,110254292-eve

This is interesting CNPC looking at be in offshore blocks as well could bode well for savannah as if they secure Benin offshore than their influence of pipeline operations running smoothly between Niger and Benin would be even greater and would be great for Savannah too

https://www.africaintelligence.com/west-africa/2024/07/02/cnpc-and-petrobras-set-their-sights-on-block-4,110253572-art

I wonder if the elections now scheduled to take place in December might further delay approvals

https://x.com/patrickheinisc1/status/1809889081163182324?s=46

Tier - we should receive an update / extension 31st July. Here is the extract from 17th June RNS "A further update on transaction progress, and associated matters, is expected to be made within the next six weeks."

Although it says update on transaction progress, I can't imagine they will disclose anything more than they have done to date. So I expect the tone and the content to be relatively the same judging by the fact that they had said admission is currently timed for September at the AGM last week, I can't imagine things would progress that quickly to provide a substantive update end of July.

Aside from admission document and south sudan transaction, I am hoping that they can announce a few rns's on other business matters, they did say that Q3 2024 was targeted close for the Sipec deal so we could see that alongside some renewable deals.

7 June 2024

Savannah Energy PLC

("Savannah" or "the Company")

South Sudan Acquisition Update

Further to its announcement on 17 May 2024, the Company advises that its ordinary shares remain suspended from trading on AIM while it advances the various workstreams associated with completion of the proposed transaction and is working towards publishing an AIM Admission Document in Q3 2024. A further update on transaction progress, and associated matters, is expected to be made within the next six weeks.

Https://x.com/Savannah_Energy/status/1808511305105461434

Today we are proud to celebrate our 10-year anniversary! Since our inception a decade ago, #Savannah has achieved remarkable growth, delivering Projects that Matter in both hydrocarbon and renewable energy across Africa, and seeking to meaningfully contribute to the economic development of the countries in which we operate.

We take this opportunity to thank our talented and dedicated people, and, at the same time, offer special thanks to all our stakeholders, including our host countries and communities, customers, suppliers, partners, and shareholders, for continuing to support our journey over the last 10 years and beyond.

We will remain unequivocally an “AND” company. We will seek to deliver strong performance, both for the short AND long-term, across multiple fronts. We are pursuing growth opportunities in both the hydrocarbon AND renewable energy areas. This approach permeates our entire business and how we have built and will continue to build our corporate infrastructure.

Thanks for all the posters on here that keep the board informed on matters. One thing I wil say is I understand it’s been frustrating to date but keep up the positivity as I believe positivity and shareholders support is now more than vital to allow AK to execute the strategy let’s get behind AK, Board and the company to deliver whether it takes another 3 months or another 6 months . Now is not the time to play the blame game but to really get behind the company in the positive manner. I believe the company are doing everything and more in trying to deliver what could be transformative for the company and I would rather that we give them time to execute than to rush them to comeback due to shareholder pressure.

Of course these are just my own views and everyone is entitled to their own opinion but let’s keep this board constructive and informative and let’s try our best not to turn this board into an ugly forum of slander

SOG - thanks very much for providing clarity on a lot of points for the board much appreciated and helps us be informed.

Going for smaller deals like stubb creek might be the right approach especially if they can be oil deals. I would be happy with 5,000 Bopd oil acquisitions in Nigeria. Perhaps the company might have realised it might be worth doing a series of smaller deals to concluded quickly and might be easier from a regulatory perspective which might than enable us to do larger deals

I am not sure how i would value a power plant acquisition in Nigeria. But the closest reference point is probably. Transcorp power https://transcorppower.com/

it's total power generation capacity is 2000 MW. for reference if we were to acquire Calabar it's 563MW so a 25% of transcorp power generation capacity.

Trancorp market cap in USD is currently $1,834 bn dollars or £1,451 bn pounds. Some commentators have been saying that power businesses in Nigeria is currently going through transformation and power assets will be as highly sort after same as oil assets.

Scotpak - I wasn’t there in person but I had captions on during the conference so managed to make note of a lot.

Didn’t have any comments around Nigeria power plants but what I did find interesting was that there was brief commentary around having development finance institutions on board for highly profitable power infrastructure projects and they mentioned in that context. Niger which we are aware of as they have said we have 2/3 rds financing in place for our renewable projects. But they also mentioned Nigeria in that same bit and said development institutions they have relationships are willing to provide financing for power related infrastructure projects so perhaps the 3 new holding companies that I mentioned somehow relate to all of this

Porsche - The regulator bit through me a little wasn't sure what was meant there between the regulator being comfortable in SS deal completion and AD document publication or whether Savannah receiving advice from the regulator which prompted them to only issue ad doc on admission .

My guess is the latter the regulator must have raised some points to Savannah which prompted savannah to take advice and opt to come to market only on formal conclusion of deal as supposed to how its previously done deals.

On doing additional deals

On re-listing he did mention as it stands the intention is September so I am not expecting a major earth shattering update in the end of July update other than continuing with work streams.

He did say in any case they will be engaging with brokers and investment banks heavily to articulate the growth of the business prior to re-admission so that the market fully understands the business and its progress upon re-listing.

That was a big sigh of relief for me too because aside from South Sudan It would be good for the market to understand the sipec deal, 2/3rds funding secured for renewable projects in Niger, Niger pipeline operations commencing etc.