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I find the first article quite intriguing as the investor confidence is purely driven by them. On one hand they are comparing that the investment sentiment is low and yet they are very slow in approving savannah deal. Makes no sense at all approving savannah deal will go along way in bring back confidence in the South Sudan oil and gas sector and rejecting it will kill any investment for the foreseeable future

Interesting coverage on south sudan and oil sector with a couple of articles:

https://www.linkedin.com/pulse/investor-fatigue-hits-south-sudans-oil-production-bogere-charles%3FtrackingId=xaE9JjrrT4q%252FLkHjdItuRg%253D%253D/?trackingId=VnBO%2FF2CTX6YN%2BKCPg7jnA%3D%3D

https://www.linkedin.com/posts/foreign-invstment-network_believeinafrica-partnerships-economicgrowth-activity-7122186320382193664-gmmM?utm_source=share&utm_medium=member_desktop

I think he played a massive part in us obtaining our Niger licences back in the day

Great to see Yacine Wafy Savannah Director in this list - https://www.choiseul-africa.com/wp-content/uploads/2023/10/Choiseul-100-Africa_2023-1.pdf

Komakino - Savannah is also at 3rd Morocco Oil & Gas Summit and Exhibition next week. Yacine Wafy presenting - https://www.in-vr.co/morocco-oilandgas

Seems like they are are probably interested in North Africa as well..................

With growing energy demand and a determined effort to exploit its abundant natural resources, the country finds itself at a pivotal moment where innovation, environmental management and economic progress converge.

“Tapping into Niger’s rich hydrocarbon reserves and exploiting its abundant renewable energy potential are not only crucial steps for the country’s sustainable development, but also a means of consolidating its role as an energy leader in the region. Increased investment and infrastructure development will not only boost Niger's economic growth, but will also significantly contribute to the energy security and environmental sustainability of the entire West African region. , says NJ Ayuk, executive president of the AEC.

Minister Barké's statements promise to be a highlight of AEW 2023, providing a unique perspective on Niger's role in the global energy landscape and its journey towards a sustainable and prosperous future.

AEW is the AEC’s annual conference, exhibition and networking event. AEW 2023 will bring together African energy decision-makers and stakeholders with global investors to discuss and maximize opportunities across the continent’s energy sector. For more information on AEW 2023, visit https://aecweek.com

https://aecweek.com/le-ministre-nigerien-du-petrole-des-mines-et-de-lenergie-se-joint-a-aew-2023-pour-presenter-le-programme-energetique-durable-du-pays/

Mahaman Moustapha Barké, Nigerien Minister of Oil, Mines and Energy, will meet other regional ministers and global investors during the African Energy Week in his active search for investments for Niger's sustainable development.

Niger is making significant progress towards its sustainable development. The country has huge proven reserves of oil and gas, as well as significant deposits of minerals and untapped renewable energy resources. As global attention increasingly turns to environmental preservation and equitable economic progress, Niger's energy sector is emerging as a focal point for investment opportunities.

As such, the African Energy Chamber (AEC) is pleased to announce the participation of the new Nigerien Minister of Oil, Mines and Energy, Mahaman Moustapha Barké, as a keynote speaker at the Africa Energy Week (AEW) conference and exhibition, scheduled for October 16-20 in Cape Town. Minister Barké will highlight the opportunities and challenges of Niger’s dynamic energy sector while providing valuable insights into promising investment prospects that can propel sustainable development in the region.

As one of the largest countries in West Africa, Niger has significant surface water resources in regions such as the Niger River Basin and the Lake Chad Basin, as well as a wealth of mineral resources, including uranium, gold, coal and oil. The country's main economic activities include agriculture, livestock, fishing and handicrafts, with exports including oil, uranium, gold, livestock, etc. As a major player in uranium and oil production, Niger, led by Minister Barké, is poised to further develop its energy sector, with ambitious goals for sustainable development.

In line with its sustainability objectives, Niger is actively diversifying its investment landscape by developing its renewable energy sector. The country has attracted considerable investor interest, driven by its abundant solar and wind resources. Savannah Energy Niger Solar notably concluded an agreement with the government to develop two solar power plants with a total capacity of 200 MW. This initiative follows a 2022 agreement between the same company and the government for a 250 MW wind project. These renewable energy initiatives will significantly improve sustainability and strengthen energy security in Niger.

Meanwhile, on the oil front, Niger is expected to begin crude oil exploitation by the end of 2023, marking a significant milestone in its oil production journey. The flagship Niger-Benin oil pipeline project is almost complete, with 98% progress. This project will increase Niger's crude production to 110,000 barrels per day (bpd) and provide access to global markets via an export terminal on Benin's Seme coast. Currently, Niger produces 20,000 b/d from the Agadem block, operated by the Chinese National Oil Company (CNPC), processed locally at the Zinder refinery.

Seplat founder banks on buying assets from TotalEnergies and Equinor to revive his career

French oil major TotalEnergies is reportedly on the verge of selling part of its Nigerian oil assets. The former CEO of Seplat, Austin Avuru, is in pole position to acquire them.

Austin Avuru, the founder and former CEO of Seplat, is considered as a preferred bidder in the process of buying TotalEnergies' 10% stake in the oil blocks of the Shell Petroleum Development Company of Nigeria (SPDC) joint venture, Shell's Nigerian subsidiary.

If Avuru wins with his firm Chappal, he would take over part of an asset representing 10% of Nigeria's domestic gas and almost 30% of the country's production. Added to this are 3,000km of pipelines in the Niger Delta, as well as two export terminals.

Two simultaneous deals

Avuru has the added advantage of being very well-connected to President Bola Ahmed Tinubu's power base. In June, he was appointed a member of the energy and natural resources sub-committee of the new head of state's advisory council, alongside Tinubu's special adviser on energy, Olu Verheijen (AI, 30/06/23).

However, Chappal's interest in deals could prove to be a drawback. At the same time, it has also won preferred bidder status in the bid to acquire the assets of Norway's Equinor in Nigeria - essentially the 20.2% stake in the giant Agbami field operated by Chevron. Yet it may be difficult for Chappal, which does not yet own a single asset, to complete both purchases simultaneously.

If the purchase of TotalEnergies' shares is confirmed, Avuru could find himself in partnership with his former employer, Seplat, which has been bidding for the 30% stake in SPDC that Shell has been trying to sell since 2022.

Shell stalls for its 30% stake

In addition to Seplat - which is currently busy with its unsuccessful takeover of ExxonMobil's shallow water oil blocks - a number of other companies are also in the running to buy Shell's 30% stake in SPDC: Heirs Holdings (owned by banker Tony Elumelu), Sahara Energy (the trading subsidiary of Sahara Group led by Tope Shonubi) and ND Western (comprising Niger Delta Petroleum and, among others, Beninese businessman Samuel Dossou-Aworet).

Elumelu has approached Tullow Oil and Gran Tierra Energy to form a trio capable of financing a deal worth nearly $3bn, as we revealed (AI, 07/04/22).

Despite this clear interest in its SPDC interests, Shell has apparently decided to give itself more time before completing the transaction.

Looks like oil and gas outlook from OPEC underlines the underinvestment in the sector and demand is not going anywhere in the short medium or long term

https://www.reuters.com/markets/commodities/opec-raises-oil-demand-view-long-term-outlook-2023-10-09/

I am interested to see if it does commence how aggressive can Savannah be in terms of securing pipeline capacity and getting some well drilled and flow tested.

In my personal opinion if the pipeline does commence and we are aggressive I think we can get to 5-10k of production from Niger by the end of 2024 and up to 20k by end of 2025………………

It’s important savannah start to get some reserves booked and start producing some oil up to 5k Bopd than Niger will almost become self funding. I am sure once we book reserves and get some production we could easily get access to some RBL debt facility so Niger becomes a self

Sustaining production based that can grow from its own revenue and reserves

Https://www.linkedin.com/posts/kabirou-zakari-oumarou-213464101_le-niger-fait-un-grand-pas-dans-lindustrie-activity-7116383274423193600-4MOb?utm_source=share&utm_medium=member_ios

Niger is taking a big step forward in the oil industry.

Over the past three years, intense activities have led to the development of 109 new fields on the Agadem block and the construction of the longest pipeline in Africa, with a length of 1950 km, from Agadem (eastern Niger) to the maritime coast of SEME in Benin.

All the work is at a 98% completion rate. By the end of this year, the first cargo of Nigerien crude oil, the "MELECK", will be loaded to the international market.

Indeed, in addition to the 20,000 barrels produced per day and entirely destined for the Soraz Refinery (Zinder) since 2011, an export production of 90,000 barrels per day will start in December 2023. This export production will certainly increase in view of the very promising research underway on other blocks and the enormous unexplored potential of the Nigerien oil cadastre.

As a next step, Niger wants to create more added value, with a focus on the creation of a petrochemical industrial hub and placing the oil sector at the heart of Niger's industrial policy.

Be prepared to receive MELECK, a quality crude oil with a very low sulphur content.

Welcome to MELECK, Welcome to Niger!

Sound like positive news as we know that xi ping has been in deep discussion with Niger, Benin and Ecowas and is pulling his weight with China heavily invested in the pipeline project. If the pipeline is resumed, I want to see aggressive drilling campaign and securing some pipeline capacity from Savannah in Niger

Africa Oil week this week - https://africa-oilweek.com/home followed by Africa Energy week https://africa-oilweek.com/home

It would be interesting to see if any major deals that come out of these 2 events in south africa and the tone in the african oil and gas space not Savannah Energy Specifically but across the sector.

One thing is the timing of these 2 events couldn't be more pertinent as global events such as the Israel / Palestine conflict is showing we are in a fragile energy security world and on top of that the severe under investment that has been going on the the last few years has really put a strain on long term supply outlook for oil and gas when demand still continues to grow.....................

If Africa really wants to attract capital it will not find a better moment in terms of selling itself as the destination of choice by ensuring deals are done swiftly and ensuring that there is transparency is the sector. The greatest winners in the african oil and gas space will be the countries that are willing to sanction deals quickly.............

On the capital front i do see more capital flowing into the african oil and gas space and should loosen the strings on debt providers as they will be more keen to fund deals and back the independents which they feel have the capabilities to deliver............. Savannah would have to be one of those independents that would be on top of the list or there abouts with there ESG credentials making it a safe vehicle for debt providers to park their capital with allowing them to still have a piece of the oil and gas pie without the scrutiny of not complying with ESG and Carbon reduction agenda as Savannah has made significant strides in this aspect shown from there various ESG and sustainability reporting.

I truly believe debt is available for the right deal which can get through the technical & regulatory approvals. As for the SS deal who knows their could be a condition this this round the debt providers might want to see explicit consent granted from government before execution........................................................

Plus considering the fact that AK consistently keeps on saying we continue to look for hydrocarbon acquisitions surely he knows or there must be a list of debt providers that are willing to grant debt to savannah for acquisitions obviously with certain t&c's and the major one being approvals for acquisitions from host countries.................................

Seems like Bracewell LLP the law firm was involved in another deal in Nigeria the new age asset disposal. Looks like NIgeria M&A space is starting to heat up again, this is on the back of another deal which they helped ENI sell to Oando in September 2 deals in space of 4 weeks.

https://bracewell.com/news/bracewell-represents-new-age-disposal-nigeria-assets

https://bracewell.com/news/bracewell-represents-eni-disposal-nigerian-assets

https://bracewell.com/news/bracewell-represents-maurel-prom-acquisition-assala-energy

https://bracewell.com/news/bracewell-represents-africa-oil-corp-equatorial-guinea-offshore-assets

https://bracewell.com/news/bracewell-represents-eni-sale-assets-egypt

https://bracewell.com/news/bracewell-advises-savannah-energy-407-million-acquisition-exxonmobils-business-chad-

https://bracewell.com/news/bracewell-advises-savannah-energy-transaction-acquire-south-sudan-blocks-125-billion

Let's hope they can help us secure a deal in Nigeria as well................................

One thing I will say is considering all this M&A happening around africa in the oil and gas space and as Zengas alluded to surely it's not a fools game for all these deals still continuing to be executed, and from a legal stand point there must be some expertise from Bracewell to conclude deals through the regulatory approval hurdles sooner or later perhaps not with all the deals that they help facilitate but you would imagine a few will get till the end ................................

Otherwise would be a bit of joke if none of there deals which they facilitate end up being successfully completed till the end wouldn't be such a great look................ just my thoughts that they must know the african deal making and regulatory landscape well enough to continue apace with their clients on deals.

Also they don't just help with deals as you can see from there websites they also facilitate to help raise debt as well. So one would like to think that when they signed SPA certain checks are done to ensure that they can secure debt for us or help us facilitate in raising debt ................

Happy weekend folk......................................................................

First naira denominated debt infrastructure fund launched in Nigerian stock exchange yesterday. Search google for naira debt infrastructure news plenty of articles.

Sounds like good news and would hopefully signal a positive news and sentiment to the market helping us also close accugas debt restructure should start to increase availability of naira and bring liquidity to the market in raising naira denominated debt.

I wonder if they are one of the investors into the accugas debt……. Either way seems like more debt funding will become available in local currency as more investors might take this as a signal and hopefully increase supply of naira for debt and infrastructure projects.

Looking at there investment objectives “Storage and transportation facilities for hydrocarbons, including natural gas.”

https://ndif.webflow.io/

https://businessday.ng/markets/article/first-naira-denominated-infrastructure-fund-lists-on-ngx/?amp=1

MR B - I believe the construction is still continuing it’s the commissioning of the pipeline that they are trying to delay that’s what an article seem to say from Africa intelligence

On your point around continuing to still grow head count, one would hope that there are genuine reasons that we may not be privy too that justifies continued growth in headcount......................

Rockyride - I do sincerely hope that we don't have to wait 2.5 month for the next rns. Hoping for a few operational update RNS's. For me personally the following 2 will go along way:

1) News of additional accugas contracts

2) debt restructuring - if they had a term sheet already that we shouldn't have to wait till December 15th for news on debt restructure .

Acquisitions or not the company, AK, and the board need to do a better job in keeping the market and the investor base appraised on existing business as a bare minimum......................

Https://careers.savannah-energy.com/job/London-Assistant-Company-Secretary-LND/956531755/

Hmm, perhaps they might need to devise or structure contracts that allow us to maximise up to 200 mmcf//d or at least until 180 mmcf/d, helping us maximise as close to our current processing capacity

Correct me if I am wrong but according to H1 2023 update we are averaging daily production from Nigerian operations was 25.3 Kboepd. If I our processing capacity is 200 MMSCFD that's equivalent of 35,000 Kboepd.

So in theory we still have plenty of leg room to sign additional gas contracts to the tune of 10k still lets hope we can start to ramp this up. Personally I don't think it's a tough ask to get to 30k plus in the next few months minimum...........