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Zengas - I do agree with you here I do believe that the headline price is contingent upon the oil flowing uninterrupted through the export pipeline at agreed rates, preferably at the rates which the SPA was struck, and contingent payments would make a whole lot of more sense considering the jurisdiction we are acquiring these assets, protects the buyer of the assets and doesn't limit the seller if all is operational as expected, a win win for both.

Another reason why i do believe you could be right here is because they have explicitly stated that they are after another acquisition or at least one more shortly, so they must be pretty confident in terms of the the final price of these assets which has almost confidently allowed them to pursue another. I know we have said that they have plenty of legroom in terms of debt or potentially headroom up to $2.5bn but i can't imagine any company that would want to aggressively pursue acquisitions upon acquisition if the the acquisition that is in motion is not coming in at a reasonable price on closing. if you were to take chad as an example savannah strategy has always been to purchase and asset but by the time the acquisition close the price on closing is 50 - 60% of the headline price when the effective economic interest date is factored in, so i would imagine the same with this if that's the case, and the also the same with the next acquisition. The time it takes to close the acquisition fully effectively drops the final price of the asset, which is a damn good way to operate if you can strike deals effectively and also close them towards government sign off. We hit road blocks with chad but all it takes is for one to be completed successfully and than the appetite amongst the shareholders will increase for more after a successful one, but as ever Andrew needs to bring one home or people to buy into this strategy.

Nevermined / longshorttrade - Thanks for clarifying I am sure some on here would benefit that clarification. for the record i don't have any on margin, but suspect a few may have some in margin the very least. I was more intrigued for knowledge to be honest as i do trade other shares on margin and wondered how that would work in theory if i was unable to cover by selling or toping up and the share was suspended so i couldn't unwind my position. But sounds like what you are guys are saying the position will only be liquidated once trading commences as the price cannot be determined and they simply cant take the suspended price as the closing price.

Never mind - I was under the impression that they would closeout at the last suspended price in this instance but i could be wrong to be honest

Nevermind - Only works if you have other positions to close out though..........................................

Agadem / Rockyide - Appreciate the update and do keep us posted if you hear anything between now 28th July from Camarco.

My take on the wording has always been Q3 as 28th July or prior admission document, with a GM notice 3 to 4 weeks after to approve the deal in August. Which is probably why Q3 is referenced as the deal closing. A deal is only formal and closed post GM approval so I believe it could just mean loose wording, to cover all phases of the deal timeline.

Regardless it would still be nice to get some news in the next 2 weeks even if it's providing an update on Nigeria operations, potential new gas customer, niger etc and also a formal update on chad/cameroon cotco would be helpful too if there has been any changes or progress there. Shame to have a baron first 2 weeks of July considering lots to keep the company busy, lets hope the last 2 weeks are not as baron and more fruity news is released to the market.

Here is the snippet from the June results on 8th June saying the admission document will be released by 28th July. Considering they updated us 3 week early and they had till 30th June so they could have left it out of the results. I am wondering whether this means that things are on track for the admission document to be released to the market in short order........... perhaps as early as next week. Reason for my thinking is Savannah would generally have to submit an admission document to london stock exchange for approval a few weeks in advance already in order to secure a return to market date. They haven't yet released an update citing a delay so they must have some inclination as to the current status.

As reference they gave an update a week before to let the market know that the 31st December date was nailed on. So hopefully should expect the same this the round as I am sure the procedures followed would be similar. Could see an update as early as next week to confirm whether the 28th July date is going ahead or not

https://www.lse.co.uk/rns/SAVE/update-on-restoration-of-trading-p4fjdwuow7i5r8a.html

Further to the Company's 13 April 2023 Q1 2023 financial and operational update, the Company continues to advance the various workstreams required to complete the reverse takeover of PETRONAS International Corporation Limited's ("PETRONAS") entire oil and gas business in South Sudan and intends to publish an AIM Admission Document by 28 July 2023, following which point the Company would seek restoration to trading on AIM of its ordinary shares. Further updates will be provided as and when appropriate.

Komakino - Perhaps so although continued progress in Nigeria and Niger since December with reduce net debt would at least would have added a few pence to our suspended share price without a doubt whether it would have reached 40p is another question but would have been in the 30s......... to say the least.

Agreed MCB - Could also see some value attributable to us as well. We are supplying additional gas of through the latest Gas sales agreement 20 MMscfpd. Plus Niger forward plan looking more clearer now that the pipeline is coming to completion. There will certainly be some additional gas sales potential in the works so. I could still see some value in SP through our excising assets from our last suspended share price.

Interesting to know that when Savannah Energy hit the heights of 40p in June 2022, Seplat was about 118p. They broadly tend to track each other in movement, Seplat currently is at 130p so on Nigeria assets alone we should be greater than our suspended share price.

Agadem - You heard anything from IR in regards to possible re-listing timeframe and whether we are still on between now and the 28th July. They should know really as the admission document prior to re-listing is sent to London stock exchange for checks and approval so it's ready for re-listing ?

The timing is quite something wonder whether it suggest that notice for re-admission has gone out to brokers already with a re-admission date planned and fixed this month ? Just intriguing timing plus it wouldn’t make sense for them to raise to 100% margin prior to allowing punters to cover but those that can’t cover would they be liquidated at the suspension share price, interesting to know just for knowledge ? If anyone would care to shed some light

What happens to those that can’t cover and obviously the share is not trading again ? Are there forced out of their positions?

Thanks Rockyride - perhaps my source jumped the gun a bit in any case lets hope we can reach resolution as quickly as possible whichever shape or form that may come in.

Komakino - In one of my earlier post I did say we were interested in acquiring a stake in the GTA LNG project and the link you provided says - "Petrosen owns 20% of the Senegalese part of GTA" - ;)

Looks like we could soon be in Senegal as well MOU signed in Senegal for partnership in oil and gas sector.

https://twitter.com/Groupe_PETROSEN/status/1678375382519631873

Rockyride - I think the only way to salvage something from chad is through mediation and savannah know that even if they did get to trial at ICC and were awarded significant damages chad would not necessarily pay up, so a resolution will be the best outcome for all parties provide certainty for savannah on the work programme and they can focus on other assets with access to cashflow from the chad assets, Even if let's say we pay $100m and end up with 25% of the DOBA PSC and retain the 31% of the cotco pipeline i will happily take it as it will alleviate a lot of the concerns and uncertainty.

Remember Exxon were prepared to pay circa $30m as per previous articles to exit, so this will just mean that in reality an additional payment of $70m.

I would be intrigued to know if there is a clause in the Exxon debt facility that we used to purchase the asset that allows us to adjust for the potential additional sums that we may need to pay as settlement. I believe the debt facility was circa $180m. So if we haven't paid all of it off yet it would be good to get an adjustment on the debt facility to reflect the additional premium we are having to pay for the asset to offset any settlement costs, that would be a dream scenario as it would mean we are not having to fork out from our pocket.

They may be certain truth to this as the week before was the AGM on 30th June where they were hesitant on discussing anything to do with chad probably because this may have been in the works but as ever we will see..............

Rob - My guess is a good as yours and hence i did say treat it with caution apparently i. But a settlement of circa $100m is being talked about we may retain our 40% stake or reduce reduce down to 25%. although there could be slight variation on that but reckons that the settlement was agreed last week and it's just a matter of formal approval over the next few weeks, amongst all the news headlines that we were seeing the mediation process was continuing in the background through ICC.

As ever we will only know how reliable this source is if we receive formal confirmation through an RNS.....................

What if we agree to pay $100 million over 5 years and keep our current 40% stake. I would be happy with that at least we can spread the payments over a number of years from positive cashflow whilst growing the field and investing in the asset a win for savannah energy and chad as well.

I was hearing that a settlement agreement has potentially been reached between the chad government and savannah energy last week on the DOBA field PSC not sure how true it is so take it with a pinch of salt or if true what the terms are but if it’s the case it is positive for everyone even if we have to pay up slightly more it would materially remove uncertainty. Not sure how that would affect Cotco side of the business but let’s see it is expected to be finalised within the next few weeks.

Or perhaps we ending up paying chad and reducing our holding to 25%.

Savannah pay a total of $100 million to the Government of Chad and retain a 25% interest in the DOBA oil field, with approval and granting of a new long term production sharing agreement.