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SAVP, ECHO and SRSP

At last, Savannah Petroleum (SAVP) has confirmed the actual start of its Niger drilling campaign.  Despite the long awaited nature of the news, the share price fell, weighed down now by over half a billion shares issued to acquire certain assets of Seven Energy in Nigeria.  Unfortunately this "value accretive" deal has turned out not to be so for the shareholders.

Echo Energy (ECHO) announced the appointment of a Chief Operating Operator and an update on its Bolivia operations.  Surprisingly, its shares moved down on the news.  Tens of millions of the 3p warrants must still need to be worked through.

Sirius Petroleum (SRSP) announced the mobilisation of the COSL Force jack-up rig to Nigeria.  Once on station, it is anticipated that drilling of the Ororo-2 well will commence in April 2018.  Up a few percent today on the news, but still trading below the recent placing price, SRSP has potential.

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The author holds one or more investments in one or more of the companies mentioned so this post cannot be viewed as independent research.  This post does not constitute investment advice or a recommendation to buy or sell and may be incorrect or outdated.

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