Savannah Energy Plc Update on Proposed Acquisition and Suspension (3508U)
December 02 2021 - 1:06AM
UK Regulatory
TIDMSAVE
RNS Number : 3508U
Savannah Energy Plc
02 December 2021
2 December 2021
Savannah Energy PLC
("Savannah", "the Company" or "the Group")
Update on Proposed Acquisition and Suspension
Savannah Energy PLC, the African-focused British independent
energy company sustainably developing high quality, high potential
energy projects in Nigeria and Niger, provides the following
update.
The Company's ordinary shares were suspended from trading per
the Company's announcement on 2 June 2021 as a result of the
requirement for the Company to announce it was in advanced
exclusive discussions with ExxonMobil Corporation with respect to
the proposed acquisition of its entire upstream and midstream asset
portfolio in Chad and Cameroon (the "Proposed Acquisition").
The Company continues its final work in relation to the Proposed
Acquisition and intends on publishing an AIM Admission Document on
or around 17 December 2021, 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.
+44 (0) 20 3817
Savannah Energy 9844
Andrew Knott, CEO
Nick Beattie, Deputy CFO
Sally Marshak, Head of IR &
Communications
+44 (0) 20 7409
Strand Hanson (Nominated Adviser) 3494
James Spinney
Ritchie Balmer
Rob Patrick
finnCap Ltd (Joint Broker)
Christopher Raggett +44 (0) 20 7220
Tim Redfern 0500
Panmure Gordon (UK) Ltd (Joint
Broker)
John Prior +44 (0) 20 7886
Hugh Rich 2500
+44 (0) 20 3757
Camarco 4983
Billy Clegg
Owen Roberts
Violet Wilson
The information contained within this announcement is considered
to be inside information prior to its release, as defined in
Article 7 of the Market Abuse Regulation No. 596/2014, and is
disclosed in accordance with the Company's obligations under
Article 17 of those Regulations.
About Savannah Energy:
Savannah Energy PLC is an AIM market listed African-focused
British independent energy company sustainably developing high
quality, high potential energy projects in Nigeria and Niger, with
a focus on delivering material long term returns for stakeholders.
In Nigeria, the Company has controlling interests in the cash flow
generative Uquo and Stubb Creek oil and gas fields, and the Accugas
midstream business in South East Nigeria, which provides gas
enabling over 10% of Nigeria's thermal power generation. In Niger,
the Company has licence interests covering approximately 50% of the
highly oil prolific Agadem Rift Basin of South East Niger, where
the Company has made five oil discoveries and seismically
identified a large exploration prospect inventory consisting of 146
exploration targets to be considered for potential future drilling
activity.
Further information on Savannah Energy PLC can be found on the
Company's website: www.savannah-energy.com .
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCFIFIDFVLFIIL
(END) Dow Jones Newswires
December 02, 2021 02:06 ET (07:06 GMT)
Savannah Petroleum (LSE:SAVP)
Historical Stock Chart
From Aug 2024 to Sep 2024
Savannah Petroleum (LSE:SAVP)
Historical Stock Chart
From Sep 2023 to Sep 2024