Savannah Petroleum PLC Seven Energy Transaction Update (4020U)
29 March 2019 - 6:01PM
UK Regulatory
TIDMSAVP
RNS Number : 4020U
Savannah Petroleum PLC
29 March 2019
29 March 2019
Savannah Petroleum PLC
("Savannah" or "the Company")
Seven Energy Transaction Update
Savannah Petroleum PLC, the British independent oil & gas
company focused around activities in Niger and Nigeria, this
morning announces an update on the Seven Energy Transaction (the
"Transaction").
Good progress on the remaining Transaction workstreams
continues. Following the completion of the recent Nigerian election
process, the Company remains confident that Ministerial Consent
will be forthcoming shortly. Savannah now expects that the
Transaction will complete during Q2 2019, and the publication of a
Supplemental Admission Document will follow in due course. Further
updates relating to the Transaction will be published as
appropriate.
Unless otherwise defined, capitalised terms are per the
Company's Admission Document dated 22 December 2017.
For further information contact:
Savannah Petroleum +44 (0) 20 3817 9844
Andrew Knott, CEO
Isatou Semega-Janneh, CFO
Jessica Ross, VP Corporate Affairs
Strand Hanson (Nominated Adviser) +44 (0) 20 7409 3494
Rory Murphy
James Spinney
Ritchie Balmer
Mirabaud (Joint Broker) +44 (0) 20 7878 3362
Peter Krens
Ed Haig-Thomas
Hannam & Partners (Joint Broker) +44 (0) 20 7907 8500
Neil Passmore
Alejandro Demichelis
Hamish Clegg
Celicourt Communications +44 (0) 20 7520 9266
Mark Antelme
Jimmy Lea
Ollie Mills
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.
Notes to Editors:
About Savannah Petroleum
Savannah Petroleum PLC is an AIM listed oil and gas company with
exploration and production assets in Niger and Nigeria. Savannah's
flagship assets include the R1/R2 and R3/R4 PSCs, which cover c.50%
of the highly prospective Agadem Rift Basin ("ARB") of South East
Niger, acquired in 2014/15. The Company is in the process of
acquiring interests in the cash flow generative Uquo and Stubb
Creek oil and gas fields and an interest in the Accugas midstream
business in South East Nigeria from Seven Energy.
Further information on Savannah Petroleum PLC can be found on
the Company's website:
http://www.savannah-petroleum.com/en/index.php
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.
END
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