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Pin to quick picksSavannah Resources Share News (SAV)

Share Price Information for Savannah Resources (SAV)

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Share Price: 4.45
Bid: 4.30
Ask: 4.60
Change: 0.50 (12.66%)
Spread: 0.30 (6.977%)
Open: 4.50
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Low: 4.40
Prev. Close: 3.95
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CORRECT (Dec 09): Savannah Energy completes Exxon Mobil acquisition

Tue, 13th Dec 2022 11:22

(Correcting that the Exxon Mobil portfolio acquisition was completed by Savannah Energy, not Savannah Resources.)

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

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Savannah Energy PLC - Africa-focused energy company - Completes its USD407 million acquisition of US oil major Exxon Mobil Corp's entire upstream and midstream asset portfolio in Chad and Cameroon. The acquisition includes the operatorship of the upstream assets through the acquisition of the former operator, Esso Exploration & Production Chad Inc. Following completion, Savannah will own a 40% interest in the Doba oil project and a 40% indirect interest in the Chad-Cameroon export transportation system.

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Amaroq Minerals Ltd - Greenland-focused mine development company - Reports market-making arrangements with Arion Banki HF and Landsbankinn HF to provide market-making services in respect of the firm's Icelandic depositary receipts listed on the Nasdaq First North Growth Market in Iceland.

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SLF Realisation Fund Ltd - realising all remaining assets in portfolio of ordinary share class and 2016 C share class - Director Brett Miller buys 2 million shares in the firm for a total of GBP130,990 on Friday.

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Enwell Energy PLC - London-based oil and gas exploration company - Says regulatory action within Ukraine is affecting a major indirect shareholder of the firm, Vadym Novynskyi. Says that it is investigating the situation and consulting with its adviser. Adds that the company's legal analysis is that the restrictive measures imposed are directed at name individuals and not any other legal entities, and are applicable solely within Ukraine. As a result, firm says the restrictive measures are not director at the company. Says it will continue to monitor the situation.

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Vaalco Energy Inc - Houston, Texas-based hydrocarbon explorer - Says the North Tchibala 2H-ST well in Gabon was brought online in early November and flowed at a "low, controlled rate" to allow for clean-up. Says that through early December, the well has flowed with temporary interruptions for operations activity and shut-ins. Produces about 8,000 gross barrels or oil, or 275 gross barrels of oil per day. Adds that post-fac modelling suggests the well is capable of producing rates at or above 1,500 gross barrels of oil per day. In Egypt, firm expects to spud its first horizontal well on December 12. In Canada tie in of the 4-10 well is expected in late December, with an anticipated flow rate of 200 barrels of oil equivalent per day before year-end. Also completes construction on the 14-25-29-04W5 surface lease, with drilling expected to start in January.

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By Heather Rydings, Alliance News senior economics reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2022 Alliance News Ltd. All Rights Reserved.

More News
12 Jun 2023 10:16

Savannah Resources hails net present value of Barroso lithium project

(Alliance News) - Savannah Resources PLC on Monday announced results from a new scoping study on its Barroso lithium project in northern Portugal.

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31 May 2023 11:37

IN BRIEF: Savannah shares soar as hails milestone for Barroso mine

Savannah Resources PLC - London-based lithium development company - Receives positive declaration of environmental impact from the Portuguese environmental regulator, Agencia Portuguesa do Ambiente, for its wholly owned Barroso lithium project in northern Portugal. Adds, it has agreed to the set of conditions issued alongside the declaration to ensure the project is "developed and operated in a socially and environmentally responsible way." Says project can now progress to the next stage of its environmental licensing process. Expects to publish a new scoping study in the second half of 2023 and will move forward with its definitive feasibility study, which includes carrying out fieldwork later in the year. Savannah has been in talks with APA in the last few months over Barroso's environmental impact assessment. Based on feedback, Savannah has focused on the management of water resources, optimisation of project-related infrastructure, ecology, socio-economic considerations and landscape impacts.

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31 May 2023 10:45

AIM WINNERS & LOSERS: Purplebricks plummets on withdrawal of offer

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.

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31 May 2023 09:18

LONDON MARKET OPEN: Stocks down on US debt ceiling jitters

(Alliance News) - Stock prices in London opened lower on Wednesday, as financial markets await a vote on the US debt ceiling agreement.

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26 May 2023 11:48

IN BRIEF: Savannah Resources notes sales of Petronas's assets

Savannah Resources PLC - London-based energy company, with projects in Cameroon, Chad, Niger and Nigeria - Gets notice from Petronas Overseas Ventures of sale of its assets to Societe des Hydrocarbures. This comes after a share purchase agreement for a wholly owned affiliate of Savannah to purchase Petronas's asset portfolio in Chad and Cameroon was terminated in December. Petronas owned 30% of Cameroon Oil Transportation Company SA, while Savannah currently holds a 41% interest in COTCO.

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21 Apr 2023 14:45

IN BRIEF: Savannah Resources strategy chief buys 1.6 million shares

Savannah Resources PLC - European lithium development company - Chief Strategy Officer Sascha Keen buys 1.6 million shares at an average price of 3.66 pence each. The shares were bought in three separate transactions on Monday, Tuesday, and Wednesday, worth GBP59,360, in London.

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20 Apr 2023 17:35

Savannah Energy to develop new hydroelectric project in Cameroon

(Alliance News) - Savannah Energy PLC said on Thursday that its subsidiary had signed a memorandum of agreement with the government of the Republic of Cameroon for the development of a new hydroelectric project in the country's northern region.

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20 Apr 2023 17:23

TRADING UPDATES: Greatland hails gold find; Capital revenue climbs

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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5 Apr 2023 16:52

IN BRIEF: Savannah Resources reports narrowed full year loss

Savannah Resources PLC - European lithium development company - Reports pretax loss from continuing operations of GBP2.7 million in 2022, narrowed from GBP3.5 million a year prior. Adds revenue was zero in the period, unchanged from 2021, while administration expenses rose to GBP3.5 million from GBP3.3 million. Highlights a foreign exchange gain of GBP0.8 million compared to GBP0.2 million. Explains should a positive decision on the project's environmental report be received from the Portuguese environmental regulator, cash reserves will carry the company into the second phase of the environmental licencing process and allow Savannah to progress the definitive feasibility study on the Barroso Lithium Project.

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3 Apr 2023 16:57

Savannah Resources says Barroso public consultation period extended

(Alliance News) - Savannah Resources PLC on Monday said it has been told by the Portuguese Environmental Agency that the public consultation period on its Barroso lithium project will be extended by a further 15 days.

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23 Mar 2023 19:36

TRADING UPDATES: Regulatory wins for Eden; Marula AIM listing progress

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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17 Mar 2023 20:15

TRADING UPDATES: Powerhouse Energy hails lease for forthcoming centre

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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17 Mar 2023 16:28

Savannah Resources upbeat on proposed EU materials regulation

(Sharecast News) - Lithium developer Savannah Resources welcomed the new Critical Raw Materials Act from the European Commission on Friday.

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23 Feb 2023 16:53

Savannah meets with Portugal environment watchdog over lithium project

(Alliance News) - Savannah Resources PLC on Thursday said it completed meetings with Portugal's environment watchdog over its Barroso lithium's project envrionmental impact assessment, and that it is on track to deliver an updated project report for March 17.

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14 Feb 2023 17:17

Savannah Resources notes Portuguese state acquitted as defendants

(Alliance News) - Savannah Resources PLC on Tuesday noted that Portugal has been acquitted as a defendant in the lawsuit brought against it by the parish of Covas do Barroso.

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