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Pin to quick picksSavannah Energy Share News (SAVE)

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CORRECT (Dec 09): Savannah Energy completes Exxon Mobil acquisition

Tue, 13th Dec 2022 11:01

(Correcting that the Exxon Mobil portfolio acquisition was completed by Savannah Energy PLC.)

(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
20 Dec 2022 09:31

Savannah Energy lifts full-year revenue guidance

(Sharecast News) - Africa-focussed Savannah Energy updated the market on its year-to-date financials and operations on Tuesday, reporting that total revenue was ahead 27% year-on-year for the 11 months ended 30 November, at $256.7m.

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13 Dec 2022 20:38

TRADING UPDATES: Savannah Energy ends deal; Plaza signs addendum

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

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13 Dec 2022 16:50

TRADING UPDATES: Longboat Energy extends loan for drilling programme

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

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12 Dec 2022 12:23

Savannah Energy to buy Petronas's South Sudan unit for USD1.25 billion

(Alliance News) - Savannah Energy PLC on Monday said it entered into a share purchase agreement with Petronas International Corp Ltd to buy the company's oil and gas business in South Sudan for USD1.25 billion.

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12 Dec 2022 09:35

Savannah to spend $1.25bn on Petronas assets in South Sudan

(Sharecast News) - Africa-focussed Savannah Energy has entered into a share purchase agreement with Petronas International, it announced on Monday, to acquire Petronas' entire oil and gas business in South Sudan through the acquisition of Petronas Carigali Nile (PCNL) for up to $1.25bn in cash.

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7 Dec 2022 21:25

TRADING UPDATES: Ryanair extends CEO contract; Sovereign eye demerger

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

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4 Oct 2022 14:31

IN BRIEF: Savannah Energy swings to interim loss as revenue drops

Savannah Energy PLC - Africa-focused energy company - Last Friday reported swing to half-year loss. In the six months ended June 30, swings to interim pretax loss of USD11.3 million from a profit of USD7.7 million a year prior. Revenue falls 14% to USD85.8 million from USD99.4 million. Administrative expenses widen 23% to USD11.7 million from USD9.5 million.

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16 Aug 2022 14:38

Savannah Energy subsidiary enters gas sales agreement

(Sharecast News) - Africa-focussed Savannah Energy announced on Tuesday that its 80% indirectly-owned subsidiary Accugas has entered into a new gas sales agreement with Notore Chemical Industries.

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16 Aug 2022 14:10

IN BRIEF: Savannah Energy subsidiary Accugas signs gas sales agreement

Savannah Energy PLC - Africa-focused energy company - 80% indirectly owned subsidiary Accugas Ltd enters new gas sales agreement with Notore Chemical Industries PLC. Accugas will supply Notore with up to 10 million standard cubic feet of gas per day to augment its current supplies. Adds that no further capital expenditure is required by Accugas to deliver gas to Notore. "The contracted supply is on an interruptible and reasonable endeavours basis, based on gas availability and nominations, for an initial term of one year, with the option to extend for a mutually agreed period," Savannah explains.

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28 Jun 2022 10:05

Savannah Energy makes first gas sales to TransAfam's Nigerian power plants

(Sharecast News) - Independent energy company Savannah Energy's Accugas subsidiary has made its first gas sales to TransAfam Power in relation to the provision of gas for use at its power plants in Nigeria.

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28 Jun 2022 09:55

Savannah Energy subsidiary commences further gas sales in Nigeria

(Alliance News) - Savannah Energy PLC on Tuesday said its 80%-owned subsidiary, Accugas Ltd, has commenced gas sales to TransAfam Power Ltd in Nigeria.

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27 Jun 2022 14:15

IN BRIEF: Savannah Energy subsidiary Accugas starts first gas sales

Savannah Energy PLC - Africa-focused energy company - Says its 80% indirectly owned subsidiary Accugas Ltd has started first gas sales to Central Horizon Gas company Ltd. Savannah says CHGC operates a 17-kilometre gas pipeline infrastructure network with a throughput capacity of 50 million standard cubic feet per day. It provides natural gas to industrial and commercial customers in the Trans Amadi Industrial Area of Port Harcourt and the Greater Port Harcourt Area in Nigeria.

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22 Jun 2022 19:39

TRADING UPDATES: Vertu margins remain strong; Donegal behind

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

Read more
22 Jun 2022 09:23

Savannah starts gas sales to Trans Amadi plant in Nigeria

(Sharecast News) - Savannah Energy announced on Wednesday that its 80%-owned subsidiary Accugas has started gas sales to First Independent Power Limited's (FIPL) Trans Amadi power plant in Port-Harcourt, Nigeria.

Read more

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