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Savannah Petroleum continues 100% success record with Niger discovery

Wed, 15th Aug 2018 09:47

(Sharecast News) - British independent oil and gas company Savannah Petroleum on Wednesday made a new oil discovery through its Eridal-1 exploration well in the Agadem Rift Basin, South East Niger.The well encountered around 13.6m of net oil-bearing reservoir sandstones in what is the fourth consecutive discovery that Savannah had made in its ongoing exploration campaign in the R3 portion of the region in Niger.Andrew Knott, chief executive of Savannah, said: "We are excited with the success we have delivered to date in Niger. Eridal-1 maintains our 100% exploration success record and marks our fourth discovery in the R3 East Area."The discovery's reservoir properties are indicated to be of a good quality by wireline logs, while light oil consistent with the AIM traded company's previous discoveries has been projected through the available data."What was different about Eridal-1 was that we were targeting a structure which had previously been drilled in a down-dip location by a previous operator. Our technical team had a strong view that significant potential existed up-dip and selected the Eridal-1 well accordingly. We believe this has contributed meaningful oil resource additions to support the development of our proposed EPS," said KnottEridal-1 is currently being suspended for future re-entry, with a well testing programme planned for later in the year.Following the sustained successful results, Savannah said it will now mobilise Great Wall Drilling Company Niger's rig to the Zomo-1 well site and has elected to exercise the second of the six individual options it has under contract with the drilling firm.Subsequently, Savannah will continue to have options for a further four wells, each of which can be exercised individually at its discretion.Savannah's shares were up 1.17% at 26.00p at 0948 BST.

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8 Aug 2018 14:52

Savannah Petroleum signs binding memorandum with Niger government

(Sharecast News) - Oil and gas company Savannah Petroleum announced the signature of a legally-binding memorandum of understanding (MoU) between its Niger subsidiary, Savannah Niger, and the Republic of Niger on Wednesday.

8 Aug 2018 12:35

Savannah Petroleum Signs MOU With Niger's Government

LONDON (Alliance News) - Savannah Petroleum PLC said Wednesday it has signed a memorandum of understanding with the Republic of Niger for an early production scheme at the Agadem Rift to the the -

30 Jul 2018 12:41

Savannah Petroleum Spuds Fourth Well In Drilling Campaign In Niger

LONDON (Alliance News) - West Africa-focused oil & gas company Savannah Petroleum PLC said Monday it has spud its fourth well in its Niger drilling campaign.As with the other wells in a

18 Jun 2018 12:59

Savannah Petroleum Appoints Former BP Executive David Clarkson As COO

LONDON (Alliance News) - West Africa-focused oil and gas company Savannah Petroleum PLC said on Monday it has appointed Non-Executive Director David Clarkson as chief operating officer.He a

8 May 2018 18:31

Oil Explorer Savannah Petroleum Spuds Amdigh-1 Well In Niger

LONDON (Alliance News) - Oil and gas company Savannah Petroleum PLC said Tuesday that it has spudded Amdigh-1 well located in the R3/R4 PSC area in the Agadem Basin, south east Niger.The of

3 May 2018 12:54

Savannah Petroleum Gets Extension To Production Sharing Deal In Niger

LONDON (Alliance News) - Savannah Petroleum PLC on Thursday said it has secured a one year extension to its R1/R2 production sharing contract with the government of Niger.The oil & gas

26 Apr 2018 16:27

UK Shareholder Meetings Calendar - Next 7 Days

Friday 27 April RotorkUltra Electronics HoldingsTravis PerkinsMerlin China 30 of

23 Apr 2018 10:51

Savannah Petroleum Discovers Oil In Bushiya, Plans To Spud Amdigh-1

LONDON (Alliance News) - UK oil and gas company Savannah Petroleum PLC said on Monday that the Bushiya-1 exploration well in Niger encountered ten metres of net oil-bearing reservoir sandstones in

3 Apr 2018 13:17

Savannah Petroluem Spuds First Well In Agadem Rift Programme

LONDON (Alliance News) - Savannah Petroleum PLC said Tuesday it has spudded the first of three wells in its drilling programme in the Agadem Rift basin in south-eastern has on

23 Mar 2018 12:09

Savannah Petroleum Annual Loss Widens Due To Seven Energy Deal Costs

LONDON (Alliance News) - Oil firm Savannah Petroleum PLC said on Friday its loss widened in 2017 as operating expenses increased due to exceptional costs associated with its a

12 Mar 2018 13:38

Savannah Petroleum Completes Well Pad Ahead Of Niger Drilling Campaign

LONDON (Alliance News) - Oil and gas company Savannah Petroleum PLC said on Monday that ahead of its drilling on the R3/R4 Production Sharing Contract area in Agadem Basin, of

24 Jan 2017 11:35

Savannah completes 3D acquisition early at R3

(ShareCast News) - Savannah Petroleum announced the completion of 3D seismic acquisition over an 800 square kilometre portion of the R3 license area on Tuesday, approximately two weeks ahead of schedule and on budget. The AIM-traded company said the data acquired will now be processed and interprete

27 Jul 2016 09:07

Savannah Petroleum Progresses Toward Seismic Survey For Niger Site

8 Jul 2016 15:58

Savannah Petroleum Managers Subscribe For 1.4 Million Shares (ALLISS)

8 Jul 2016 12:24

Savannah Petroleum share suspension lifted after $40m placing

(ShareCast News) - Shares in Savannah Petroleum are up a tickle less than 40% as a temporary suspension on the outfit's shares dating from January was lifted a day after its oversubscribed $40m placing. "This (placing) is a strong endorsement of our strategy and ensures we are funded to move the ass

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