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Savannah Resources losses narrow throughout 'pivotal period'

Fri, 21st Sep 2018 09:22

(Sharecast News) - Savannah Resources told investors on Friday that the first half of its trading year had been "a pivotal period" with the acceleration of its work programmes at the Mina do Barroso lithium project taking centre stage.The AIM-quoted resource development company saw losses narrow 21.5% to £1.2m in the six months ended 30 June, principally due to the continued high tempo of mine development activities at its Portuguese lithium project.Losses per share were cut from 0.31p to 0.18p.Net assets rocketed 69% year-on-year to £15.68m.Savannah strengthened its cash position throughout the half as a result of its £2.1m equity raise, and the £12.5m equity raise that followed in July. The firm's current cash position at period end was £11.4m.Savannah's chairman Matthew King, said: "2018 to-date has been a pivotal period for Savannah with the acceleration of our work programmes at the Mina do Barroso lithium Project, culminating in a highly positive scoping study on the asset and a 500%+ increase in its resource base.""The momentum created by this rapid and successful appraisal programme allowed us to complete a record £12.5m equity financing in July raised principally from existing shareholders and new institutional investors. This will provide funding for the work necessary to reach a mine development decision on the MdB Project, and to progress our projects in Mozambique and Oman."As of 0910 BST, Savannah shares were up 4.58% to 8p.

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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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