Last checked at 13 Dec 2022 18:00
13 December 2022
Savannah Energy PLC
("Savannah", the "Company" or the "Group")
Termination of SPA for PETRONAS' Chad and Cameroon portfolio
On 13 December 2021, Savannah announced that it had entered into a Share Purchase Agreement ("SPA") with PETRONAS (E&P) Overseas Ventures SDN. BHD. ("PETRONAS") to acquire PETRONAS' upstream and midstream asset portfolio in Chad and Cameroon. Completion of the proposed acquisition remained subject to satisfaction of certain conditions precedent which have not yet been satisfied, and Savannah and PETRONAS have, therefore, mutually agreed to terminate the SPA with immediate effect.
For further information, please contact:
Savannah Energy | +44 (0) 20 3817 9844 | |
Andrew Knott, CEO |
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Nick Beattie, CFO |
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Sally Marshak, Head of IR & Communications |
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Strand Hanson (Nominated Adviser) | +44 (0) 20 7409 3494 | |
James Spinney |
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Ritchie Balmer |
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Rob Patrick | ||
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finnCap Ltd (Joint Broker) Christopher Raggett Tim Redfern | +44 (0) 20 7220 0500 | |
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Panmure Gordon (UK) Ltd (Joint Broker) John Prior Hugh Rich | +44 (0) 20 7886 2500 |
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Camarco | +44 (0) 20 3757 4983 | |
Billy Clegg Owen Roberts Violet Wilson |
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This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR").
About Savannah Energy:
Savannah Energy PLC is an AIM quoted British independent energy company focused around the delivery of Projects that Matter in Africa, active in Cameroon, Chad, Niger and Nigeria.
Further information on Savannah Energy PLC can be found on the Company's website: www.savannah-energy.com.