8 May 2018 07:00
8 May 2018
Savannah Petroleum PLC
("Savannah" or "the Company")
Spud of Amdigh-1 Well, Niger
Savannah Petroleum PLC this morning announces that the second well in its three well Niger drilling campaign, Amdigh-1, was spudded on 6 May 2018. Amdigh-1 is located on the R3 portion of the R3/R4 PSC Area in the Agadem Basin, south east Niger.
As with Bushiya-1, the well is designed to evaluate potential oil pay in the Eocene Sokor Alternances as the primary target, with the secondary target of potential oil pay in the Eocene Upper Sokor being considered as upside. Savannah's competent person, CGG Robertson ("CGG"), has assessed total mean unrisked recoverable resources at Amdigh of 39 mmbbls.
Drilling is expected to take c.30-35 days, using Rig GW-215, and the well design is deviated to reach all desired sub-surface objectives. It is planned to be drilled to a total depth of 2,576 metres. The Company plans to log all prospective sections within the well, with further logging employed for hydrocarbon bearing sections. In the success case, the well will be suspended for future re-entry and further evaluation, which could include well testing and completion using a dedicated testing/workover rig.
The Company intends to announce the final well results after the end of drilling and logging operations.
For further information contact:
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Savannah Petroleum | +44 (0) 20 3817 9844 |
Andrew Knott, CEO |
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Isatou Semega-Janneh, CFO |
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Jessica Hostage, VP Corporate Affairs |
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Strand Hanson (Nominated Adviser) | +44 (0) 20 7409 3494 |
Rory Murphy |
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James Spinney |
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Ritchie Balmer |
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Mirabaud (Joint Broker) | +44 (0) 20 7878 3362 |
Peter Krens |
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Ed Haig-Thomas |
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Hannam & Partners (Joint Broker) | +44 (0) 20 7907 8500 |
Neil Passmore Alejandro Demichelis |
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Sam Merlin |
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Celicourt Communications | +44 (0) 20 7520 9266 |
Mark Antelme |
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Jimmy Lea |
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The information contained within this announcement is considered to be inside information prior to its release, as defined in Article 7 of the Market Abuse Regulation No. 596/2014, and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.