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RNS Number: 2634 A Savannah Energy Plc 28 May 2021 28 May 2021. Savannah Energy PLC, the African-focused British independent energy company sustainably. ....
FY 2020 Preliminary Annual Results Savannah Energy PLC ( Savannah or the Company ), the African-focused British independent energy company sustainably developing high quality, high potential energy projects in Nigeria and Niger, is pleased to announce its unaudited preliminary results for the year ended 31 December 2020. A copy of the Annual Report and Accounts will be finalised and posted to Shareholders shortly and a separate notification made in this regard. Andrew Knott, CEO of Savannah Energy, said:
2020 represented our first full year of ownership since the completion of the acquisition of our Nigerian assets and our financial results show just how transformational the acquisition has been for Savannah. Against a challenging backdrop, we recorded a robust financial and operating performance. We beat all of our original financial guidance metrics. Total Revenues[1] and cash collections rose for th ....
Savannah Energy PLC is an AIM market listed African-focused British independent energy company sustainably developing high quality, high potential energy projects in Nigeria and Niger, with a focus on delivering material long term returns for stakeholders. In Nigeria, the Company has controlling interests in the cash flow generative Uquo and Stubb Creek oil and gas fields, and the Accugas midstream business in South East Nigeria, which provides gas to over 10% of Nigeria s available power generation capacity. In Niger, the Company has interests in two large PSC areas located in the highly oil prolific Agadem Rift Basin of South East Niger, where the Company has made five oil discoveries and seismically identified a large exploration prospect inventory, consisting of 146 exploration targets to be considered for potential future drilling activity. ....
Savannah Energy PLC ( Savannah or the Company ), the African-focused British independent energy company sustainably developing high quality, high potential energy projects in Nigeria and Niger, is pleased to provide a financial and operational update for the 11-month year-to-date period ended 30 November 2020. The Company is also pleased to announce that its Accugas subsidiary has entered into a revised gas sales agreement ( GSA ) on favourable terms with Lafarge Africa PLC, part of the LafargeHolcim Group, for the supply of gas to its Mfamosing cement plant in Cross River State, Nigeria.
Taking into account the challenging market conditions in 2020, I am pleased with the way the Savannah team and the wider Group has performed. Today, we are reiterating our Total Revenues guidance, reducing our cost guidance by US$25m and are set to deliver record Nigerian cash collections and production volumes in 2020. The deal with Lafarge Africa is also a significan ....