Savannah Petroleum PLC Operational Update (4843Z)
March 15 2017 - 3:01AM
UK Regulatory
TIDMSAVP
RNS Number : 4843Z
Savannah Petroleum PLC
15 March 2017
15 March 2017
Savannah Petroleum PLC
("Savannah" or the "Company")
Operational Update
Savannah Petroleum PLC ("Savannah") is pleased to provide an
update on its operations in Niger.
Drilling Rig Letter of Award and Order of Long Lead Items
The Company confirms that it has signed a Letter of Award
("Letter" or "LoA") with Great Wall Drilling Company Niger SARL for
GWDC Rig 89. The Letter provides for a programme of three firm
wells, and includes options for a further six wells which can be
exercised at Savannah's discretion. The rig is already in Niger,
and drilling operations are expected to commence during the first
half of this year.
Savannah is also pleased to announce that purchase orders have
been issued for certain well-related long lead items (including
casing and wellheads) which are required for its upcoming drilling
campaign in the Agadem Rift Basin onshore Niger.
Further details in relation to the drilling programme will be
announced in due course.
R3 3D Seismic Acquisition
Following the completion of 3D seismic acquisition over a
c.800km(2) portion of the R3 license area, demobilisation of the
camp and crew has now concluded. Processing is ongoing, with
excellent data quality, and fast track results are expected by the
end of Q1 2017.
For further information contact:
Savannah Petroleum +44 (0) 20 3817 9844
Andrew Knott, CEO
Jessica Hostage, Corporate
Communications
Strand Hanson (Nominated Adviser) +44 (0) 20 7409 3494
Rory Murphy
James Spinney
Ritchie Balmer
Mirabaud (Joint Broker) +44 (0) 20 7878 3362
Peter Krens
Rory Scott
Stifel Nicolaus Europe Limited
(Joint Broker) +44 (0) 20 7710 7600
Callum Stewart
Nicholas Rhodes
Ashton Clanfield
Celicourt Communications +44 (0) 20 7520 9266
Mark Antelme
Jimmy Lea
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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