Savannah Petroleum PLC Spud of Kunama-1 Well, Niger (2088S)

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RNS Number : 2088S

Savannah Petroleum PLC

22 June 2018

Savannah Petroleum PLC

("Savannah" or "the Company")

Spud of Kunama-1 Well, Niger

Savannah Petroleum PLC, the West African focused British independent oil and gas company, this morning announces that the third well in its current Niger drilling campaign, Kunama-1, was spudded on 21 June 2018. Kunama-1 is located on the R3 portion of the R3/R4 PSC Area in the Agadem Basin, south east Niger.

As with the other wells in this campaign, Kunama-1 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 Kunama of 35 mmbbls.

Drilling is expected to take c.30-35 days, using Rig GW-215. The well is planned to be drilled to a total depth of 2,442 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: 
 Savannah Petroleum                       +44 (0) 20 3817 9844 
 Andrew Knott, CEO 
 Isatou Semega-Janneh, CFO 
 Jessica Hostage, VP Corporate Affairs 
 
 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 
 Ed Haig-Thomas 
 
 Hannam & Partners (Joint Broker)         +44 (0) 20 7907 8500 
 Neil Passmore 
  Alejandro Demichelis 
 Sam Merlin 
 
 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 news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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