Savannah Energy has paid down $40 million of debt as of the end of March as a result of its Nigerian gas supply business.
The Nigerian economy has a gas distribution and power generation problem. African Infrastructure Investment Managers (AIIM) is playing a part to tackle this, through its investment alongside Savannah Petroleum in assets previously owned by Seven Energy.
Savannah Petroleum expects to generate free cash flow of around $130 million per year from its recently acquired Nigerian assets, based on calculations from CGG Services.
It has been a long time coming, but Savannah Petroleum has completed its acquisition of Seven Energy, broadening its focus from Nigerien exploration to including Nigerian production.
China National Petroleum Corp. (CNPC) signed a transportation convention with Niger on September 15.
Savannah Petroleum has signed a memorandum of understanding (MOU) with Niger relating to an early production scheme (EPS) in the Agadem Rift Basin
UK independent oil firm Savannah Petroleum is celebrating its third consecutive discovery in its maiden exploration campaign on a block in Niger.
West-Africa-focused Savannah Petroleum has appointed former BP manager David Clarkson as its chief operating officer.
UK oil and gas firm Savannah Petroleum has announced an oil discovery in the Agadem Rift Basin, south east Niger.
Africa-focused Savannah Petroleum said today it had booked its rig-of-choice for its onshore drilling campaign in Niger.
Africa-focused Savannah Petroleum said today that a last minute rig switch had boosted its onshore drilling campaign in Niger.
Savannah Petroleum has successfully raised $40million.
Savannah Petroleum has suspended its shares from the Alternative Investment Market.
Savannah Petroleum has signed a production sharing contract with the Niger government for the R3/R4 license area.
Savannah Petroleum has raised $36million after placing more than 61million shares at a value of 38 pence each. The Niger focused oil and gas firm said an estimated 17,136,000 of these placing shares will be subscribed directly within the company. The placing shares represent 47% of the company’s existing ordinary share capital and will be issued in two tranches.
Savannah Petroleum has revealed increased potential prospective oil resources in the company's Niger assets.