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Investegate |Independent Oil &Gas Announcements | Independent Oil &Gas: Goddard and Abbeydale Area Technical Update

Investegate |Independent Oil &Gas Announcements | Independent Oil &Gas: Goddard and Abbeydale Area Technical Update
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Oil price, IOG, Union Jack, Zephyr. And finally…

Oil price, IOG, Union Jack, Zephyr. And finally…
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UK: Independent Oil and Gas Goddard and Abbeydale Area technical update

UK: Independent Oil and Gas Goddard and Abbeydale Area technical update
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Financial and Operational Update, 22 Dec 2020 01:00

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 ....

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