Spud of Kunama-1 Well, Niger

RNS Number : 2088S

Savannah Petroleum PLC

22 June 2018

 

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	[phone]
Andrew Knott, CEO
Isatou Semega-Janneh, CFO
Jessica Hostage, VP Corporate Affairs
Strand Hanson (Nominated Adviser)	[phone]
Rory Murphy
James Spinney
Ritchie Balmer
Mirabaud (Joint Broker)	[phone]
Peter Krens
Ed Haig-Thomas
Hannam & Partners (Joint Broker)	[phone]
Neil Passmore Alejandro Demichelis
Sam Merlin
Celicourt Communications	[phone]
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.

 

END

 

 

STRBRGDLSSDBGIB