Update on Loan Facility

RNS Number : 3480F

Savannah Petroleum PLC

06 March 2020

 

6 March 2020

Savannah Petroleum PLC

("Savannah" or "the Company")

Update on Loan Facility

Further to the Company's announcement on 18 October 2019 (the "RNS"), the Company announces that the Maturity Date of the Facility (which is no longer considered material to the Company) was amended to be 6 June 2020. The Facility is expected to be repaid in full from the Company's cash resources prior to expiry.

Capitalised terms have the same meaning as set out in the RNS.

For further information contact:
Savannah Petroleum	[phone]
Andrew Knott, CEO
Isatou Semega-Janneh, CFO
Jessica Ross, VP Corporate Affairs
Strand Hanson (Nominated Adviser)	[phone]
Rory Murphy
James Spinney
Ritchie Balmer
Mirabaud (Joint Broker)	[phone]
Peter Krens
Ed Haig-Thomas
Numis Securities (Joint Broker)	[phone]
John Prior
Emily Morris
Alamgir Ahmed
Jefferies International Limited (Joint Broker)	[phone]
Tony White
Will Soutar
Celicourt Communications	[phone]
Mark Antelme
Jimmy Lea Ollie Mills

Notes to Editors:

About Savannah Petroleum

Savannah Petroleum PLC is an AIM listed oil and gas company with exploration and production assets in Niger and Nigeria. Savannah's flagship assets include the R1/R2 and R3/R4 PSCs (which cover c.50% of the highly prospective Agadem Rift Basin ("ARB") of South East Niger) and acquired interests in the cash flow generative Uquo and Stubb Creek oil and gas fields and the Accugas midstream gas business in South East Nigeria.

Further information on Savannah Petroleum PLC can be found on the Company's website: http://www.savannah-petroleum.com/en/index.php

 

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NRAUNOBRROUORAR