Revolving Loan Facility

RNS Number : 7681R

Savannah Petroleum PLC

14 December 2016

 

14 December 2016

Savannah Petroleum PLC

("Savannah" or the "Company")

Revolving Loan Facility

Savannah Petroleum PLC ("Savannah") is pleased to announce the signature of a new €11.4 million revolving loan facility ("the Facility") with Oragroup SA, the West and Central Africa focused banking group.

The Facility can be drawn and repaid for three years from the date of signature and is available for working capital, potential asset acquisitions and general corporate purposes.  An interest rate of 7.5% is payable on a semi-annual basis on amounts borrowed under the Facility.

For further information contact:
Savannah Petroleum	[phone]
Andrew Knott, CEO
Jessica Hostage, Corporate Communications
Strand Hanson (Nominated Adviser)	[phone]
Rory Murphy
James Spinney
Ritchie Balmer
Mirabaud (Broker)	[phone]
Peter Krens
Rory Scott
Celicourt Communications	[phone]
Mark Antelme
Jimmy Lea

 

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