Signature of Seismic Call-Off Order

RNS Number : 3029F

Savannah Petroleum PLC

27 July 2016

 

27 July 2016

Savannah Petroleum PLC

("Savannah" or the "Company")

Signature of Seismic Call-Off Order

Savannah Petroleum PLC ("Savannah") is pleased to announce the signature by one of its subsidiaries of a call-off order ("Call Off") under the previously signed framework contract for seismic acquisition services with BGP Niger SARL ("BGP").

The Call Off provides for the acquisition of c.800km² of 3D seismic data over part of the Company's R3 license area in south east Niger. The data acquired will provide enhanced definition over 12 existing mapped exploration targets ("Targets"), identified on Savannah's existing 2D seismic dataset. The Targets themselves incorporate stacked traps at multiple play levels (the Oligocene Upper Sokor, the Eocene Sokor Alternances and the Upper Cretaceous Yogou formations) which may be evaluated in single exploration wells. In addition, the historical application of 3D seismic in this basin clearly demonstrates that additional Targets tend to be added to the portfolio through the additional coverage that the data provide.

Mobilisation of crew and equipment is expected to commence shortly, and further updates will be provided as appropriate.

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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