Business
Capital Markets Event and Operational Update
Capital Markets Event and Operational Update.
About this update from Savannah Energy Plc
[{"type":"text","content":"\n \nRNS Number : 4439H Savannah Petroleum PLC 07 June 2017 \n\n7 June 2017\nSavannah Petroleum PLC\n(\"Savannah\" or the \"Company\")\n \nCapital Markets Event and Operational Update\n \nSavannah Petroleum PLC (\"Savannah\") is pleased to announce that it is hosting a capital markets event for analysts and investors at its offices in London.\n\nToday, presentations will be given by Savannah's management and operational team, and will include the following highlights:\n \n· R3 East 3D seismic survey (\"R3 East\") was safely completed with no lost-time injury (\"LTI\"), US$1.2m under budget and ahead of time;\n· Interpretation of the R3 East survey has confirmed the previously identified Bushiya and Kunama structures, as well as a significant number of additional new structures, including Amdigh;\n· Bushiya and Amdigh confirmed as the first two wells in Savannah's upcoming three firm well exploration drilling campaign;\n· The third firm well is to be either Kunama or Eridal, subject to review of Pre-Stack Time Migrated (\"PSTM\") seismic volumes which are due to be received shortly;\n· Six further optional drilling targets will be discussed, located in the R3 Central and R1 3D areas;\n· Discussion of additional, newly identified upside resource potential in an Upper Sokor stratigraphic play and a range of Cretaceous plays;\n· Bushiya to spud in August 2017 following rig upgrades being carried out on GW215 by Great Wall Drilling Company Niger SARL (\"GWDC\").\n \nAside from what is outlined above, no new material information is expected to be disclosed. An updated presentation will shortly be uploaded to the Company's website (www.savannah-petroleum.com).\n \nR3 East 3D Seismic Survey\n \nThe Company's R3 East 3D seismic survey (the \"R3 East Area\") was completed in January 2017, approximately US$1.2m under budget and in 90 recording days, 25 fewer than planned. Operations were strictly monitored by Savannah's project management team, resulting in a zero LTI performance. The data acquired are of excellent quality, and processing and interpretation of these has been ongoi...