8 May 2017
Savannah Petroleum PLC
("Savannah" or the "Company")
Signature of Drilling Contracts
Savannah Petroleum PLC ("Savannah") is pleased to announce the signature by one of its subsidiaries of a formal rig contract with Great Wall Drilling Company Niger SARL ("GWDC") for Rig GWDC 215. As announced at the time of the Letter of Award signature, the contract provides for a programme of three firm wells, and includes options for a further six wells which can be exercised individually at Savannah's discretion.
The Company is also pleased to announce the signature of other contracts with GWDC for ancillary drilling services, including cementing, drilling fluids, tubular running, mudlogging and wireline logging.
Andrew Knott, CEO of Savannah Petroleum, said:
"The signature of these agreements with our contracting partner GWDC represents a key milestone towards the commencement of our drilling campaign in the R3 area, which we look forward to with great anticipation. We expect to provide significant further details in relation to our drilling plans and forward strategy at our Capital Markets Event in London on 7 June 2017."
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For further information contact: |
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Savannah Petroleum |
+44 (0) 20 3817 9844 |
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Andrew Knott, CEO |
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Jessica Hostage, Corporate Communications |
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Strand Hanson (Nominated Adviser) |
+44 (0) 20 7409 3494 |
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Rory Murphy |
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James Spinney |
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Ritchie Balmer |
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Mirabaud (Joint Broker) |
+44 (0) 20 7878 3362 |
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Peter Krens |
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Rory Scott |
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Stifel Nicolaus Europe Limited (Joint Broker) |
+44 (0) 20 7710 7600 |
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Callum Stewart Nicholas Rhodes |
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Ashton Clanfield |
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Celicourt Communications |
+44 (0) 20 7520 9266 |
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Mark Antelme |
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Jimmy Lea |
This information is provided by RNS