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.
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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 (Broker) |
+44 (0) 20 7878 3362 |
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Peter Krens |
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Rory Scott |
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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