Savannah Energy (SAVE)

Sector:

Energy Producers

Index:

FTSE AIM 50

 26.25p
   
  • Closing Price Chg:
      0.000p
  • 52 Week High: 40.20
  • 52 Week Low: 19.35
  • Currency: UK Pounds
  • Shares Issued: 1,306.10m
  • Volume: 0
  • Market Cap: £342.85m
  • RiskGrade: 340

Savannah Petroleum share suspension lifted after $40m placing

By Andrew Schonberg

Date: Friday 08 Jul 2016

LONDON (ShareCast) - (ShareCast News) - Shares in Savannah Petroleum are up a tickle less than 40% as a temporary suspension on the outfit's shares dating from January was lifted a day after its oversubscribed $40m placing.
"This (placing) is a strong endorsement of our strategy and ensures we are funded to move the assets to the next level of value creation," said chief executive Andrew Knott.

"From here we can now look forward to the imminent recommencement of ground operations with the 3D seismic programme at R3, which will in turn help us maximize the chances of a successful drilling campaign in 2017."

The oil and gas company raised the money via a placing of about 79.8m shares at 38p each.

Niger-focused Savannah requested the suspension in January when it entered a non-binding heads of terms regarding a potential deal, which, if completed, would have been a reverse takeover.

"The board confirms that all discussions on the potential transaction have now been terminated and, in the near term," Savannah said in a statement.

"The company's focus will be on developing and maximising the value of its existing assets."

At 12:16 BST, shares in Savannah Petroleum were up 39.68% to 33p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Savannah Energy Market Data

Currency UK Pounds
Share Price 26.25p
Closing Price Change 0.000p
% Change 0.00 %
52 Week High 40.20
52 Week Low 19.35
Volume 0
Shares Issued 1,306.10m
Market Cap £342.85m
RiskGrade 340

Savannah Energy Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
51.58% below the market average51.58% below the market average51.58% below the market average51.58% below the market average51.58% below the market average
11.11% below the sector average11.11% below the sector average11.11% below the sector average11.11% below the sector average11.11% below the sector average
Value
51.58% below the market average51.58% below the market average51.58% below the market average51.58% below the market average51.58% below the market average
11.11% below the sector average11.11% below the sector average11.11% below the sector average11.11% below the sector average11.11% below the sector average
Income Not Available
Growth
14.02% above the market average14.02% above the market average14.02% above the market average14.02% above the market average14.02% above the market average
13.73% above the sector average13.73% above the sector average13.73% above the sector average13.73% above the sector average13.73% above the sector average

What The Brokers Say

Strong Buy 0
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 1
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Savannah Energy Dividends

No dividends found

Trades for --2023

Time Volume / Share Price
0 @ 0.000p

Savannah Energy Key Personnel

CEO Andrew Knott

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