Energy Producers
By Andrew Schonberg
Date: Wednesday 15 Mar 2017
LONDON (ShareCast) - (ShareCast News) - Savannah Petroleum's shares have soared by almost a fifth after confirming its drilling operations in Niger are expected to begin during the first half of the year.
The company said it had signed a letter of award with Great Wall Drilling Company Niger SARL for GWDC Rig 89, this providing for a programme of three firm wells, and including options for a further six wells at Savannah's discretion.
"The rig is already in Niger, and drilling operations are expected to commence during the first half of this year," the company said in a statement.
Savannah also said purchase orders had been issued for certain well-related long-lead items (including casing and wellheads), which were required for its upcoming drilling campaign in the Agadem Rift Basin onshore Niger.
At 14:06 GMT, shares in AIM-listed Savannah were up 17.09% to 34.25p each.
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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 | 1,312.19m |
Market Cap | £344.45m |
RiskGrade | 340 |
Value |
---|
Value |
---|
Income |
---|
Growth |
---|
Strong Buy | 0 |
Buy | 1 |
Neutral | 0 |
Sell | 0 |
Strong Sell | 0 |
Total | 1 |
No dividends found |
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