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 losses widen throughout 'very busy' first half

By Iain Gilbert

Date: Friday 28 Sep 2018

LONDON (ShareCast) - (Sharecast News) - Savannah Petroleum's net loss widened significantly during its "very busy first half".
The AIM-listed resource company saw its net loss widen 202% to $17.52m and losses per share deepen to 0.03p from the 0.02p turned in a year ago as a result of rocketing operating costs - up 223% year-on-year to $19.25m.

Savannah also successfully delivered its drilling campaign in South East Niger within budgeted time, with no lost time incidents, making two oil discoveries at Bushiya and Amdigh in the process.

The group also revealed that it had made "strong progress" on the acquisition of certain oil and gas assets in South East Nigeria from Seven Energy following the successful completion of a $125m equity placing.

Following the end of the priod, Savannah and the Government of Niger agreed to install an EPS on R3 East, which will see initial production from the outfit's discoveries sold into the domestic market.

"We continue to see significant resource potential on our wider Niger acreage," said chief executive Andrew Knott.

In other news, Savannah strengthened its executive management team with the appointment of David Clarkson to the role of chief operating officer to help steer the group through this "exciting time".

As of 1145 BST, Savannah shares had shot up 10.74% 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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