Savannah Energy (SAVE)

Sector:

Energy Producers

Index:

FTSE AIM 50

26.25p
   
  • Change Today:
    -0.40p
  • 52 Week High: 40.20
  • 52 Week Low: 19.35
  • Currency: UK Pounds
  • Shares Issued: 1,306.10m
  • Volume: 348,758
  • Market Cap: £342.85m
  • RiskGrade: 340

Savannah Petroleum finds oil bearing sandstones at 5th well

By Iain Gilbert

Date: Wednesday 14 Nov 2018

LONDON (ShareCast) - (Sharecast News) - Savannah Petroleum said it had encountered roughly 5.4m of net oil-bearing reservoir sandstones at its Zomo-1 exploration well in Niger.
The AIM-listed explorer revealed its discovery at the E1 reservoir unit within the primary Eocene Sokor Alternances objective on Friday, noting that additional pay was thought to potentially exist in the well, but would require confirmation through further technical evaluation and testing.

Savannah said wireline logs indicated that the reservoir's contents were of "good quality" and that its available data indicated "light oil consistent with Savannah's discoveries to date".

Chairman Steve Jenkins said: "Following the Zomo-1 discovery, our maiden exploration campaign in Niger has delivered five discoveries from five wells and resulted in the discovery of more than sufficient oil to enable us to proceed towards our planned 2019 Early Production System."

"This is a fantastic achievement, and we expect the EPS to create a material new revenue stream for our Company. Looking forward, 2019 is set to be an extremely busy time for Savannah Niger on the drilling front."

As of 0840 BST, Savannah shares had slipped 0.48% to 33.04p.

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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
Change Today -0.40p
% Change -1.50 %
52 Week High 40.20
52 Week Low 19.35
Volume 348,758
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
82.3% below the market average82.3% below the market average82.3% below the market average82.3% below the market average82.3% below the market average
70.73% below the sector average70.73% below the sector average70.73% below the sector average70.73% below the sector average70.73% below the sector average
Price Trend
51.36% above the market average51.36% above the market average51.36% above the market average51.36% above the market average51.36% above the market average
38.64% above the sector average38.64% above the sector average38.64% above the sector average38.64% above the sector average38.64% above the sector average
Income
93.18% below the market average93.18% below the market average93.18% below the market average93.18% below the market average93.18% below the market average
85.71% below the sector average85.71% below the sector average85.71% below the sector average85.71% below the sector average85.71% below the sector average
Growth
14.51% above the market average14.51% above the market average14.51% above the market average14.51% above the market average14.51% above the market average
15.38% above the sector average15.38% above the sector average15.38% above the sector average15.38% above the sector average15.38% above the sector average

What The Brokers Say

Strong Buy 0
Buy 2
Neutral 0
Sell 0
Strong Sell 0
Total 2
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 09-Dec-2022

Time Volume / Share Price
11:21 3,377 @ 26.25p
11:21 4,780 @ 26.25p
11:21 220 @ 25.95p
11:21 4,780 @ 25.95p
11:21 19,000 @ 26.20p

Savannah Energy Key Personnel

CEO Andrew Knott

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