Savannah Energy (SAVE)

Sector:

Energy Producers

Index:

FTSE AIM 50

25.95p
   
  • Change Today:
    -0.70p
  • 52 Week High: 40.20p
  • 52 Week Low: 19.35p
  • Currency: UK Pounds
  • Shares Issued: 1,306.10m
  • Volume: 823,842
  • Market Cap: £338.93m
  • RiskGrade: 340

Savannah Petroleum confirms quality of Nigerian assets in CPR

By Iain Gilbert

Date: Wednesday 11 Dec 2019

LONDON (ShareCast) - (Sharecast News) - Independent oil and gas company Savannah Petroleum confirmed the high quality of its Nigerian assets on Wednesday following the publication of a competent person's report.
The CPR, which covered the Uquo and Stubb Creek fields as well as the recently acquired Accugas midstream business, confirmed previous estimates of gross and net 2P reserves of 99.6 million barrels of oil equivalent and 71.0 mmboe respectively, and gross and net 2C resources of 98.0 mmboe and 58.6 mmboe, respectively.

Savannah also revealed that gross production across its Nigerian assets had risen 33% to 17,300 barrels of oil equivalent per day in the ten months ended 31 October - exceeding the 13,000 boepd recorded during 2018.

As part of Savanna's ongoing gas field development plan at Uquo, the group plans to drill and complete a gas production well, re-complete an oil well as a gas producer and to work over one of the current gas production wells at an estimated cost of $34.5m.

Cash collections at the Nigerian assets in 2019 were expected to be roughly $190m.

Savannah also highlighted that production costs over the 2016-2019 period had decreased by approximately 18%.

Chief executive Andrew Knott said: "We continue to view these assets as a strong platform from which we will deliver further growth.

"In this regard, we continue to make good progress in relation to the supply of gas to potential new customers, and are investing in additional well stock to ensure anticipated future production levels are capable of being met."

As of 1030 GMT, Savannah shares had climbed 8.17% 22.50p.

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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 25.95p
Change Today -0.70p
% Change -2.63 %
52 Week High 40.20p
52 Week Low 19.35p
Volume 823,842
Shares Issued 1,306.10m
Market Cap £338.93m
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
13:20 3,023 @ 25.95p
13:19 2,000 @ 25.90p
13:18 3,750 @ 26.10p
13:17 5,000 @ 25.90p
13:17 1,313 @ 26.03p

Savannah Energy Key Personnel

CEO Andrew Knott

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