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's Accugas enters new gas sales agreement

By Josh White

Date: Friday 31 Jan 2020

LONDON (ShareCast) - (Sharecast News) - Niger and Nigeria-focussed oil and gas company Savannah Petroleum announced on Friday that its Accugas operation has entered into a new interruptible gas sales agreement with First Independent Power (FIPL), in relation to the provision of gas sales to the FIPL Afam power plant.
The AIM-traded firm said FIPL is an affiliate company of Sahara Group - an energy and infrastructure conglomerate with operations in more than 42 countries across Africa, the Middle East, Europe and Asia.

It said Afam had a current power generation capacity of 180MW, with the gas sales agreement envisaging the supply of gas by Accugas to FIPL Afam in order to augment its existing gas supply on an interruptible basis, for an initial term of one year with the ability to extend upon mutual agreement.

"I am delighted to announce the interruptible gas sales agreement with FIPL, representing the first new gas sales agreement that the Accugas business has signed in over five years, and we look forward to partnering with the Sahara Group, who have notable experience with energy and infrastructure projects in Africa," said chief executive officer Andrew Knott.

"We are confident that this will be the first of several new gas sales agreements signed over the course of 2020 and, through Accugas, we aim to be seen as the gas supplier of choice to the power sector in Nigeria."

Kola Adesina, group managing director of Sahara Power Group, added that the company was "delighted" to be working with Accugas on the project.

"It is another demonstration of our commitment to bringing energy to life by facilitating economic activities through our power business.

"We remain resolute in our vision to enhance access to sustainable energy in Nigeria and ultimately, across Africa."

At 1518 GMT, shares in Savannah Petroleum were up 1.63% at 18.09p.

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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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