Savannah Energy (SAVE)

Sector:

Energy Producers

Index:

FTSE AIM 50

26.05p
   
  • Change Today:
    -0.60p
  • 52 Week High: 40.20
  • 52 Week Low: 19.35
  • Currency: UK Pounds
  • Shares Issued: 1,306.10m
  • Volume: 602,138
  • Market Cap: £340.24m
  • RiskGrade: 340

Savannah Energy subsidiary increases Nigeria gas supply deal

By Josh White

Date: Friday 22 Apr 2022

LONDON (ShareCast) - (Sharecast News) - Africa-focussed Savannah Energy announced on Friday that its 80%-owned subsidiary Accugas has signed an addendum to its existing interruptible gas sales agreement with First Independent Power (FIPL), originally signed in January 2020.
The AIM-traded firm said Accugas currently supplies up to 35 million standard cubic feet of gas per day to FIPL's Afam power plant.

Under the terms of the addendum, FIPL would be able to increase the quantity of gas purchased from Accugas up to 65 million standard cubic feet per day, so as to also supply the Trans Amadi and Eleme power plants, in addition to the Afam plant.

FIPL's power plants have a total generation capacity of 391 MW, with the Trans Amadi and Eleme plants having generation capacities of 136MW and 75 MW respectively.

All three plants are located in Rivers State, Nigeria.

Savannah said FIPL is an affiliate company of the international energy and infrastructure conglomerate, the Sahara Group.

"Accugas has recorded growth in total revenues from gas sales for each of the last five years, with a realised compound annual growth rate of 15%," said chief executive officer Andrew Knott.

"New contracts, such as this morning's announcement provide the basis for us to continue this growth into the future and we look forward to continuing working with the Sahara Group on this and potentially other projects in the future."

At 1544 BST, shares in Savannah Energy were up 4.21% at 34.39p.

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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 26.05p
Change Today -0.60p
% Change -2.25 %
52 Week High 40.20
52 Week Low 19.35
Volume 602,138
Shares Issued 1,306.10m
Market Cap £340.24m
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
12:30 9,186 @ 26.05p
12:30 330 @ 26.30p
12:30 3,055 @ 26.30p
12:30 2,499 @ 26.30p
12:30 50,000 @ 26.07p

Savannah Energy Key Personnel

CEO Andrew Knott

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