Savannah Energy (SAVE)

Sector:

Energy Producers

Index:

FTSE AIM 50

27.30p
   
  • Change Today:
      1.95p
  • 52 Week High: 40.20p
  • 52 Week Low: 19.35p
  • Currency: UK Pounds
  • Shares Issued: 1,306.10m
  • Volume: 3,101,530
  • Market Cap: £356.56m
  • RiskGrade: 340

Savannah starts gas sales to Trans Amadi plant in Nigeria

By Josh White

Date: Wednesday 22 Jun 2022

LONDON (ShareCast) - (Sharecast News) - Savannah Energy announced on Wednesday that its 80%-owned subsidiary Accugas has started gas sales to First Independent Power Limited's (FIPL) Trans Amadi power plant in Port-Harcourt, Nigeria.
The AIM-traded firm executed an addendum to its gas sales agreement with FIPL in April, allowing FIPL to increase the quantity of gas purchased to up to 65 million standard cubic feet per day, to allow supply to both its Trans Amadi and Eleme power plants, as well as its Afam power plant.

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

The company said the Trans Amadi power plant has a power generation capacity of 136 MW, although its generation capacity had recently been limited due to gas availability issues from its primary supplier.

Savannah said it started gas supply to Trans Amadi on 19 June, allowing for the immediate resumption of power generation and evacuation to Nigeria's national grid.

"I am very pleased to have commenced gas sales to the Trans Amadi power station," said chief executive officer Andrew Knott.

"I am proud of the key role we are increasingly playing in providing power to Nigeria at this time.

"I would like to thank our partners at Sahara for continuing to choose to work with us and look forward to exploring further opportunities with them in the future."

At 0902 BST, shares in Savannah Energy were down 1.46% at 33.65p.

Reporting by Josh White at Sharecast.com.

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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 27.30p
Change Today 1.95p
% Change 7.69 %
52 Week High 40.20p
52 Week Low 19.35p
Volume 3,101,530
Shares Issued 1,306.10m
Market Cap £356.56m
RiskGrade 340

Savannah Energy Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
13.95% below the market average13.95% below the market average13.95% below the market average13.95% below the market average13.95% below the market average
64.71% below the sector average64.71% below the sector average64.71% below the sector average64.71% below the sector average64.71% below the sector average
Price Trend
92.79% above the market average92.79% above the market average92.79% above the market average92.79% above the market average92.79% above the market average
70.11% above the sector average70.11% above the sector average70.11% above the sector average70.11% above the sector average70.11% above the sector average
Income
70.57% below the market average70.57% below the market average70.57% below the market average70.57% below the market average70.57% below the market average
88.24% below the sector average88.24% below the sector average88.24% below the sector average88.24% below the sector average88.24% below the sector average
Growth
16.29% above the market average16.29% above the market average16.29% above the market average16.29% above the market average16.29% 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 2
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 2
strong_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 30-Sep-2022

Time Volume / Share Price
16:35 4,000 @ 27.30p
16:35 133,133 @ 27.30p
16:29 1,937 @ 27.75p
16:29 4,823 @ 27.70p
16:29 2,244 @ 27.15p

Savannah Energy Key Personnel

CEO Andrew Knott

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