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: 612,138
  • Market Cap: £340.24m
  • RiskGrade: 340

Savannah Energy subsidiary enters gas sales agreement

By Josh White

Date: Tuesday 16 Aug 2022

LONDON (ShareCast) - (Sharecast News) - Africa-focussed Savannah Energy announced on Tuesday that its 80% indirectly-owned subsidiary Accugas has entered into a new gas sales agreement with Notore Chemical Industries.
The AIM-traded firm said Accugas would supply Notore with up to 10 million standard cubic feet of gas per day, to augment its current supplies.

It said the contracted supply was on an "interruptible and reasonable endeavours" basis, based on gas availability and nominations, for an initial term of one year with the option to extend for a mutually-agreed period.

Notore's fertiliser production plant is connected to the Accugas network via the Nigerian Gas Company pipeline from Ikot Abasi, and no further tie-in or capital expenditure would be required by Accugas to deliver gas to Notore.

Notore Chemical Industries is a Nigeria-based chemicals and infrastructure company located in the Onne Oil and Gas Free Zone area of Rivers state, in the south of the country.

Its primary business is the production of urea, ammonia and NPK-blend fertilisers and sale to the Nigerian and international markets.

Notore's facility has a production capacity of 1,500 metric tons per day of urea and 1,000 tonnes per day of ammonia.

"I am pleased to welcome Notore as a new gas customer to Accugas, representing our 10th customer site in total, versus three at the time of our acquisition of the Accugas business in 2019," said chief executive officer Andrew Knott.

"We look forward to developing our working relationship with Notore over the course of the coming months and years."

At 1421 BST, shares in Savannah Energy were up 3.95% at 31.55p.

Reporting by Josh White at Sharecast.com.

Email this article to a friend

or share it with one of these popular networks:


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 612,138
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
13:09 10,000 @ 26.03p
12:30 9,186 @ 26.05p
12:30 330 @ 26.30p
12:30 3,055 @ 26.30p
12:30 2,499 @ 26.30p

Savannah Energy Key Personnel

CEO Andrew Knott

Top of Page