First Gas-to-CNG Sales Agreement
with Mulak Energy.
FY 2020 Total Revenues1 of US$235.9m
announced following the first full year of operating our Nigerian Assets
Revised GSA with Lafarge Africa PLC for the supply of gas to its Mfamosing cement plant in Cross River State, Nigeria.
Updated Competent Person’s Report published by CGG for Niger
Supplemental Admission Document published relating to the Nigerian Assets acquisition in
Savannah changes its name to Savannah Energy PLC reflecting the Company’s increasingly diversified asset portfolio
Announcement of a new gas sales agreement providing gas to the FIPL Afam power plant, part of the multinational Sahara Group
Updated Competent Persons Report published by CGG for Nigeria
Savannah completes the Nigerian Assets acquisition
Savannah receives Ministerial Consent for the Nigerian Assets acquisition
Savannah raises US$23m through a placing of ordinary shares
Savanah announces amendments to the terms of the Nigerian Assets acquisition, resulting in an 80% stake in the Uquo gas field and Accugas, in partnership with African Infrastructure Investment Managers (AIIM)
Savannah reaches an agreement to acquire 37.5% minority interest in UERL as part of the Nigerian Assets acquisition
April – October 2018
Savannah discovers oil in 5 out of 5 test wells (Bushiya, Amdigh, Kunama, Eridal and Zomo ) in Niger establishing a 100% success rate
Savannah announces plans to acquire Seven Energy’s Nigerian assets in partnership with leading private equity firm, African Infrastructure Investment Managers (AIIM).
Savannah announces an equity raise of US$125m.
Completion of 3D seismic acquisition over a c.800km2 portion of the R3 license area in Niger.
Savannah organises a site visit for analysts and investors to the Company’s operations and offices in Niger
Savannah raises US$40m through a placing and issue of ordinary shares
Savannah raises US$36m through a placing
Savannah signs R3/R4 area Production Sharing Contract in the Agadem Rift Basin, Niger
Savannah begins an Full Tensor Gravity Gradiometry Survey in the R1/R2 licence area of the Agadem Rift Basin, Niger
Savannah lists on AIM with an initial market capitalistion of US$142m raising approximately US$50 million in new equity
Savannah is incorporated
Savannah announces the signing of a Production Sharing Contract (PSC) with the Government of Niger for the R1/ R2 license area. The PSC was believed to represent the single largest direct foreign investment into Niger by a UK Company
1 Total Revenues are defined as the total amount of invoiced sales during the period. This number is seen by management as more accurately reflecting the underlying cash generation capacity of the business as opposed to Revenue recognised in the Income Statement. A detailed explanation of the impact of IFRS 15 revenue recognition rules on our Income Statement is provided in the Financial Review section on page 67 of the Savannah Annual Report and Accounts 2019. For reference FY 2020 Revenues were US$169.0m (up 28% on FY 2019 pro-forma revenues of US$132.3)