RNS Number : 3792Q

Savannah Energy Plc

28 June 2022

28 June 2022

Savannah Energy PLC

("Savannah" or the "Company")

First Gas Sales to TransAfam Power Limited

Savannah Energy PLC, the British independent energy company focused around the delivery of Projects that Matter in Africa , is pleased to announce that Accugas Limited ("Accugas"), the Company's 80% indirectly owned subsidiary, has commenced gas sales to TransAfam Power Limited ("TAPL") in relation to the provision of gas for use at its power plants in Rivers State, Nigeria.

As previously announced on 6 June 2022, Savannah signed an interruptible gas sales agreement ("GSA") with TAPL to supply up to 35 MMscfpd daily for an initial three-month period, with the option to extend for a mutually agreed period. The plant is connected to the Accugas network via the Nigerian Gas Company pipeline from Ikot Abasi.

Andrew Knott, CEO, Savannah Energy, said :

"I am delighted to report we have already begun first gas sales to TAPL, having signed an agreement at the beginning of this month. This will be the third customer we have commenced new gas supply to in the past month. We have now signed and operationalised GSAs with power plants comprising around 24% of the country's thermal generation capacity (up from 14% at the same time last year) demonstrating our dedication to the Nigerian industry and being the energy partner of choice."

Vincent Ozoude, MD/CEO, TransAfam Power Limited, commented:

"We are pleased that the gas supply from Accugas Limited to our plant has commenced. This, as earlier mentioned, will support in boosting our plant capacity recovery programme and improving power generation to the country."

Speaking on the development, the President, Transcorp Group, Mrs Owen Omogiafo, said:

"The commencement of the gas supply by Accugas Limited to our subsidiary TransAfam is in line with our strategic intent of increasing power generation in Nigeria, noting the role of energy in the nation's development. We remain committed to optimising our installed capacities across our various plants, as leaders in the sector."

For further information, please refer to the Company's website www.savannah-energy.com or contact:

  Savannah Energy                                  +44 (0) 20 3817 9844 
  Andrew Knott, CEO 
  Nick Beattie, CFO 
  Sally Marshak, Head of IR & Communications 
  Strand Hanson (Nominated Adviser)                +44 (0) 20 7409 3494 
  James Spinney 
  Ritchie Balmer 
  Rob Patrick 
  finnCap Ltd (Joint Broker) 
   Christopher Raggett                             +44 (0) 20 7220 
   Tim Redfern                                      0500 
  Panmure Gordon (UK) Ltd (Joint Broker) 
   John Prior 
   Hugo Rich                                       +44 (0) 20 7886 
   James Sinclair-Ford                              2500 
  Camarco                                          +44 (0) 20 3757 4983 
  Billy Clegg 
  Owen Roberts 
  Violet Wilson 

The information contained within this announcement is considered to be inside information prior to its release, as defined in Article 7 of the Market Abuse Regulation (EU) No. 596/2014, which forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 (as amended), and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.

About Savannah Energy

Savannah Energy PLC is an AIM quoted British independent energy company focused around the delivery of Projects that Matter in Africa and is active in Cameroon, Chad, Niger and Nigeria.

Further information on Savannah Energy PLC can be found on the Company's website: www.savannah-energy.com .

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(END) Dow Jones Newswires

June 28, 2022 02:00 ET (06:00 GMT)

Savannah Petroleum (LSE:SAVP)
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