TIDMSAVE

RNS Number : 6022J

Savannah Energy Plc

13 December 2022

13 December 2022

Savannah Energy PLC

("Savannah", the "Company" or the "Group")

Termination of SPA for PETRONAS' Chad and Cameroon portfolio

On 13 December 2021, Savannah announced that it had entered into a Share Purchase Agreement ("SPA") with PETRONAS (E&P) Overseas Ventures SDN. BHD. ("PETRONAS") to acquire PETRONAS' upstream and midstream asset portfolio in Chad and Cameroon. Completion of the proposed acquisition remained subject to satisfaction of certain conditions precedent which have not yet been satisfied, and Savannah and PETRONAS have, therefore, mutually agreed to terminate the SPA with immediate effect.

For further information, please contact:

 
                                      +44 (0) 20 3817 
 Savannah Energy                       9844 
 Andrew Knott, CEO 
 Nick Beattie, CFO 
 Sally Marshak, Head of IR & 
  Communications 
 
                                      +44 (0) 20 7409 
 Strand Hanson (Nominated Adviser)     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                          +44 (0) 20 7886 
  Hugh Rich                            2500 
 
                                      +44 (0) 20 3757 
 Camarco                               4983 
 Billy Clegg 
  Owen Roberts 
  Violet Wilson

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR").

About Savannah Energy:

Savannah Energy PLC is an AIM quoted British independent energy company focused around the delivery of Projects that Matter in Africa, 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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December 13, 2022 13:00 ET (18:00 GMT)

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