SAVP Savannah Petroleum Plc

TIDMSAVE

RNS Number : 9946Q

Savannah Energy Plc

02 November 2021

2 November 2021

Savannah Energy PLC

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

First Gas Sales to FIPL Afam

Savannah Energy PLC, the African-focused British independent energy company sustainably developing high quality, high potential energy projects in Nigeria and Niger, is pleased to announce that its Accugas subsidiary has commenced gas sales to First Independent Power Limited's ("FIPL") power plant, FIPL Afam, in Nigeria.

As announced in early 2020, Savannah signed a gas sales agreement with FIPL Afam marking, at that time, Savannah's first new gas sales agreement in five years. FIPL is an affiliate company of Sahara Group, a leading international energy and infrastructure conglomerate with operations in over 42 countries across Africa, the Middle East, Europe, and Asia. Sahara Power Group is the largest privately-owned, vertically integrated power company in Sub-Saharan Africa with plans to expand its power generation capacity in Africa to more than 5,000MW by 2023.

The FIPL Afam plant has a power generation capacity of 180MW. Following the successful construction of a short pipeline to establish connection, and recommissioning of the third-party pipeline linking FIPL Afam to Accugas' network, Accugas has commenced gas deliveries to FIPL Afam of up to a maximum daily nominated quantity of 35 MMscfpd. The average daily nomination for this week is 25 MMscfpd

Andrew Knott, CEO of Savannah Energy, said:

"First gas sales to FIPL Afam represents a great milestone for Accugas and Savannah, and the achievement of a key performance goal for 2021. This marks our entry into the high growth Port Harcourt Industrial area. We look forward to developing our relationship further with FIPL over the coming months and are excited to continue our role as the gas supplier of choice to the Nigeria power sector."

Kola Adesina, Group Managing Director, Sahara Power Group said:

"In order to bring energy to life, we at Sahara, through our diversified power assets, continue to seek partnerships that enhance our customer experience and quality of life by ensuring the health of the electricity value chain. We believe with Savannah, we have a partnership that works."

Savannah's Operations in South East Nigeria

http://www.rns-pdf.londonstockexchange.com/rns/9946Q_1-2021-11-1.pdf

 
                                      +44 (0) 20 3817 
 Savannah Energy                       9844 
 Andrew Knott, CEO 
 Nick Beattie, Deputy 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 
 
 

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 No. 596/2014, 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 market listed African-focused British independent energy company sustainably developing high quality, high potential energy projects in Nigeria and Niger, with a focus on delivering material long term returns for stakeholders. In Nigeria, the Company has controlling interests in the cash flow generative Uquo and Stubb Creek oil and gas fields, and the Accugas midstream business in South East Nigeria, which provides gas enabling over 10% of Nigeria's thermal power generation. In Niger, the Company has licence interests covering approximately 50% of the highly oil prolific Agadem Rift Basin of South East Niger, where the Company has made five oil discoveries and seismically identified a large exploration prospect inventory consisting of 146 exploration targets to be considered for potential future drilling activity.

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

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November 02, 2021 03:00 ET (07:00 GMT)

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