Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Savannah Petroleum inks contract for seismic programmes Niger

It is expected that the programme will get underway in the first half of this year.
Savannah Petroleum inks contract for seismic programmes Niger
Savannah has already identified 14 drill-ready prospects with the R1/R2 area.

Savannah Petroleum (LON:SAVP) has told investors that framework contracts have now been signed for planned seismic exploration programmes in Niger.

Contractor BGP Niger SARL will now provide 2D and 3D land seismic acquisition services for Savannah’s R1/R2 and R3/R4 licence areas, in South East Niger.

It is expected that the programme will get underway in the first half of this year.

Savannah’s exploration position covers an expanse within the Agadem Rift Basin, and is located nearby to areas that have been successfully drilled out by the China National Petroleum Company (CNPC).

The acreage was secured by Savannah following CNPC’s mandatory relinquishment (the Chinese firm had to let go of a portion of its landholding due to its production sharing contract terms).

An independent assessment of Savannah’s acreage estimated some 1.19bn barrels of prospective oil resources within the R1/R2 area where it has 14-drill ready prospects, while the adjoining but less explored R3/R4 area was acquired by the company last summer.

Jamie_55a91591db06b.jpg
Why Invest In Savannah Petroleum PLC? Read More Here

Register here to be notified of future SAVP Company articles
View full SAVP profile

Savannah Petroleum PLC Timeline

Related Articles

Ghazalat.jpg
November 23 2015
Production received a big boost from the joint venture that holds the East Ghazalat concession in Egypt.
savannah_good.png
October 06 2015
Search for a farm-in partner intensifies as oil resource estimates double
One of Iofina's plants in Oklahoma where it produces iodine from brine water taken as by product from oil fields
June 10 2016
Iofina has rallied some 350% since April. A new debt deal and the prospect of improving markets bode well for the AIM group's continuing recovery.

© Proactive Investors 2016

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.