Niger/Nigeria: Savannah seeks reverse takeover of Seven Energy

Niger-focused Savannah Petroleum is in talks to acquire the oil and gas assets of Nigeria’s Seven Energy, which has run into financial difficulties related to the closure of the Forcados terminal and non-payment for its gas supply to power stations. Savannah said on 13 July that it had entered into a binding exclusivity agreement in relation to the potential acquisition.Savannah has exploration acreage in Niger, where it plans a first well in August.