Niger/Nigeria: Savannah details Seven acquisition plans

Issue 358 - 23 Nov 2017 | 1 minute read

Savannah Petroleum has given more details of its planned acquisition of Seven Energy, outlining a lock-up agreement for the acquisition of specific assets. AIM-listed Savannah will acquire a 40% participating interest in the producing Uquo oil and gas field, 62.5% in Universal Energy Resources Limited, which holds a 51% participating interest in the producing Stubb Creek oil and gas field, and an interest in the Accugas Limited midstream business, along with its 260km gas pipeline network and associated gas processing infrastructure, potentially in conjunction with third-party investors.

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