Savannah Energy Provides Update on Proposed Acquisition and Suspension

Source: www.gulfoilandgas.com 12/2/2021, Location: Africa

Savannah Energy PLC, the African-focused British independent energy company sustainably developing high quality, high potential energy projects in Nigeria and Niger, provides the following update.

The Company’s ordinary shares were suspended from trading per the Company’s announcement on 2 June 2021 as a result of the requirement for the Company to announce it was in advanced exclusive discussions with ExxonMobil Corporation with respect to the proposed acquisition of its entire upstream and midstream asset portfolio in Chad and Cameroon (the "Proposed Acquisition").

The Company continues its final work in relation to the Proposed Acquisition and intends on publishing an AIM Admission Document on or around 17 December 2021, following which point the Company would seek restoration to trading on AIM of its ordinary shares.

Further updates will be provided as and when appropriate.


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