REG - Savannah Energy Plc - GSA signed with Notore Chemical Industries

Savannah EnergyAnnouncement

16/08/2022 07:00

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RNS Number : 0940W  Savannah Energy Plc  16 August 2022

16 August 2022

 

Savannah Energy PLC

("Savannah" or "the Company")

 

New Gas Sales Agreement Signed with Notore Chemical Industries PLC

 

Savannah Energy PLC, the British independent energy company focused around
the delivery of Projects that Matter in Africa, is pleased to announce that
the Company's 80% indirectly owned subsidiary, Accugas Limited, has entered
into a new gas sales agreement ("GSA") with Notore Chemical Industries PLC
("Notore").

 

Accugas will supply Notore with up to 10 MMscfpd of gas to augment its current
supplies. The contracted supply is on an interruptible and reasonable
endeavours basis, based on gas availability and nominations, for an initial
term of one year, with the option to extend for a mutually agreed period.
Notore's fertiliser production plant is connected to the Accugas network via
the Nigerian Gas Company pipeline from Ikot Abasi and no further tie-in or
capital expenditure is required by Accugas to deliver gas to Notore.

 

Notore Chemical Industries PLC, formerly Notore Chemical Industries Ltd, is a
Nigeria-based integrated agro-allied, chemicals and infrastructure company
located in the Onne Oil and Gas Free Zone area of Rivers state in southern
Nigeria. Notore's primary business is the production of urea, ammonia and NPK
blend fertilisers and sale to the Nigerian and international markets. Notore's
facility has a production capacity of 1,500 metric tons (MT) per day of urea
and 1,000 MT/day of ammonia.

 

Andrew Knott, CEO of Savannah Energy, said:

"I am pleased to welcome Notore as a new gas customer to Accugas, representing
our tenth customer site in total (versus three at the time of our acquisition
of the Accugas business in 2019). We look forward to developing our working
relationship with Notore over the course of the coming months and years"

 

For further information, please refer to the Company's
website www.savannah-energy.com (http://www.savannah-energy.com/)  or
contact:

 

 Savannah Energy                                                                   +44 (0) 20 3817 9844
 Andrew Knott, CEO
 Nick Beattie, CFO
 Sally Marshak, Head of IR & Communications

 Strand Hanson (Nominated Adviser)                                                 +44 (0) 20 7409 3494
 James Spinney
 Ritchie Balmer
 Rob Patrick

 finnCap Ltd (Joint                                                                +44 (0) 20 7220 0500
 Broker)

 Christopher Raggett

 Tim Redfern

 Panmure Gordon (UK) Ltd (Joint                                                    +44 (0) 20 7886 2500
 Broker)

 John Prior
 Hugh Rich
 James Sinclair-Ford

 Camarco                                                                           +44 (0) 203 757 4980
 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 quoted British independent energy company
focused around the delivery of Projects that Matter in Africa and is active in
Cameroon, Chad, Niger and Nigeria.

 

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

 

South East Nigeria Infrastructure Map

http://www.rns-pdf.londonstockexchange.com/rns/0940W_1-2022-8-15.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/0940W_1-2022-8-15.pdf)

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