Savannah Petroleum plc expects exploration drilling to commence in Niger in the first half of next year, following the acquisition of seismic data across the R3 license area.
The seismic acquisition is expected to be complete in early 2017, with processing scheduled to commence during the acquisition in an effort to optimize timing. Discussions with potential farm-in partners are currently ongoing, according to Savannah, with any transactions expected to be announced prior to the commencement of drilling activity.
“Following our recent capital raise, Savannah is now funded for the next phase of seismic and drilling operations on our permit areas in Niger,” said Savannah CEO Andrew Knott.
“We believe our forward work program is capable of delivering a material step change in value for our stakeholders, and ahead of this we look forward to welcoming our core stakeholders to Niger in November for our capital markets event, which we expect will provide a significant update on our business,” he added.
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