SAVANNAH ENERGY POSTS $160.6M REVENUE, CASH COLLECTIONS UP 13%

Savannah Energy Plc has reported a 10 per cent year-on-year increase in revenue to $160.6m for the seven months ended July 31, 2026, supported by stronger cash collections from its Nigerian operations.

The British independent energy company recorded revenue of $160.6m, up from $146m during the corresponding period in 2025.

Cash collections from its Nigerian operations also rose by 13 per cent to $247.9m, compared with $219.2m recorded during the same period last year.

Savannah said its cash balances stood at $62m as of July 31, compared with $42.7m at the end of December 2025. Trade receivables also declined by 22 per cent to $394.6m.

On operations, group average gross daily production stood at 16.3 thousand barrels of oil equivalent per day during the seven-month period, compared with 18.8 Kboepd in 2025. The company expects production to exceed 20 Kboepd during the remaining five months of the year following the start-up of the Uquo 13 well.

Savannah also reported a 29 per cent increase in average gross daily production at its Stubb Creek field to 3.7 thousand barrels of oil per day. Production at the field exceeded 5,000 barrels per day in July.

The Uquo 13 well achieved first gas in July after being tested at approximately 50 million standard cubic feet per day. Meanwhile, the Uquo South exploration well, which was spudded in early August, has confirmed gas in most of its targeted reservoirs.

The company said it continues to engage with the Nigerien Government over contractual and operational issues affecting its R1234 Production Sharing Contract.

Savannah is also involved in arbitration proceedings concerning the nationalisation of its assets in Chad, with decisions expected later in 2026.

The company said its focus remains on improving operational performance, strengthening cash generation and pursuing further growth opportunities across its oil, gas and power businesses.