- Savannah Petroleum said production at its so-called Seven Assets in February had continued to increase, with month-to-date net average production of 20.7k barrels of oil equivalent per day.

'The strong production performance seen by the Seven Assets over the course of the past three months is highly encouraging for the 2018 outlook,' chief executive Andrew Knott said.

'Following the completion of our placing, Savannah is now well positioned to deliver further growth in both Niger and Nigeria.'

'In the first quarter of 2018 we expect to spud the first well in our potentially transformational multi-well drilling campaign in Niger, Bushiya.'

'We continue to target completion of the Seven Transaction in April, and look forward to providing further updates in due course.'

At 8:13am: [LON:SAVP] Savannah Petroleum Plc Ord Gbp0.001 share price was +0.25p at 29.5p

Story provided by