StockMarketWire.com - African-focused British independent energy company Savannah Energy is in advanced discussions with ExxonMobil Corporation with regards to the proposed acquisition of its entire upstream and midstream asset portfolio in Chad and Cameroon, the firm said in a statement to shareholders.

The Acquisition would include a 40% operated interest in the Doba Oil Project, and an effective 40% interest in the Chad-Cameroon oil transportation pipeline.

The company has requested that its ordinary shares be suspended from trading on AIM with immediate effect.


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