Savannah Energy completes $407 million Exxon Mobil acquisition and re-admission
December 2022
Savannah Energy PLC, the Africa focused energy company, has completed its $407 million acquisition of US oil major Exxon Mobil Corp’s entire upstream and midstream asset portfolio in Chad and Cameroon.
The acquisition includes the operatorship of the upstream assets through the acquisition of the former operator, Esso Exploration & Production Chad Inc. Following completion, Savannah will own a 40% interest in the Doba oil project and a 40% indirect interest in the Chad-Cameroon export transportation system.
Acquisition and re-admission to trading on AIM
The Exxon Acquisition took place on 9th December, 2022. Consequently, the company’s existing share capital was cancelled from trading on AIM on 12 December 2022 and re-admission of the company’s existing share capital took place on 13 December 2022.
Having helped Savannah with their placing and subscription of new ordinary shares and re-admission in December 2021, the Perivan Shareholder communications team was delighted to work with Strand Hanson to produce the 102-page supplemental admission document, which was successfully published on 9th December 2022.
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Perivan specialise in producing and publishing financial documents relating to shareholder and investor communications for quoted companies, private companies, and open and closed-ended funds.
