The Proposed Acquisition would include a 40 per cent operated interest in the Doba Oil Project, and an effective c. 40 per cent interest in the Chad-Cameroon oil transportation pipeline.
In 2020, the Doba Oil Project produced an average gross 33.7 Kbopd and the Chad-Cameroon pipeline transported a gross 129.2 Kbopd.
“There can be no assurance that agreement between the parties will be reached on mutually acceptable terms and that the Proposed Acquisition will complete. The Company will update shareholders as to progress made in relation to the Proposed Acquisition as appropriate”, Savannah Energy said.
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