Savannah Energy Reports Strong Q1 2025 Performance with 19% Revenue Growth

Financial Highlights Show Significant Growth

Savannah Energy PLC, the British independent energy company focused on delivering impactful projects, has released its Q1 2025 trading update showing robust financial performance. The company reported a 19% increase in total revenue, reaching US$73.3 million compared to US$61.4 million in Q1 2024.

Key Financial Metrics

• Cash collections increased by 6% to US$124.8 million
• Cash balances stood at US$110.4 million as of 31 March 2025
• Net debt reduced to US$597.8 million (excluding SIPEC Acquisition debt would be US$570 million)

Operational Achievements

The strong performance was driven by the successful completion of the SIPEC acquisition and expansion of the Stubb Creek oil field, which contributed approximately US$3.6 million in revenue. Since the acquisition, Savannah has increased production at Stubb Creek by 15% to 3.1 Kbopd in April 2025.

Reserve Upgrades

The company reported significant reserve increases:

• 197% increase in Stubb Creek Gross 1P oil Reserves
• 29% increase in Stubb Creek Gross 2P oil Reserves

Future Development Plans

Savannah is progressing with several key projects:

• US$45 million compression project at Uquo Central Processing Facility nearing completion
• Potential two-well drilling campaign on Uquo Field planned for Q4 2025
• Exploration well targeting 154 Bscf of Prospective gas Resources under consideration

CEO Statement

“I am pleased to provide a Q1 2025 trading update, highlighting good progress in our core objectives for the year,” said Andrew Knott, CEO of Savannah Energy. “2025 continues to be an exciting year for the business as we work towards delivering our nine focus area projects.”

Niger Operations Update

In Niger, Savannah is progressing the 35 MMstb R3 East oil development:

• Potential four-well testing programme planned for late 2025
• Estimated cost of well-test programme approximately US$14.5 million
• Successful tests could accelerate commercial oil production plans

Updated Competent Persons Reports

The company has appointed McDaniel & Associates to prepare updated Competent Person’s Reports for its oil and gas assets, to be published alongside the FY 2024 annual report.

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