Savannah Energy Pursues Alternative South Sudan Deal

Savannah Petroleum (GB:SAVE) has released an update.

Savannah Energy PLC’s planned acquisition of PETRONAS’ oil and gas assets in South Sudan has hit a snag, with the original sale not proceeding as initially expected. However, the company is actively pursuing an alternative deal to acquire these assets, which would still require shareholder approval and keep the company’s shares suspended until further details are published. Investors are advised to expect an update on the situation in early September.

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