TIDMSAVP

RNS Number : 7681R

Savannah Petroleum PLC

14 December 2016

14 December 2016

Savannah Petroleum PLC

("Savannah" or the "Company")

Revolving Loan Facility

Savannah Petroleum PLC ("Savannah") is pleased to announce the signature of a new EUR11.4 million revolving loan facility ("the Facility") with Oragroup SA, the West and Central Africa focused banking group.

The Facility can be drawn and repaid for three years from the date of signature and is available for working capital, potential asset acquisitions and general corporate purposes. An interest rate of 7.5% is payable on a semi-annual basis on amounts borrowed under the Facility.

 
 For further information 
  contact: 
 Savannah Petroleum            +44 (0) 20 3817 9844 
 Andrew Knott, CEO 
 Jessica Hostage, Corporate 
  Communications 
 
 Strand Hanson (Nominated 
  Adviser)                     +44 (0) 20 7409 3494 
 Rory Murphy 
 James Spinney 
 Ritchie Balmer 
 
 Mirabaud (Broker)             +44 (0) 20 7878 3362 
 Peter Krens 
 Rory Scott 
 
 Celicourt Communications      +44 (0) 20 7520 9266 
 Mark Antelme 
 Jimmy Lea

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

December 14, 2016 02:00 ET (07:00 GMT)

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