A positive ops update from Savannah Energy demonstrates continued impressive progress in Nigeria with record cash collections and production, additional cost reductions and declining net debt. It has also revised favourably one of its gas sales agreements, which is accretive to short and medium-term cash flow. Our risked-NAV and price target rise 6% as a result, to 52p/sh.
23 Dec 2020
Savannah Energy - Ops update drives NAV upgrade
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Savannah Energy - Ops update drives NAV upgrade
Savannah Energy Plc (SAVE:LON) | 26.4 0 0.0% | Mkt Cap: 346.7m
- Published:
23 Dec 2020 -
Author:
Jonathan Wright -
Pages:
8
A positive ops update from Savannah Energy demonstrates continued impressive progress in Nigeria with record cash collections and production, additional cost reductions and declining net debt. It has also revised favourably one of its gas sales agreements, which is accretive to short and medium-term cash flow. Our risked-NAV and price target rise 6% as a result, to 52p/sh.