Savannah Petroleum PLC, the British independent oil and gas company focused around oil and gas activities in Niger and Nigeria, is pleased to announce that its Niger subsidiary (“Savannah Niger”) has submitted a pre-feasibility study (“PFS”) to the Ministry of Energy and Petroleum in Niger in relation to its planned early production scheme (“EPS”) on the R3 portion of the R3/R4 Production Sharing Contract area of the Agadem Rift Basin (“ARB”) of South East Niger.

Savannah Niger undertook to prepare and submit the PFS within 90 days of the signature of its Memorandum of Understanding (“MOU”) with the Republic of Niger, as announced on 8 August 2018. The MOU affirms the commitment of Savannah Niger and the Republic of Niger to realise a domestic-focused EPS using crude oil resources associated with the Company’s recent discoveries. The PFS sets out Savannah Niger’s plans for the Amdigh-1 well test, resource volumes expected to be developed as part of the EPS and associated potential production profiles, as per the Company’s announcement of 28 September 2018 and as reviewed by Savannah’s Competent Person, CGG Robertson.