11th Oct 2018 11:59
LONDON (Alliance News) - Savannah Petroleum PLC on Thursday said the Nigerian government is "fully satisfied" with its proposed acquisition of assets from Seven Energy.
Savannah announced the takeover of Seven Energy's assets last November.
It has since submitted revised terms of the transaction to Nigeria's Department of Petroleum Resources, and the government has now completed due diligence and is happy with the terms.
Savannah expects the implementation agreement to be executed by the end of October, with deal completion by the end of the year.
Savannah shares were 2.4% lower on Thursday at a price of 33.20 pence each.
Related Shares:
SAVP.L