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Savannah and ARKeX launch Niger airborne shoot over the Agadem Basin

27th November 2014

Savannah Petroleum has announced that its airborne Full Tensor Gradiometry (FTG) survey on the R1/R2 license area in Niger will commence today

Savannah and ARKeX launch Niger airborne shoot over the Agadem Basin
During the survey the ARKeX N344CS Twin Otter aircraft will operate from China National Petroleum Corporation’s (CNPC) Jaouro airstrip which is located in close proximity to the R1/R2 permit

The commencement of the survey was marked by a ceremony at Niamey Airport on Friday 21 November 2014 in the presence of representatives of the Niger Ministry of Energy and Petroleum and other guests, as well as representatives of Savannah Petroleum and ARKeX, a leading geophysical service company who will be conducting the FTG survey.

“The commencement of the FTG survey is another important step for Savannah as we look to unlock the significant potential of the R1/R2 Permit,” said Andrew Knott, CEO of Savannah Petroleum. “The results of the survey will be integrated into our existing Agadem basin subsurface model alongside the large 2D and 3D seismic data sets Savannah is currently interpreting.

“We remain on track to complete our leads and prospects inventory in Q1 2015 and to commence our high impact exploration drilling program in mid-2015. We remain confident in the outlook for Savannah and the attractiveness of the Agadem basin as a proven, highly prospective and low-cost oil province.”

During the survey the ARKeX N344CS Twin Otter aircraft will operate from China National Petroleum Corporation’s (CNPC) Jaouro airstrip which is located in close proximity to the R1/R2 permit.

“Having access to an advanced technology like this is exactly why we chose to diversify our partners and welcomed Savannah in Niger. We thank Savannah for making such an innovation in Niger’s oil and gas industry, and hope that the results of the survey will help Savannah improve its subsurface geological model with the objective to make important discoveries.”

“ARKeX and FTG have a successful track record in assisting the exploration of African Rift Systems and we are delighted to be bringing our acquisition, processing and interpretation expertise to Savannah Petroleum in Niger,” said Jim White, CEO of ARKeX. “We believe the resulting high resolution 3-D gravity data ARKeX will produce should have a significant positive impact on future exploration activity in the basin and are very pleased to have been awarded the Savannah Petroleum survey.”

The N344CS will make a series of daily flights over the R1/R2 license area and its surrounds, acquiring valuable geological data which it is anticipated will materially expand the company’s existing R1/R2 exploration target inventory.

The survey is expected to be completed in the first quarter of 2015.

“At its first management committee a few months ago, Savannah Petroleum took the commitment to conduct an FTG Survey on its licence area,” said Adolphe Gbaguidi, Niger director general of hydrocarbons.

“Today the Ministry of Petroleum is pleased to witness that Savannah is keeping its promises. The ARKeX plane is here and will fly to Agadem to start the survey. We are extremely happy because it will be the first time an FTG Survey is done in Niger.

The R1/R2 permit lies on the Termit Trough, which is part of the broader Central African Rift System (CARS). CARS consists of a series of highly oil prolific cretaceous and tertiary rifts, where over six billion barrels of oil has been discovered to date across fields in Sudan, South Sudan, Chad and Niger.

R1/R2 consists of approximately 30 per cent of Niger's original "Agadem" permit, an area where CNPC made an estimated 77 discoveries from 99 exploration wells, unlocking 832 million barrels of 2P reserves over the 2008-2013 period.

CNPC currently sells oil into the domestic market but intends to commence international exports via a pipeline export route over the course of the next 36 months. In a competent person’s report recently commissioned by Savannah and conducted by CGG Robertson, the internationally respected geological consultancy, the permit was estimated as having the potential to contain up to 819 million barrels of gross prospective resources in the primary Eocene horizon alone.

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