Savannah Energy Plc (Savannah) has announced that it has completed the acquisition of ExxonMobil's interests in the Doba Oil Project and the Chad-Cameroon export transportation system for consideration of US$407 million.
In aggregate, Savannah has acquired:
- a 40% participating interest in the Doba Oil Project, which comprises seven producing oil fields with 142.3 MMstb of 2P Reserves and expected 2022 gross production of 29 Kbopd.
- a 40% equity interest in the company which owns the Chad-Cameron export transportation system that comprises a 1,081km pipeline and the Kome Kribi 1 floating storage and offloading facility, offshore Cameroon along with all associated facilities. The Chad-Cameroon pipeline is 30” in diameter with a nameplate capacity of 250 Kbopd and an estimated pipeline throughput in 2022 of 124 Kbopd, from more than 15 fields.
Crowe's role and the team
Crowe acted as reporting accountant on the transaction, with corporate finance partner Paul Blythe leading the capital markets team, supported by Monty Cann, Jacob Porter and Jake Harrison.
Client quote
We were pleased to once again work with the Capital Markets team at Crowe who were able to provide an efficient service throughout, which enabled us to meet tight deadlines on this important transaction. We would certainly recommend them to other companies looking to list in London.
Nick Beattie, CFO, Savannah Energy Plc
Filter By
Industries
Type of deal
Insert Clear Filter Text
Crowe acted as reporting accountant on TEK4 Group plcv £24.75 million placing and admission to trading on AIM.
Crowe acted as Reporting Accountant on Chaleit Holdings plc's £2.1 million placing, subscription and admission to trading on AIM.
Crowe provided reporting accountant services for 1947 Oil & Gas Plc's acquisition of Renaissance Offshore LLC and AIM admission.
Crowe provided sell-side transaction support to Plantexpand on its sale to Premius Capital.
Crowe acted as financial due diligence and tax due diligence advisors to Acquisan Limited.
Crowe acted as lead advisors to the shareholders to Just Welfare Limited.
Crowe acted as financial and tax due diligence adviser to Harwood, and also provided tax structuring advice.
Crowe provided financial and tax due diligence services to Astra on its acquisition of DNH.
Crowe completed both financial and tax due diligence for Ama Capital in respect of this investment in Ivy House Learning Ltd.
Crowe provided Financial and Tax Due Diligence services to Chiltern Capital on its investment into Xburo.
Crowe provided reporting accountant services to Silverwood Brands PLC on its acquisition of Balmonds Skincare Ltd and re-admission to the AQSE.
Crowe acted as reporting accountant on TEK4 Group plcv £24.75 million placing and admission to trading on AIM.
Crowe acted as Reporting Accountant on Chaleit Holdings plc's £2.1 million placing, subscription and admission to trading on AIM.
Crowe provided reporting accountant services for 1947 Oil & Gas Plc's acquisition of Renaissance Offshore LLC and AIM admission.
Crowe provided sell-side transaction support to Plantexpand on its sale to Premius Capital.
Crowe acted as financial due diligence and tax due diligence advisors to Acquisan Limited.
Crowe acted as lead advisors to the shareholders to Just Welfare Limited.
Crowe acted as financial and tax due diligence adviser to Harwood, and also provided tax structuring advice.
Crowe provided financial and tax due diligence services to Astra on its acquisition of DNH.
Crowe completed both financial and tax due diligence for Ama Capital in respect of this investment in Ivy House Learning Ltd.
Crowe provided Financial and Tax Due Diligence services to Chiltern Capital on its investment into Xburo.
Crowe provided reporting accountant services to Silverwood Brands PLC on its acquisition of Balmonds Skincare Ltd and re-admission to the AQSE.