Savannah Energy (LON: SAVE) has completed the reverse takeover of the Chad and Cameroon assets of ExxonMobil and been readmitted to AIM. This deal was set to be followed by the purchase of additional stakes owned by Petronas in the assets in Chad and Cameroon, but this has fallen through. However, there is a potential $1.25bn transaction to acquire Petronas upstream assets in South Sudan.
The ExxonMobil deal was announced in June 2021 and the abortive and the Petronas transaction was revealed exactly one year ago. There was a $65m placing and subscription at 19.35p a share at the end of 2021. ...
