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Savannah Petroleum wraps up Seven Energy transaction in Nigeria

first_img Seven Uquo Gas, a subsidiary of Seven Energy, has a participating stake of 40% in the Uquo field. Photo: courtesy of Seven Energy. UK-based Savannah Petroleum has wrapped up its acquisition of Nigerian oil and gas company Seven Energy, about two years after announcing the deal.The acquisition was completed following a court hearing last week during which administrators were appointed to the Nigerian company. The administrators subsequently completed the transfer of the company’s assets to group companies controlled by Savannah Petroleum and African Infrastructure Investment Managers (AIIM).Through the acquisition of Seven Energy, the UK firm has now taken stakes in Seven Uquo Gas, in the Stubb Creek field, and in the Accugas midstream business.Savannah Petroleum CEO Andrew Knott said: “The deal transforms Savannah into a full-cycle E&P company in West Africa and marks the start of a very exciting time for us.  We have acquired a business with great people and a strong set of exploration, appraisal, development and production assets which are expected to be highly cash flow generative for the Company.”Details of the assets added through the acquisition of Seven EnergySavannah Petroleum has acquired 80% stake in Seven Uquo Gas, which has a participating stake of 40% in the Uquo field located in South East Nigeria. Seven Uquo Gas will take over responsibility for all operations of the gas project at the Uquo field after the completion of its previously announced transaction with Frontier Oil.The British oil and gas company gets a 51% stake in the Stubb Creek field located in South East Nigeria via Seven Energy’s 100% ownership of Universal Energy Resources.In the Accugas midstream business, the company gets an 80% stake. The Accugas midstream operations is made up of the Uquo gas processing facility, which has a capacity of 200 mmscfd, a 260km long pipeline network, and long-term gas sales agreements with downstream customers.Savannah Petroleum has offloaded 20% stakes each in Seven Uquo Gas and Accugas to AIIM for $54m.Savannah Petroleum chairman Steve Jenkins said: “In Nigeria, our focus is on delivering further growth in the Company’s revenue base, and as we continue to develop in country we see strong potential for additional resource growth over time.“In Niger, we look forward to recommencing activity in 2020, with expected delivery of first oil from R3 East and a multi-well exploration drilling campaign.” The acquisition of Seven Energy is said to transform Savannah Petroleum into a full-cycle exploration and production company in West Africalast_img read more

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Fifa World Cup FIFA World Cup 2018: ‘Hurts me to have missed the penalty,’ says Lionel Messi

first_img For all the Latest Sports News News, Fifa World Cup News, Download News Nation Android and iOS Mobile Apps. New Delhi: Argentine icon Lionel Messi on Saturday missed the fourth penalty in his last seven attempts for both club Barcelona and country, haunting him with memories of his effort in the 2016 Copa America final against Chile.Two years back, Messi had announced his retirement from international football after missing a penalty in the Copa America final that eventually cost them the title.However, after requests from the entire nation, the Barcelona forward reconsidered his decision and returned to don the white and blue.On Saturday, in Argentina’s FIFA World Cup 2018 opener against Iceland, the five time Ballon d’Or winner went through the nightmare once again, the only saving grace in it was that it was just a group match, and not a final.”It would have changed the script. It was the advantage,” Messi said.”Obviously it hurts me to have missed the penalty. They would have opened a little more and we could have found more spaces.”We have the bitterness of not being able to take the three points that we deserved. To start with winning is always important, now we have to think about Croatia.”We will try to pass this quickly.”La Albiceleste were held by World Cup debutants Iceland in a 1-1 draw, despite having 78 per cent of possession during the course of 90 minutes.Iceland’s defensive efforts were lauded by the whole world and their determination and grit earned them a dream point against heavyweights Argentina.Argentina coach Jorge Sampaoli praised Iceland’s defensive efforts and complimented Messi’s attitude after a difficult game.”To evaluate and characterise Lionel Messi’s work is difficult because it was an uncomfortable match for him,” Sampaoli said.”Iceland played very defensively, blocking all spaces but we did everything we could to win. Leo is very committed to Argentina.”We always come to win so that’s why there is a certain amount of frustration.”Argentina and skipper Lionel Messi would want to forget this draw and focus on their next match against Croatia on 21 June.On early hours of Sunday, Croatia won their opener against Nigeria with a scoreline of 2-0 with Real Madrid’s midfield maestro Luka Modric scoring a crucial penalty. last_img read more

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On this Day 20 years ago National Team of BiH played with Brazil

first_imgOn this day, the 18th of December 1996, the national football “A” team of BiH played a friendly match against one of the best football teams of the world, the national team of Brazil. For some it represented the beginning of sports life in BiH, after the country emerged from the four years of defensive – liberation war.Brazil won this match with the result 1: 0, but the team of BiH played very well.The match was played in Manaus and it was watched by around 20,000 spectators. Scorer of the only goal of the match was popular Ronaldo, and he scored in the 67th minute.For the selection of Brazil played:Zetti, Cafu, Goncalves, Cruz, Roberto II (Junior II 73,), Conceicao (Ricardinho I 46.), Leandro, Denilson III, Djalminha (Rodrigo II 73.), Giovanni (Oseas 77.), Ronaldinho.For the selection of BiH played:Dedić, Geca, Pintul, Ramčić, Kapetanović, Glavaš (Dadić 78.), Begic (Musić 62.), Beširević, Šabić (Turković 70.), Bolić, Salihamidžić (Osmić 78.).Coach of BH team was Fuad Muzurovic.(Source: nap.ba)last_img read more

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Tamarac Commissioner Criticizes BSO Deputy at Awards Ceremony for Arresting Him Years Ago

first_imgA South Florida commissioner shocked his colleagues and others attending an awards ceremony during Wednesday’s commission meeting.Tamarac Mayor Michelle Gomez and the city’s leadership were handing out Officer of the Month awards and posing for photos with the recognized officers.Afterward, Commissioner Mike Gelin took the microphone from Gomez and asked Broward Sheriff’s Deputy Joshua Gallardo to return to the front of the room.Gelin then criticized Gallardo over what he believed was his false arrest by the officer in 2015, stating, “You probably don’t remember me, but you’re the police officer who falsely arrested me four years ago. You lied on the police report. I believe you’re a rogue police officer. You’re a bad police officer, and you don’t deserve to be here.”Gallardo responded by smiling and walking away.Gomez told reporters afterward, “Completely shocked. This was not something we were expecting. It was supposed to be a wonderful morning. We were giving the awards for the BSO deputies of the month. It was supposed to be a feel-good time.”She took the microphone back from Gelin and expressed support for the officers in attendance and all those who protect our region.According to the website LawEnforcementToday.com, Gallardo took Gelin into custody for resisting arrest without violence in 2014, after Gelin refused to stay away from a scene in which a man had been found beaten.The district attorney chose not to move forward with case, and all of the charges were eventually dropped.“When I shared my video with the state attorney’s office to prove that I did nothing wrong, they declined to file charges against me,” Gelin says. “I had a productive conversation with the Sheriff yesterday and I will try to resolve things and move forward.”Gallardo was being honored at the meeting for his role in the April arrest of a gang member who was wanted for murder in El Salvador and was in the U.S. illegally.last_img read more

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