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Attention Savanna Energy Services Shareholders:

Total Energy Services is proposing to take control of Savanna without paying you a premium – just as Savanna is poised for significant value creation.

Our Board of Directors unanimously recommends you REJECT Total’s undervalued, no-premium offer as it does not provide adequate value for your Savanna shares or reflect the future potential of Savanna. Rejecting the Total Offer requires you to TAKE NO ACTION.

Total’s hostile offer does not reflect the interests of Savanna’s shareholders

Savanna has recently completed proactive financing transactions, which solidify the company’s balance sheet, reduce its risk profile, and position the company to participate in a recovery of industry conditions. Total’s offer doesn’t reflect this value.

  • As of December 21, 2016, Total is offering an implied discount of 5%, when over the past five years transactions of this nature have carried a premium of approximately 40% at the time of the offer
  • In previous discussions with Savanna’s management Total said that it was only interested in a “no premium” offer for Savanna
  • Total also said it was not willing to participate in a process by Savanna’s Board to review alternatives
  • Total’s proposed share exchange would give Savanna shareholders only a minority ownership position in the combined company, even though Savanna would contribute the vast majority of the cash flow and assets

Having received strong expressions of interest from third parties, Savanna will explore strategic alternatives with a view to maximizing value for all shareholders.

REJECT Total’s undervalued, no-premium Offer. Rejecting the Total Offer requires you to TAKE NO ACTION.

For more information contact Savanna’s information agent, D.F. King at 1-800-622-1678 or moc.g1488103990nikfd1488103990@seir1488103990iuqni1488103990

 

Shareholder Disclaimer

Savanna Energy Services Corp. ("Savanna" or "the Company") is a public company trading on the Toronto Stock Exchange under the symbol SVY. Savanna's expectations and predictions for the future are discussed in our press releases, presentations, quarterly and annual reports. Such statements, including statements in this document and the documents listed above that relate to matters that are not historical are forward-looking statements within the relevant securities regulations in Canada and elsewhere. Certain forward-looking statements may constitute projections regarding future events or the future financial performance of Savanna Energy Services Corp. When used in this website, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect" and similar expressions, as they relate to Savanna Energy Services Corp., are intended to identify forward-looking statements. Such statements reflect Savanna Energy Services Corp.'s views at the time such statements are made with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause Savanna Energy Services Corp.'s actual results, performance or achievements to vary from those expressed or implied in such forward-looking statements or could affect the extent to which a particular projection is realized.

It is important to take the following factors into consideration when evaluating Savanna Energy Services Corp.

  • The rise and fall in worldwide prices and demand for oil and gas.
  • Changes in the demand for our services, competitors' existence, technological changes and developments in the oilfield services industry.
  • Changes in levels of natural gas and crude oil exploration and development activities.
  • The continuation of operating risks inherent in the oil field services industry.
  • The continuation of regulatory and legislative uncertainties.
  • The change in tax laws.
  • Political instability, war or acts of terrorism in any of the countries in which we do business.
  • General economic conditions.

Savanna's business depends significantly on the level of spending by oil and gas companies for exploration, development and production activities. Sustained increases or decreases in the price of natural gas or oil could materially impact such activities, and thereby materially affect our financial position, results of operations and cash flows.

The above disclaimer outlines the risks and factors which are important to consider.

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