Ruvuma Disposal Update

RNS Number : 6435W

Scirocco Energy PLC

19 August 2022

 

19 August 2022

Scirocco Energy plc

("Scirocco Energy" or "the Company")

Ruvuma Disposal Update

Scirocco Energy (AIM: SCIR), the AIM investing company targeting attractive  assets within the European sustainable energy and circular economy markets, notes that further to its announcement on 1 August 2022, the Company has now received written confirmation from the Tanzania Petroleum Development Corporation ("TPDC") that it is not exercising its statutory right of first refusal with respect to the Company's divestment of its 25% interest in the Ruvuma asset.

The Company maintains an active dialogue with ARA Petroleum Tanzania Limited (APT) on its intention to exercise its pre-emption right and will update the market shortly.

Tom Reynolds, Scirocco's CEO commented:

"We thank TPDC for their constructive engagement throughout the process and we look forward to making further progress towards completing the transaction as discussions with APT continue in a similarly constructive manner. We will provide further updates in due course"

For further information:

Scirocco Energy plc Tom Reynolds, CEO Doug Rycroft, COO	[phone]
Strand Hanson Limited, Nominated Adviser Ritchie Balmer / James Spinney / Rory Murphy	[phone]
WH Ireland Limited, Broker Harry Ansell / Katy Mitchell	[phone]
Buchanan, Financial PR Ben Romney / Jon Krinks	[phone]

Inside Information

The information contained within this announcement is deemed by Scirocco to constitute inside information as stipulated under the Market Abuse Regulation (EU) no. 596/2014 ("MAR"). On the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

 

END

 

 

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