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

+44 (0) 20 7466 5000

 

Strand Hanson Limited, Nominated Adviser

Ritchie Balmer / James Spinney / Rory Murphy

 

+44 (0) 20 7409 3494

 

 

WH Ireland Limited, Broker

Harry Ansell / Katy Mitchell  

 

+44 (0) 207 220 1666

 

 

Buchanan, Financial PR

Ben Romney / Jon Krinks 

 

+44 (0) 20 7466 5000

 

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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
DISBKCBQKBKDBFD
UK 100