Update on MPNU Acquisition

Seplat Energy PLC

14 June 2024

 

Seplat Energy Plc ("Seplat Energy" or the "Company")

Update on the Court Action brought by NNPCL in relation to the

acquisition of the shares of Mobil Producing Nigeria Unlimited

Lagos and London, 14 June 2024: Seplat Energy notes the announcement on the 30 May 2024 by the Nigerian National Petroleum Company Limited ("NNPCL") regarding the Settlement Agreement between NNPCL, ExxonMobil Corporation, Delaware and Mobil Producing Nigeria Unlimited ("MPNU") and has since been notified of the termination of the court proceedings brought by NNPCL against MPNU and its affiliates over the proposed divestment of MPNU's shares to Seplat Energy Offshore Limited ("SEOL").

Seplat Energy commends the open cooperation and progress achieved by all stakeholders, and will diligently engage all key stakeholders, including the Government, in progressing towards a swift completion of the acquisition of MPNU.

-  ENDS -

Signed:

Mr. Roger Brown

Chief Executive Officer

Enquiries:

Seplat Energy Plc
Eleanor Adaralegbe,	Chief Financial Officer
Chioma Afe,	Director External Affairs and Social Performance
Edith Onwuchekwa,	Director Legal/Company Secretary
James Thompson,	Head of Investor Relations
FTI Consulting	Ben Brewerton / Chris Laing [phone] [e-mail]

Notes to editors

Seplat Energy PLC (Seplat) is Nigeria's leading indigenous energy company. Listed on the Nigerian Exchange Limited (NGX: SEPLAT) and the Main Market of the London Stock Exchange (LSE: SEPL), we are pursuing a Nigeria-focused growth strategy in oil and gas, as well as developing a Power & New Energy business to lead Nigeria's energy transition.

For further information please refer to the Company website, http://seplatenergy.com/ 

 

END