Completion of Ruvuma Farm-Out by Aminex

RNS Number : 0396D

Scirocco Energy PLC

23 October 2020

 

23 October 2020

Scirocco Energy

("Scirocco") 

Completion of Ruvuma Farm-Out by Aminex

Scirocco Energy (AIM: SCIR), the AIM investing Company targeting attractive production and development opportunities within the European energy market, is pleased to note the announcement by Aminex this morning regarding the Completion of the Ruvuma Farm-Out.

Within that announcement it states that APT, as the new operator of the Ruvuma PSA, intends to call an Operating Committee Meeting (OCM) shortly, where it is expected that they will formally present their programme and schedule for the drilling of the Chikumbi-1 well and the 3D seismic acquisition programme.

Commenting on the update, Tom Reynolds, CEO of Scirocco, said

"This is a great milestone for all the parties involved in Ruvuma as it paves the way for the project to move forward.  We welcome APT, as new operator of the Ruvuma PSA, and look forward to hearing their plans at the OCM and working side by side with our partners as we agree next steps.  This update has a direct impact on Scirocco's sales process and we can now engage with interested parties with clarity on the structure of the JV and certainty on the near term momentum for this world class asset."

The information contained within this announcement is considered to be inside information prior to its release, as defined in Article 7 of the Market Abuse Regulation No. 596/2014, and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.

For further information:

Scirocco Energy plc Tom Reynolds, CEO Doug Rycroft, COO	[phone]
Strand Hanson Limited, Nominated Adviser & Broker James Spinney / Ritchie Balmer / Rory Murphy	[phone]
Buchanan, Financial PR Ben Romney / Kelsey Traynor / James Husband	[phone]

 

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